• Journal of the Korean Society of Systems Engineering
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• v.10 no.2
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• pp.59-69
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• 2014

In the bidding stage of turn-key based plant construction contracts, owners provide design and performance basis for contractors instead of giving design drawing. To win the bid for a plant construction, the contractors should be obliged to satisfy and ensure owners'requirements such as design and performance basis in a plant construction project, In other words, owners imposes technical risk of the design to the contractors by specifying responsibility for the analysis and verification of the plant construction. Thus, it is very important that contracters make accurate and realistic basic design plan in a short period of time. To deal with such a situation, we propose a systems engineering approach for the analysis and management of the technical risk. Specifically, we first: 1) Analyzes technical risk related with the plant design information for the bidders, followed by 2) Developing stakeholder requirements for the basic engineering design, and 3) System requirements for dealing with technical risk. Also, in this paper, we proposed converting method from MOE(Measure of Effectiveness) to MOP(Measure of Performance) in the risk analysis. To show the effectiveness of the proposed method, we carried out a case study.

• 시스템엔지니어링워크숍
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• s.4
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• pp.123-134
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• 2004

This paper deals with the feasibility analysis and alternatives for infrared detector development. The purpose of this paper analyze development requirement and feasibility study in both technology and cost. We get raw input data for system engineering process from development and technical expert, and then analyze cost and technology for development feasibility, and alternative study. Infrared Detector is core component of Thermal Imaging System and developed by ADD from 2006 to 2008 year. Technical level is analyzed by TRL(Technical Readiness Level) and AOA(Analysis of Alternative) is done by development and production cost estimate. We use SEER-H tool for cost estimate, that is parametric cost estimate tool based on Knowledge Base. Also this paper presents risk analysis for project management because it is necessary to risk driver management during the infrared detector development. The result of IR Detector feasibility and alternative study will be used in technical and cost analysis. This study can help those who are related to the cost analysis and development feasibility of other weapons

• Proceedings of the Korean Geotechical Society Conference
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• 2006.10a
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• pp.509-514
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• 2006

Considering the risk management, there are many examples and various studies for the corporation risk. However, I have never seen the project risk management that applied a construction site for practical approach. Therefore, I have developed a chart (I-Chart) for the project risk management, and also built a model (I-Chart scenario analysis) that I could use. I applied this model to container yard reclaimed land in harbor construction with approaching of geotechnical engineering.

• Journal of the Korea Institute of Military Science and Technology
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• v.20 no.6
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• pp.835-843
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• 2017

The Technology Readiness Assessment(TRA) has the advantage of identifying immature technologies in promoting weapon system research and development project. However, a more diverse set of information is required for the determination of phase shift and technical risk management for weapons system R&D projects. In this paper, we investigate the various indexes the various indexes proposed to overcome the limitations of the Technology Readiness Level(TRL) and analyze the possibility of applying to the actual weapons system R&D projects. Based on the analysis, it was possible to provide additional information that could not be presented in TRA using technical risk indexes other than TRL, confirming that it could be used for technical risk management for weapons system R&D projects.

• Structural Monitoring and Maintenance
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• v.5 no.3
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• pp.363-377
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• 2018

The proper functioning of critical points on transport infrastructure is decisive for the entire network. Tunnels and bridges certainly belong to the critical points of the surface transport network, both road and rail. Risk management should be a holistic and dynamic process throughout the entire life cycle. However, the level of risk is usually determined only during the design stage mainly due to the fact that it is a time-consuming and costly process. This paper presents a simplified quantitative risk analysis method that can be used any time during the decades of a tunnel's lifetime and can estimate the changing risks on a continuous basis and thus uncover hidden safety threats. The presented method is a decision support system for tunnel managers designed to preserve or even increase tunnel safety. The CAPITA method is a deterministic scenario-oriented risk analysis approach for assessment of mortality risks in road tunnels in case of the most dangerous situation - a fire. It is implemented through an advanced risk analysis CAPITA SW. Both, the method as well as the resulting software were developed by the authors' team. Unlike existing analyzes requiring specialized microsimulation tools for traffic flow, smoke propagation and evacuation modeling, the CAPITA contains comprehensive database with the results of thousands of simulations performed in advance for various combinations of variables. This approach significantly simplifies the overall complexity and thus enhances the usability of the resulting risk analysis. Additionally, it provides the decision makers with holistic view by providing not only on the expected risk but also on the risk's sensitivity to different variables. This allows the tunnel manager or another decision maker to estimate the primary change of risk whenever traffic conditions in the tunnel change and to see the dependencies to particular input variables.

• The Journal of Asian Finance, Economics and Business
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• v.8 no.5
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• pp.839-850
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• 2021

Risk-adjusted return is believed to be one of the optimal parameters to determine an optimum portfolio. A risk-adjusted return is a calculation of the profit or potential profit from an investment that takes into account the degree of risk that must be accepted to achieve it. This paper presents a new procedure in portfolio selection and utilizes these results to optimize the risk level of risk-adjusted Islamic stock portfolios. It deals with the weekly close price of active issuers listed on Jakarta Islamic Index Indonesia for a certain time interval. Overall, this paper highlights portfolio selection, which includes determining the number of stocks, grouping the issuers via technical analysis, and selecting the best risk-adjusted return of portfolios. The nominated portfolio is modeled using Quadratic Programming (QP). The result of this study shows that the portfolio built using the lowest Value at Risk (VaR) outperforms the market proxy on a risk-adjusted basis of M-squared and was chosen as the best portfolio that can be optimized using QP with a minimum risk of 2.86%. The portfolio with the lowest beta, on the other hand, will produce a minimum risk that is nearly 60% lower than the optimal risk-adjusted return portfolio. The results of QP are well verified by a heuristic optimizer of fmincon.

• Nuclear Engineering and Technology
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• v.40 no.5
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• pp.349-364
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• 2008

Over the years, probabilistic risk assessment (PRA) research activities conducted at the U.S. Nuclear Regulatory Commission (NRC) have played an essential role in support of the agency's move towards risk-informed regulation. These research activities have provided the technical basis for NRC's regulatory activities in key areas; provided PRA methods, tools, and data enabling the agency to meet future challenges; supported the implementation of NRC's 1995 PRA Policy Statement by assessing key sources of risk; and supported the development of necessary technical and human resources supporting NRC's risk-informed activities. PRA research aimed at improving the NRC's understanding of risk can positively affect the agency's regulatory activities, as evidenced by three case studies involving research on fire PRA, human reliability analysis (HRA), and pressurized thermal shock (PTS) PRA. These case studies also show that such research can take a considerable amount of time, and that the incorporation of research results into regulatory practice can take even longer. The need for sustained effort and appropriate lead time is an important consideration in the development of a PRA research program aimed at helping the agency address key sources of risk for current and potential future facilities.

• Journal of Information Processing Systems
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• v.2 no.2
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• pp.95-100
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• 2006

While conventional business administration-based information technology management methods are applied to the risk analysis of information systems, no security risk analysis techniques have been used in relation to information protection. In particular, given the rapid diffusion of information systems and the demand for information protection, it is vital to develop security risk analysis techniques. Therefore, this paper will suggest an ideal risk analysis process for information systems. To prove the usefulness of this security risk analysis process, this paper will show the results of managed, physical and technical security risk analysis that are derived from investigating and analyzing the conventional information protection items of an information system.

• Proceedings of the Korea Technical Association of the Pulp and Paper Industry Conference
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• 2008.05a
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• pp.157-168
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• 2008

• Nuclear Engineering and Technology
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• v.49 no.2
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• pp.306-312
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• 2017

The purpose of this research is to introduce the technical standard of accident sequence precursor (ASP) analysis, and to propose a case study using the dynamic-probabilistic safety assessment (D-PSA) approach. The D-PSA approach can aid in the determination of high-risk/low-frequency accident scenarios from all potential scenarios. It can also be used to investigate the dynamic interaction between the physical state and the actions of the operator in an accident situation for risk quantification. This approach lends significant potential for safety analysis. Furthermore, the D-PSA approach provides a more realistic risk assessment by minimizing assumptions used in the conventional PSA model so-called the static-PSA model, which are relatively static in comparison. We performed risk quantification of a steam generator tube rupture (SGTR) accident using the dynamic event tree (DET) methodology, which is the most widely used methodology in D-PSA. The risk quantification results of D-PSA and S-PSA are compared and evaluated. Suggestions and recommendations for using D-PSA are described in order to provide a technical perspective.