• Title/Summary/Keyword: Risk cost

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Professional Security Management and Investigation for the New Competitive Advantage

  • Button, Mark;Lee, Ju-Lak;Kim, Hak-Kyong
    • International Journal of Contents
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    • v.7 no.3
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    • pp.71-81
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    • 2011
  • This paper is mainly associated with setting out an agenda for the transformation of security by creating a new framework for a security system, which can maximise its effectiveness. Noticeably, this research shows empirically that crimes are getting a major cost to organisations, which if reduced by security and investigations could reap substantial rewards to the finances of an organisation. However, the problem is that the delivery of security is frequently delegated to personnel (e.g. security guards) with limited training, inadequate education, and no real commitment to professionalism - 'sub-prime' security, finally causing security failures. Therefore, if security can be enhanced to reduce the crime cost, this will produce financial benefits to business, and consequently could produce a competitive advantage. For this, the paper basically draws upon Luke's theoretical framework for deconstructing 'power' into three dimensions. Using this three-dimensional approach, the paper further sets out a model of how security can be enhanced, utilising a new Security Risk Management (SRM) model, and how can this SRM model create competitive advantage in business. Finally, this paper ends with the six strategies needed to enhance the quality of security: refiguring as SRM, Professional Staff, Accurate Measurement, Prevention, Cultural Change, and Metrics.

Development of Mobile Art Therapy Contents

  • Kim, Hye-Suk;Cho, Young-Ju
    • Journal of the Korea Society of Computer and Information
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    • v.21 no.7
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    • pp.23-30
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    • 2016
  • In this paper, we propose a portable art therapy content. The proposed content makes counseling clients get a psychical cure at least cost regardless of time and place Counseling clients express their psychological state as pictures through the proposed content. And Counselors analyze and interpret the figures based on the database which is built into the server system. Due to the development of advanced technologies, various adjustment disorders and addictions have increased in the rapidly changing modern society. This causes the increase of counseling clients who want a psychical cure. And also counseling time, counseling place and counseling cost are emerging as a social issues. Psychotherapy specialists use the proposed content at the stage of the psychoanalysis which needs a lot of time and effort. The proposed content exploits the sever system to make the right decisions quickly and accurately. Counseling clients who are the medical underprivileged get visit consultation and online consultation can detect a psychological high-risk in an early stage and prevent this psychological high-risk. Preventive treatment service using the proposed content will make the social and medical cost savings.

Probabilistic GMP Calculation Method based on BIM (BIM기반 확률론적 GMP 산정방안에 관한 연구)

  • Go, Gun-Ho;Jin, Zheng-Xun;Kim, Hyun-Joo;Hyun, Chang-Taek
    • Proceedings of the Korean Institute of Building Construction Conference
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    • 2018.05a
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    • pp.122-123
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    • 2018
  • Recently, CM at Risk delivery system(CM@R) that could solve the problems of Design Bid Build delivery(DBB) system has been emerging. In the CM@R delivery system, the contractor negotiates for a maximum guaranteed price(GMP) with the client at the design stage, and the contractor carries out the construction within the GMP. In CM @ R, the construction company with expertise in construction participates from the design stage to reflects the construction know-how in the design. On the other hand, the modification design frequently occurs due to the change of the construction cost when negotiating the GMP. In addition, uncertainties are inherent in the GMP calculation because the calculation is based on unfinished drawings and documents. This study proposes a probabilistic GMP estimation method applying MCS to the BIM - based cost prediction model, in order to extract the accurate quantity information when estimating the GMP and to cope with the change of the construction cost inherent in uncertainty.

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Time-Dependent Degradation Model and Maintenance Cost of Rail line PC Beam Bridge in Project Level (Project level에서의 철도 PC Beam교량의 경년열화모델구성 및 유지관리비용 추정)

  • Kwon, Se-Gon;Park, Mi-Yun;Do, Jeong-Yun;Kim, Do-Kie
    • Proceedings of the KSR Conference
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    • 2008.11b
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    • pp.17-22
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    • 2008
  • Construction project have extremely high risk in the process of construction owing to unexpected event, like as design amendment. As a result, owner have to endure enormous extra-cost to control the risk and continue to the project having more higher uncertainty. Also, if the structure is completed, it is needed that the structure is protected and maintained continuously during life cycle time to satisfying original aim of structure itself. LCC analysis to calculate cost of structure alternatives divides into two stage, one is design_LCC and the other is maintenace_LCC. But two stages all is needed in the transition deterioration model to calculate more reasonable LCC analysis. This paper developed the model using analysis of FMS contents and survey from professional about Prestressed concrete beam girder bridge(PC Beam bridge)in railway. The model is focused in project level of PC beam because any condition state information for element level analysis can not get up. This paper is intended to use the developed model in LCC analysis of PC Beam bridge in railway and constitute the foundation to perform more deep study in the near future.

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Ergonomic and performance analysis of rail-type boom sprayer for agro-photovoltaic power system

  • Rack-Woo Kim;Jae-Woong Han;Woong Kim
    • Korean Journal of Agricultural Science
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    • v.49 no.1
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    • pp.151-162
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    • 2022
  • This study was conducted to develop a rail-type boom sprayer, performing safe spraying with improved ergonomic postures during pesticide spraying of agro-photovoltaic power system. The sprayer was designed to reduce labor cost and to be safe from pesticide exposure, and was analyzed through a comparison with a conventional spray method. The rail-type boom sprayer, consisted of a self-propelled spray and hose winder, hose, and boom sprayer parts, was designed to automatically pull and spray in the vertical and horizontal directions. The performance of the sprayer for an agro-photovoltaic power system was appropriate. From the analysis of postures with the Ovako Working posture Analysis System (OWAS), Rapid Entire Body Assessment (REBA), and Rapid Upper Limb Assessment (RULA) methods, the musculoskeletal risk factors to the body using the rail-type boom sprayer were less than those with the conventional power sprayer. In addition, the possibility of pesticide poisoning was reduced compared to the conventional power sprayer. The working capacity with the rail-type boom sprayer was more than five times greater, compared with the conventional power sprayer. After performing pesticide spraying with the rail-type boom sprayer, the labor cost was reduced to 42,750 won·yr-1, which was 90% (402,750 won·yr-1) less than the cost with the use of a conventional power sprayer (445,500 won·yr-1).

IMPACT OF CONSTRUCTION MATERIAL COST VARIATION ON THE ON THE FEASIBILITY OF BUILDING PROJECTS IN DEVELOPING COUNTRIES: A CASE STUDY IN VIETNAM RISK

  • Soo-Yong Kim;Luu Truong Van;Byeong-Gi Yoo;Luong Thanh Dung
    • International conference on construction engineering and project management
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    • 2007.03a
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    • pp.96-105
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    • 2007
  • This paper presents a study on the impact of variation of construction material prices on the feasibility of building projects in Vietnam. The paper makes use of Monte-Carlo simulation for financial risk analysis of net present Value (NPV) and internal rate of return (IRR). To well illustrate the influencing, a case study is presented. The research results show that there is a strong correlation between steel prices, gold prices, and $US exchange rate. Outputs of statistics also reveal that the concurrent variation of prices of cement, steel, sand, brick, formwork and stone has strongly negative impact on NPV and IRR of building projects. The results also indicate that the proportion of steel cost to total construction cost is 17.95% which is the cause of risks for the feasibility of building project in Vietnam. The paper stresses that feasibility study of building project must integrate the impact of construction materials prices in order to mitigate risks in developing countries as Vietnam.

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An Integrated Framework for Modeling the Influential Factors Affecting the Use of Voice-Enabled IoT Devices: A Case Study of Amazon Echo

  • Temidayo Oluwapelumi Shofolahan;Juyoung Kang
    • Asia pacific journal of information systems
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    • v.28 no.4
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    • pp.320-349
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    • 2018
  • Purpose: The application of IoT is finding continuous acceptance in our daily lives, particularly, smart speakers are making life easier and convenient for consumers. This research aims to develop and test an integrated model of factors influencing consumer's adoption of voice-enabled IoT devices. Design/methodology/approach: Based on the VAM, an integrated voice-enabled IoT device adoption model is proposed. Gender differences on five constructs relating with perceived value (perceived usefulness, perceived enjoyment, perceived security risk, perceived technicality and perceived cost) was also examined through PLS-MGA technique. The usage experience of consumers was also controlled in the integrated VAM. Findings: Result shows that Perceived-Usefulness, Perceived-Enjoyment and Perceived-Cost have a strong effect on Perceived-Value. However, Perceived-Technicality and Perceived-Security-Risk are non-influential and have no significant effect on PV. Additionally, Perceived-Value and Social-Influence plays a significant role in predicting adoption intention. Gender differences also exist in consumers perception of usefulness, enjoyment and cost. In comparison to the basic value-based adoption model, the integrated model provides more insight on consumers adoption of voice-enabled IoT devices. Originality/value: Using an integrated model, this study is one of the first scholarly attempt at modelling the influential factors for adopting smart speakers i.e., voice-enabled IoT devices, with implications for improved adoption.

CM at Risk Case Study on Guaranteed Maximum Price Contract - Focused on Cases for USA - (책임형 CM 발주방식의 최대공사비보증계약 사례연구 - 미국 공공발주 프로젝트 사례 중심 -)

  • Jeong, Jinhak;Han, Jonghoon;Lee, Joosung;Ahn, Yonghan
    • Korean Journal of Construction Engineering and Management
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    • v.20 no.3
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    • pp.22-30
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    • 2019
  • The purpose of this study is to derive basic data of the Guaranteed Maximum Price(GMP) process and to present specimens that can be used at the time of execution of CM at Risk project in South Korea. CM at Risk project is issued in South Korea, but the actual data is lack. On the other hand, CM at Risk project is universalized and the market of the CM at Risk is steadily growing. Because of that, in this study, The United States cases was selected as a sample. GMP consists of CM's fee, CM contingency, project direct cost, project indirect cost, allowance. GMP negotiations are performed before the end of design completion, and after 3 rounds of estimation comparison, preliminary GMP is confirmed. GMP can be multiple contract and it is useful for Procurement of long lead materials and early construction. If the actual cost is lower than expected GMP, sharing of the saving is an option since the conflict of interests between the client and the contractor can occur.

Development of an Enhanced Risk Management System for Construction Defect Control in Industrial Plants

  • Kihun Song
    • International conference on construction engineering and project management
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    • 2024.07a
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    • pp.1313-1313
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    • 2024
  • This paper proposes the development of an advanced Risk Management System (RMS) using Risk-Based Methodologies (RBM) specifically tailored for addressing construction defects in industrial plants. Urbanization and industrialization demand robust frameworks to handle the complexities and safety concerns in construction projects. Traditional risk management often overlooks critical aspects such as persistent construction defects. This paper discusses the development of an innovative Risk Management System (RMS) that integrates Risk-Based Methodologies (RBM) specifically for construction defect mitigation in industrial settings. The study centers around the implementation of Risk-Based Inspection (RBI) techniques, tailored to enhance traditional risk management systems. This includes developing a specialized risk assessment tool alongside an online management platform, designed to provide continuous monitoring and comprehensive management of construction risks. The proposed system-RBE-i (Risk-Based Execution for Installation)-focuses on identifying, evaluating, and mitigating risks effectively, utilizing a systematic approach that integrates seamlessly into existing construction workflows. The RBE-i system's core lies in its ability to conduct thorough risk analyses and real-time data provision. It uses digital technologies to improve communication, operational efficiency, and decision-making processes across construction projects. By applying these methodologies, the system enhances safety and ensures more efficient project execution by preemptively identifying potential risks and addressing them promptly. Field applications of RBE-i have demonstrated its effectiveness in significantly reducing construction defects, thus validating its potential as a transformative tool in construction risk management. The system sets new industry standards by shifting from reactive to proactive risk management practices, ultimately leading to safer, more reliable, and cost-effective construction operations. In conclusion, the RMS developed through this study not only addresses the pressing needs of construction risk management but also proposes a paradigm shift towards more proactive, structured, and technology-driven practices. The successful integration of the RBE-i system across various pilot projects illustrates its significant potential to improve overall project outcomes, making it an invaluable addition to the field of construction management.