• International conference on construction engineering and project management
• /
• 2022.06a
• /
• pp.245-252
• /
• 2022

Risk identification for bridge projects is a knowledge-based and labor-intensive task involving several procedures and stakeholders. Presently, risk information of bridge projects is unstructured and stored in different sources and formats, hindering knowledge sharing, reuse, and automation of the risk identification process. Consequently, there is a need to develop structured and formalized risk information for bridge projects to aid effective risk identification and automation of the risk management processes to ensure project success. This study proposes a semantic risk breakdown structure (SRBS) to support risk identification for bridge projects. SRBS is a searchable hierarchical risk breakdown structure (RBS) developed with python programming language based on a semantic modeling approach. The proposed SRBS for risk identification of bridge projects consists of a 4-level tree structure with 11 categories of risks and 116 potential risks associated with bridge projects. The contributions of this paper are threefold. Firstly, this study fills the gap in knowledge by presenting a formalized risk breakdown structure that could enhance the risk identification of bridge projects. Secondly, the proposed SRBS can assist in the creation of a risk database to support the automation of the risk identification process for bridge projects to reduce manual efforts. Lastly, the proposed SRBS can be used as a risk ontology that could aid the development of an artificial intelligence-based integrated risk management system for construction projects.

• Journal of Korea Trade
• /
• v.23 no.5
• /
• pp.45-65
• /
• 2019

Purpose - As the well-known Structure-Conduct-Performance paradigm implies, risk structure of a corporation may affect its risk management activity and the activity may in turn determine its performance. Depending on its goal, Foreign Direct Investment (FDI) can shape its risk structure, risk management and its performance. Under this assumption, we investigate the relationship between the goals of FDI and risk management for the first time in academics. Design/methodology - This empirical research uses a survey of 279 current Korean enterprises' FDIs in China with the recently developed business risk quadrant model. Companies are classified into either a market- or an efficiency-seeking group, to identify how each group perceives and manages risks, and values the performance of risk management. Also, we apply integrated risk management method that multinational corporations have introduced in China, then verify the mediating effect between risk factors and performance. Findings - Our research shows the FDIs can expose themselves to differing risk structure although risk management activities simply represent the level of empowerment given to local management by headquarter due to limit of sample size despite diversity of risk and risk management tools. To sum, market seekers are found to have more strategic risk (revenue related risk) than efficiency seekers with financial risk (cost related risk). The market seekers can manage their risk by empowering their local organisation while the efficiency does the opposite ways. The risk management appears to be successful in general. Originality/value - Previous studies on small and medium enterprises' FDIs to China have concentrated on the analysis of entry determinants, withdrawal factors and individual risk management. Meanwhile, this research establishes enterprise-wide risk factors faced by the companies that advance into China, according to the method of the classification by ERM and verifies if they could synthetically improve performance through risk corresponding measures.

• Journal of the Korea Safety Management & Science
• /
• v.14 no.4
• /
• pp.71-77
• /
• 2012

It is very important the collaboration and risk management of supply chain between the parent company and its partners in the supply chain risk management(SCRM). It was known that the SCRM approach is very different between a large enterprise and a small and medium-sized enterprise. This paper deals with the suggestion about SCRM structure for a small and medium-sized enterprise. This SCRM structure consist of risk identification, risk assessment, and risk mitigation. We expect that this SCRM structure promote the collaboration between a parent company and its partners to alleviate the supply chain risk.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2006.11a
• /
• pp.571-573
• /
• 2006

This study suggests a reasonable method for visualizing risk management level by risk weight linked with 4D model. This study defines risk management procedures as preparation, identification, analysis, response and management to manage potential risks in the construction project. The modules for computerizing in this system consist of planning, construction, application of WBS (Work Breakdown Structure) and RBS (Risk Breakdown Structure), and risk analysis. The final results include a method for visualizing risk level by each element of the project by using 4D simulation technique. It can be used as a visualized risk management tool instead of current system using numerical data.

• Journal of Digital Convergence
• /
• v.8 no.2
• /
• pp.189-202
• /
• 2010

Although e-Finance has become more and more prevalent in everyday life, with the development of information technology, further development of e-Finance and commercial transactions has been limited. Therefore it is important for financial institutions to be aware of the significance of e-Finance risk and take appropriate actions. And an effective risk management function relies on a well-defined organization structure to eliminate gaps and minimize overlaps in risk management duties, responsibilities, and authorities. It defines and assigns risk management responsibilities, authorities, and accountabilities to appropriate personnel. The adequate organization of the risk management function is very important in the success of risk management.

• Journal of Information Technology Applications and Management
• /
• v.21 no.4
• /
• pp.173-186
• /
• 2014

This study outlines possible risk factors in the SCM of a company and correlates risk assessment, the strategy of risk management, and the supply chain performance. The data is surveyed from an international Korean company and is analyzed by the structure equation model of actual proof. The research model verifies the correlation between the risk assessment, the strategy of risk management, and the supply chain performance as dependent variables after the risk factors of the SCM are defined as independent variables. The research shows that there are consecutive links among the risk factors of the SCM, the risk assessment, and the strategy of risk management. The strategy of risk management was conclusively determined to have an effect on supply chain performance. Therefore, improving the supply chain performance of a company requires the constructive process for risk management based on a correlation between risk assessment and the strategy of risk management.

• Journal of Information Technology Services
• /
• v.14 no.3
• /
• pp.117-129
• /
• 2015

For the continuous growth of firms, the contributions of effective risk management system are required. This research analyzes the impact on the firm's performance related to risk management structure which includes the risk management system, risk management activity and risk management competency. In this research, the structural equation model considering the variable which contains enterprise risk management system, risk management activity and risk management competency was suggested. Also risk management organization and management procedures are identified as in enterprise risk management system. The implementation activity and control activity were the factors related in risk management activity. And risk management competency can be described as the response level of managing risk in outside and inside the firms' environment. Finally this model was analysed empirically for 112 firms in Korea using SPSS 18.0 and Amos 16.0. As the results, the suggested hypothesis were adopted. So as to manage risk performance for their firms, the development of systematic Risk Management Framework is important for their risk management activity and risk management competency. Ultimately, we can conclude that the focusing to the systematic risk management approach could be effective on the firm's risk management performance.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2004.11a
• /
• pp.384-387
• /
• 2004

It is very important to manage the risk in building construction because construction process has too many internal risk compared with others. So construction managers need more developed risk management system than the Present. While the study for the solution and management of generated risk is comparatively enough, the effort to confirm the risk of construction phase on pre-construction phase haying an major effect on total duration, is insufficient. For supporting the schedule risk management of pre-construction, this study suggests the reclassified risk breakdown structure and the investigation form for advance preparations on pre-construction Phase, which help the Poorly experienced construction manager to make more correct decisions and efficiently to execute risk management.

• Proceedings of the Korean Institute Of Construction Engineering and Management
• /
• 2004.11a
• /
• pp.101-108
• /
• 2004

The results of the study include a computerized system and a systematic Process model for risk management and analysis. This study analyzes the present status of risk management in the construction industry, and then suggests reasonable methods for improved risk management plans. This study defines risk management procedures as preparation, identification, analysis, response and management to manage potential risks In the construction project. The modules for computerizing this system consist of planning, construction, application of WBS (Work Breakdown Structure) and RBS (Risk Breakdown Structure), and risk analysis. The method logy for analyzing construction risk uses fuzzy theory, and the scope of developed system is focused to the contractors. The risk management system suggested in this study operates on the Internet, for providing contractors with a useful risk management tool by online system, with web-based menus that is helpful for practical application.

• The Journal of Asian Finance, Economics and Business
• /
• v.6 no.3
• /
• pp.27-40
• /
• 2019

The study examines the effects of growth opportunities, debt maturity and liquidity risk on leverage, making use of a large panel of Chinese listed firms. Research on capital structure has broadened its scope from a single capital structure decision (the debt/equity choice) to various attributes of the debt in firms' capital structure. We use the system Generalized Method of Moments estimator to control for unobserved heterogeneity and the potential endogeneity of regressors. We find a negative relationship between growth opportunities and leverage. Further, we find that while the proportion of short-term debt attenuates the negative effect of growth opportunities on leverage, it negatively affects leverage as predicted by the liquidity risk hypothesis. When we distinguish between state owned firms and private controlled firms, we find evidence that these effects are only relevant to private controlled firms. However, our analysis indicates that the economic implication of liquidity risk effect is much lower for Chinese firms than that observed in the literature for US firms. Our study suggests that these differences can be explained by differences in the institutional environment in which firms operate. This finding related to Diamond's (1991) liquidity risk hypothesis extends our understanding of the relationship between liquidity risk and the debt maturity choice.