• International conference on construction engineering and project management
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• 2013.01a
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• pp.338-343
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• 2013

Integrated Project Delivery (IPD) as a delivery method fully capitalizes on an integrated project team that takes advantage of the knowledge of all team members to maximize project outcomes. IPD is currently the highest form of collaboration available because all three core project stakeholders, owner, designer and contractor, are aligned to the same purpose. Compared with traditional project delivery approaches such as Design-Bid-Build (DBB), Design-Build (DB), and CM at-Risk, IPD is distinguished in that it eliminates the adversarial nature of the business by encouraging transparency, open communication, honesty and collaboration among all project stakeholders. The team appropriately shares the project risk and reward. Sharing reward is easy, while it is hard to fairly share a failure. So the compensation structure and the contingency in IPD are very different from those in traditional delivery methods and they are expected to encourage motivation, inspiration and creativity of all project stakeholders to achieve project success. This paper investigates the compensation structure in IPD and provides a method to determine the proper level of contingency allocation to reduce the risk of cost overrun. It also proposes a method in which contingency could be used as a functional monetary incentive when established to produce the desired level of collaboration in IPD. Based on the compensation structure scenario discovered, a probabilistic contingency calculation model was created by evaluating the random nature of changes and various risk drivers. The model can be used by the IPD team to forecast the probability of the cost overrun and equip the IPD team with confidence to really enjoy the benefits of collaborative team work.

• Korean Journal of Construction Engineering and Management
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• v.5 no.2 s.18
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• pp.115-122
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• 2004

This study identifies various risk factors associated with activities of early construction stage, then establishes the Risk Breakdown Structure(RBS) by classifying the risks into the three groups; Common risks, risks for Earth works, and risks for Foundation works. The Common risks are identified and classified by considering various aspects of the early construction stage such as financial, political, constructional aspects, etc. The risks for Earth works and Foundation works are identified in detail by surveying technical specifications, relevant claim cases and interviewing with experts. These risks are classified based on the Wok Breakdown Structure(WBS) of the early construction stage. The WBS presented in this study classifies the works of early construction stage into four categories; excavation, sheeting works, foundation works, footing works. This study suggests a risk analysis method using fuzzy theory for construction projects. Construction risks are generally evaluated as vague linguistic value by subjective decision making. Fuzzy theory is a proper method to quantify vague conditions of construction activities. Therefore, this study utilizes fuzzy theory to analyse construction risks. The weight of risks is estimated by reflecting the interrelationship among risk factors from absolute weights obtained by fuzzy measure into the relative weights by Analytical Hierarchy Process(AHP). The interrelationship is estimated by Sugeno-fuzzy measure.

• Journal of the Korea Safety Management & Science
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• v.21 no.4
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• pp.31-37
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• 2019

When the foundation work of the underground part of the building structure or the excavation work of the civil engineering structure is carried out, there is the earthwork work by the inevitable process. As the economic situation continues to develop, construction in urban areas is becoming bigger and higher in scale due to the expansion of infrastructure and the rescue of urban dwellings in urban areas, and excavation of underground roads is inevitable. Excavation of the underground part may cause problems in the process difficulty and safety of the earthworks due to the complexity and various characteristics of the ground selected without consideration of the ground characteristics and site conditions. In order to complete the required facilities, it is necessary to secure the design and construction of the retaining walls. In order to complete the required construction, It is an important factor satisfying construction period and economical efficiency.

• Proceedings of the Korea Society of Information Technology Applications Conference
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• 2007.11a
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• pp.137-137
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• 2007

• Journal of the Korean Society of Surveying, Geodesy, Photogrammetry and Cartography
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• v.39 no.5
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• pp.329-341
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• 2021

This study derives the risk-Influence factors for subway structures, the basis for the transition from the current subway disaster recovery-oriented maintenance system to a preemptive disaster management system, to reduce risk factors for existing subway structures. To apply reasonable risk assessment techniques, risk influence factors for subway underground structures using statistical information(spatial information) and risk influence factors according to frequency of accidents were selected to derive the risk factors. The significant risk factors were verified through ground subsidence (SI: Subsidence Impact)-based correlation analysis. This process confirmed that the subsidence of the ground was a risk influence factor for the subway structure. The main result of this study is that derive the risk factors to improve the risk factors of subway structures due to the rapid increase in disaster risk factors. The derived risk factors that were expected to affect the depression around subway stations and track structures did not show a noticeable correlation, but the cause of this may be that there is no physical connection between them, but on the other hand, the accumulated data may not accurately record the surrounding depression. Accordingly, in order to evaluate the risk of depression around the station and track, more intensive observation and data accumulation around the structure are required.

• Proceedings of the KSR Conference
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• 2011.10a
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• pp.2473-2478
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• 2011

The asset management of railway facilities is a total framework for finally supporting a safe and comfortable train service, which includes functions of supporting evaluation of condition and performance of infrastructures, making the decision method of repair or rehabilitation of deteriorated facilities, and lengthening the life cycle of structure through the decision of adequate cost and time of repair or reinforcement. In the range of the asset management, organization, human, the target, and information & data of company are included. Therefore, in this paper, appling the method of asset management analysis to the railway structures, the process of the risk assesment using BRE(Business Risk Exposure) and the basis of consisting optimized renewal decision-making are expressed.

• Proceedings of the KSR Conference
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• 2003.10b
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• pp.241-246
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• 2003

In this paper, necessity and application scope of the risk-analysis D/B which assesses the railway safety condition has been introduced. In addition, normalization of analysis work, which is one of the DB development procedures has been conducted. And the structure of accident data management has been introduced through the analysis on the classification scheme used in Korea. Also the improvement of railway accident classification and management scheme which is necessary to accident risk assesment has been presented by these procedures.

• Korean Journal of Construction Engineering and Management
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• v.17 no.1
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• pp.48-55
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• 2016

Risk management is an important element for successful management of overseas construction projects. This study reports a case study in which we proposed a risk management planning and procedure for plant construction which can be applied throughout the project life cycle. We analyzed the risk management practices of Korean construction companies by applying the concept of the PRINCE2 method developed in the UK, and proposed a risk management planning and procedure with organizational structure and working process. The suggested risk management planning and procedure was applied to an overseas plant construction project, and produced good results. It is believed that the procedure suggested here can also be aplied to other companies to enhance the competency in the global construction market.

• The Journal of Asian Finance, Economics and Business
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• v.7 no.9
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• pp.11-18
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• 2020

This paper analyzes factors affecting enterprise's financial risk listed on the Vietnam stock market. The panel data of research sample includes 524 non-financial listed enterprises on the Vietnam stock market for a period of eleven years, from 2009 to 2019. The Generalized Least Square (GLS) is employed to address econometric issues and to improve the accuracy of the regression coefficients. In this research, financial risk is measured by the Alexander Bathory model. Debt structure, Solvency, Profitability, Operational ability, Capital structure are independent variables in the study. Firm Size, firm age, growth rate are control variables. The model results show that in order to prevent and limit financial risk for enterprises listed on the Vietnam Stock Market, attention should be paid to variables reflecting Liability structure ratio, Quick Ratio, Return on Assets, Total asset turnover, Accounts receivable turnover, Net assets ratio and Fixed assets ratio. The empirical results show that there are differences in the impact of these factors on the financial risk in state-owned enterprises and non-state enterprises listed on the Vietnam stock market. The findings of this article are useful for business administrators, helping business managers make the right financial decisions to improve the efficiency of financial risk management in enterprises.

• Journal of Korean Society of Disaster and Security
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• v.5 no.1
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• pp.43-47
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• 2012

The asset management of infra facilities is a total framework for finally supporting a safe and comfortable service, which includes functions of supporting evaluation of condition and performance of infrastructures, making the decision method of repair or rehabilitation of deteriorated facilities, and lengthening the life cycle of structure through the decision of adequate cost and time of repair or reinforcement. In the range of the asset management, organization, human, the target, and information & data of company are included. Therefore, in this paper, appling the method of asset management analysis to the infra structures, the process of the risk assesment using BRE (Business Risk Exposure) and the basis of consisting ORDM (Optimized Renewal Decision-Making) are expressed.