• Title/Summary/Keyword: cost risk management

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Risk analysis using PCD result and cost driver of COCOMOII (COCOMOII의 cost driver를 이용한 PCD결과의 위험분석)

  • 박지협;이은서;장윤정;이경환
    • Proceedings of the Korean Information Science Society Conference
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    • 2002.10d
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    • pp.10-12
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    • 2002
  • 본 논문에서는 신뢰성 있는 소프트웨어 개발을 위한 위험분석 방법을 모색한다. 기존의 프로세스 능력 결정(PCD: Process Capability Determination)결과의 차이를 이용한 전체 위험결정 방법의 취약점을 보안하기 위해 MBASE(COCOMOII)I에서 제시하는 위험분석 방법을 이용한다. 이 과정에서 필수적으로 수행되어야 할 과제는 레벨의 MP(Management Practice)단위 속성과 cost driver를 매핑함으로써 개별 위험항목(risk item)을 얻는 것이다. SPICE 레벨4 단계를 예로 cost driver를 추출하고 rating 결과를 입력하여 위험요소의 우선순위를 결정하며, 결정된 위험 우선순위에 따라 위험을 제거할 경우 전체 위험이 급격히 감소되어 RE(Risk Exposure) 그래프의 하강 곡선을 따름을 증명하였다. 이러한 산정결과를 통해 레벨에 영향을 미치는 위험 속성 및 위험 제거시 전체위험의 감소율을 예상할 수 있다.

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The Influence of Organizational External Factors on Construction Risk Management among Nigerian Construction Companies

  • Adeleke, A.Q.;Bahaudin, A.Y.;Kamaruddeen, A.M.;Bamgbade, J.A.;Salimon, Maruf Gbadebo;Khan, Muhammad Waris Ali;Sorooshian, Shahryar
    • Safety and Health at Work
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    • v.9 no.1
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    • pp.115-124
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    • 2018
  • Background: Substantial empirical research has shown conflicting results regarding the influence of organizational external factors on construction risk management, suggesting the necessity to introduce a moderator into the study. The present research confirmed whether rules and regulations matter on the relationships between organizational external factors and construction risk management. Methods: Based on discouragement and organizational control theory, this research examined the effects of organizational external factors and rules and regulations on construction risk management among 238 employees operating in construction companies in Abuja and Lagos, Nigeria. A personally administered questionnaire was used to acquire the data. The data were analyzed using partial least squares structural equation modeling. Results: A significant positive relationship between organizational external factors and construction risk management was asserted. This study also found a significant positive relationship between rules and regulations and construction risk management. As anticipated, rules and regulations were found to moderate the relationship between organizational external factors and construction risk management, with a significant positive result. Similarly, a significant interaction effect was also found between rules and regulations and organizational external factors. Implications of the research from a Nigerian point of view have also been discussed. Conclusion: Political, economy, and technology factors helped the construction companies to reduce the chance of risk occurrence during the construction activities. Rules and regulations also helped to lessen the rate of accidents involving construction workers as well as the duration of the projects. Similarly, the influence of the organizational external factors with rules and regulations on construction risk management has proven that most of the construction companies that implement the aforementioned factors have the chance to deliver their projects within the stipulated time, cost, and qualities, which can be used as a yardstick to measure a good project.

A Development of Risk Performance Index for Mega-project Performance Measurement in view of the integrated Cost/Schedule/Risk (비용/공정/위험 통합 관점에서 메가 프로젝트 성과측정을 위한 위험성과지수 개발)

  • Kim, Seon-Gyoo;Park, Kyoo-Young;Yu, Young-Jeong
    • Korean Journal of Construction Engineering and Management
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    • v.10 no.1
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    • pp.69-77
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    • 2009
  • Recently, a research of the urban regeneration has been performed very actively. This is one of the efforts to resolve various social and economic problems coming from the existing deteriorated building and facilities by new urban development or redevelopment. However, an urban regeneration has a characteristic to be unable to ensure the project performance due to the exposed numerous risks coming from the various and complex stake-holders, and its mega sizes. This paper proposes the method of risk performance index in order to improve an efficiency of performance measurement expanding to the risk view point from the existing integrated cost/schedule performance measurement. A risk performance index is compatible with the existing EVMS, and can make the performance measurement in 3 dimensions of the integrated cost/schedule/risk with 18 sub-indexes and variables.

Quality Cost Mitigation Strategy through Satellite's Mission Assurance (임무보증활동을 통한 인공위성 품질비용 저감방안)

  • Kim, You-gwang;Lee, Woo-jun;Baek, Myung-jin;Chun, Young-Sik;Lee, Nak-young
    • Journal of Aerospace System Engineering
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    • v.9 no.2
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    • pp.41-46
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    • 2015
  • The various risk factors that affected schedule, costs and mission success, etc. in development of the satellite. This paper derives the considerable "Cost of Quality" factors in the satellite development phase through the survey of practical techniques in respect of measurement of quality cost in the commercial products manufacturing, and proposes mitigation strategy of quality cost using the approach that can be minimized it.

EVALUATING CRITICAL SUCCESS FACTORS FOR ACCURATE FIRST COST ESTIMATES OF LARGE-SCALE CONSTRUCTION PROJECTS

  • Jin-Lee Kim;Ok-Kyue Kim
    • International conference on construction engineering and project management
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    • 2009.05a
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    • pp.354-360
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    • 2009
  • The demands for large-scale construction projects such as Mega-projects are largely increasing due to the rapid growth of increasing populations as well as the need to replace existing buildings and infrastructure. Increasing costs of materials, supplies, and labors require the first cost estimates at the preliminary planning stage to be as accurate as possible. This paper presents the results obtained from the survey on evaluating nine critical success factors that influence the accurate first cost estimates for large-scale projects from practical experiences. It then examines the current cost structures of construction companies for large-scale projects, followed by the causes for cost and schedule overrun. Twenty completed surveys were collected and the Analytic Hierarchy Process was applied to analyze the data. The results indicate that technology issues, the contract type, and social and environmental impacts are the significant leading factors for accurate first cost estimates of large-scale construction projects.

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Development of Standard Systems through Analysis of Business Process the Risk Factors for the Korean Construction Management Firms (국내 CM기업의 리스크 인자별 관리 업무 프로세스 분석을 통한 표준업무체계 개발)

  • Park, Kyungmo;Kim, Changduk
    • Korean Journal of Construction Engineering and Management
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    • v.16 no.6
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    • pp.73-83
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    • 2015
  • Construction management firms in Korea have mainly focused on the key management areas of time, cost, quality and safety management in line with a rapid change of construction industry recently. However, a risk management is considered comparatively less important found from our research on an investment by the firms for training, system establishment. This has been identified that the construction management firms have taken an approach of dealing with risks with their experience, insight rather than managing risks with a systemized principles or proper tools. Therefore, the current system for risk management was identified by analyzing risk factors and work process in this research and systemized process for risk management of the identified risk factors was suggested. This research is expected to be a basis on establishing standard gudiance for risk management and risk management tools.

Evaluation of Quantity Discounts for Buyer's Stocking Risk

  • Shin, Ho-Jung;Benton, W.C.;Park, Soo-Hoon
    • Management Science and Financial Engineering
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    • v.16 no.3
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    • pp.21-47
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    • 2010
  • Quantity discounts provide a practical foundation for supply chain inventory policies, improving the supplier's profit and reducing the buyer's inventory cost simultaneously. Traditional quantity-discount research, which deals with inventory coordination between a buyer and a supplier, is extended to a stationary stochastic environment. This research shows that the magnitude of the optimal discounts scheduled by the deterministic quantity discount models may not be large enough to cover the buyer's additional inventory stocking risks under uncertain conditions. As a result, the buyer's total inventory cost may often increase rather than decrease. In contrast, the proposed model allows the supplier to identify the discount level, which shares the buyer's amplified risk associated with temporary overstocking and ensures that both buyer and supplier benefit economically. The performance of the proposed model was tested in the continuous review environments via numerical experiments. The experimental results support the proposed method as a feasible alternative in coordinating inventory decisions under stochastic demand.

Risk Management for Casuality Accident at Urban Railway Stations (도시철도 역사 내 철도안전사상사고 위험도 관리 방안)

  • Kim, Jin Tae;Kim, Si Gon;Kim, Yeon Kyu
    • KSCE Journal of Civil and Environmental Engineering Research
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    • v.36 no.3
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    • pp.529-534
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    • 2016
  • The paper suggests risk management methodology for alleviating casuality accidents at urban railway stations. Risk management deals with countermeasures for reducing accident probability or consequences to reach at the certain level of risk. First of all, Economic evaluations using cost and benefit for all the alternatives are performed. The alternatives exceeding B/C ratio greater than 1, each alternative is applied in the order of higher B/C ratio. this process is repeated when the level of risk is reduced as low as reasonably practical (ALARP). In order to determine the level of ALARP, Level of Service (LOS) for casuality risk at urban railway stations is proposed. The ALARP level is set to the LOS "C". Finally, a case study is applied to the Jongno 3-ga station, which is a highest risky station among all the stations operated by Seoul Metro and Seoul Metropolitan Rapid Transit Cooperation (SMRT).

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.

A Risk Performance Measurement System for the Mega-Project

  • Kim, Seon-Gyoo
    • Architectural research
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    • v.12 no.1
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    • pp.57-64
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    • 2010
  • In recent years, interests and studies on the urban regeneration projects have been increased and largely conducted. It is a part of the effort that solves some social and economical problems occurred by deteriorated buildings and degraded infrastructures through new urban regeneration projects or redevelopment projects. However, the urban regeneration projects show the characteristics that can not guarantee in the project performance because the projects have various and complex stakeholders related to these projects and are exposed to lots of risks due to its huge scale. This study proposed the risk performance index method to improve the efficiency of the overall performance measurement for a mega-project by extending from the traditional cost/schedule based performance measurement system. The risk performance index method proposed in this study has a similar system to the EVMS, and makes possible to perform a three dimensional integrated performance measurement in cost/schedule/risk through 18 different indexes that compose the risk performance index.