• Title/Summary/Keyword: risk management framework

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Japan's experience on long-span bridges monitoring

  • Fujino, Yozo;Siringoringo, Dionysius M.;Abe, Masato
    • Structural Monitoring and Maintenance
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    • v.3 no.3
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    • pp.233-257
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    • 2016
  • This paper provides an overview on development of long-span bridges monitoring in Japan, with emphasis on monitoring strategies, types of monitoring system, and effective utilization of monitoring data. Because of severe environment condition such as high seismic activity and strong wind, bridge monitoring systems in Japan historically put more emphasis on structural evaluation against extreme events. Monitoring data were used to verify design assumptions, update specifications, and facilitate the efficacy of vibration control system. These were among the first objectives of instrumentation of long-span bridges in a framework of monitoring system in Japan. Later, monitoring systems were also utilized to evaluate structural performance under various environment and loading conditions, and to detect the possible structural deterioration over the age of structures. Monitoring systems are also employed as the basis of investigation and decision making for structural repair and/or retrofit when required. More recent interest has been to further extend application of monitoring to facilitate operation and maintenance, through rationalization of risk and asset management by utilizing monitoring data. The paper describes strategies and several examples of monitoring system and lessons learned from structural monitoring of long-span bridges in Japan.

Reliable monitoring of embankment dams with optimal selection of geotechnical instruments

  • Masoumi, Isa;Ahangari, Kaveh;Noorzad, Ali
    • Structural Monitoring and Maintenance
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    • v.4 no.1
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    • pp.85-105
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    • 2017
  • Monitoring is the most important part of the construction and operation of the embankment dams. Applied instruments in these dams should be determined based on dam requirements and specifications. Instruments selection considered as one of the most important steps of monitoring plan. Competent instruments selection for dams is very important, as inappropriate selection causes irreparable loss in critical condition. Lack of a systematic method for determining instruments has been considered as a problem for creating an efficient selection. Nowadays, decision making methods have been used widely in different sciences for optimal determination and selection. In this study, the Multi-Attribute Decision Making is applied by considering 9 criteria and categorisation of 8 groups of geotechnical instruments. Therefore, the Analytic Hierarchy Process and Multi-Criteria Optimisation and Compromise Solution methods are employed in order to determine the attributes' importance weights and to prioritise of instruments for embankment dams, respectively. This framework was applied for a rock fill with clay core dam. The results indicated that group decision making optimizes the selection and prioritisation of monitoring instruments for embankment dams, and selected instruments are reliable based on the dam specifications.

Intelligent Anti-Money Laundering Systems Development for the Korea Financial Intelligence Unit

  • Shin Kyung-Shik;Kim Hyun-Jung;Lee In-Ho;Kim Hyo-Sin;Kim Jae-Sik
    • Proceedings of the Korea Inteligent Information System Society Conference
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    • 2006.06a
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    • pp.294-300
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    • 2006
  • This case study shows constructing the knowledge-based system using a rule-based approach for detecting transactions regarding money laundering in the Korea Financial Intelligence Unit (KoFIU). To better manage the explosive increment of low risk suspicious transactions reporting from financial institutions and to conjugate data converged into the KoFIU from various organizations, the adoption of a knowledge-based system is definitely required. We designed and constructed the knowledge-based system for anti-money laundering by committing experts of each specific financial industry co-worked with a knowledge engineer. The outcome of the knowledge base implementation shows that the knowledge-based system is filtering STRs in the primary analysis step efficiently and so has made great contribution to improve efficiency and effectiveness of the analysis process. It can be said that establishing the foundation of the knowledge base under the entire framework of the knowledge-based system for consideration of knowledge creation and management is indeed valuable.

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PHealth Service Deployment Methodology: A Case Study

  • Paggetti, Cristiano;Rugnone, Alberto;Tamburini, Elena;Nugent, Chris
    • Journal of Computing Science and Engineering
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    • v.6 no.1
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    • pp.60-66
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    • 2012
  • It has been proved that information and communication technology (ICT) solutions for personalized health (PHealth) and ambient assisted living (AAL) can support people in their daily life activities. Several solutions have been demonstrated to empower different levels of services through seamless data acquisition and specific users' interaction modalities. Usually services usability and accessibility are handled in the design process and are validated with small users' groups. Moreover, while service design and systems development have been extensively described in literature, service deployment methodologies are not properly addressed and documented. Proper reference guidelines are also missing. The most common methodologies like unified process (UP) or ICONX can cover only the design and the development of PHealth services without a clear description on the following phases such as deployment, service provision and maintenance. These phases present several risks to be taken into account right from the beginning of the implementation of PHealth or AAL services. This paper focuses on the description of a structured methodology to deploy PHealth services and how this process can be supported by integrated software routines and adapting the UP framework in particular the "Transition phase."

An Empirical Study on the Investment Evaluation of Korean Global Companies Using a Real Option Valuation Model (우리나라 글로벌 기업의 실물옵션을 이용한 투자안 평가 실증연구)

  • Jeong, Eui-Jong
    • Plant Journal
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    • v.8 no.3
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    • pp.42-48
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    • 2012
  • Under traditional analysis of the capital budgeting, NPV, it is assumed that management cannot react to deviation from the expected scenario of cash flow at the time of evaluation. In practice, however, it is less likely that the expected scenario will come true when new information arrives and uncertainty is resolved. Uncertainty and risk can be influenced through 'managerial flexibility', which becomes a central instrument for value creation. Real option framework including option to defer, option for staged investment, option to alter, option to abandon, option to switch, etc. takes this managerial flexibility into account. Therefore, it is more appropriate to use real option method to evaluate the project than the traditional DCF(discounted cash flow) tool if the firm has high volatility of the expected returns.

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An Empirical Testing of a House Pricing Model in the Indian Market

  • HODA, Najmul;JAFRI, Syed Ashraf;AHMAD, Naim;HUSSAIN, Syed Mannawar
    • The Journal of Asian Finance, Economics and Business
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    • v.7 no.8
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    • pp.33-40
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    • 2020
  • The main aim of the study is to test a house pricing model by combining hedonic and asset-based pricing models. An understanding of the relationship between house pricing and its return (the rental income) helps to establish houses as a significant asset class. The model tested the relationship between house pricing (dependent variable) and the house attributes (independent variables) derived from Freeman's framework of housing attributes. This study uses a large data-set of 1,899 sample of new, high-end houses purchased between 2016 and 2019 collected from the national capital region of India (Delhi-NCR). The algorithm was built in R-Script, and stepwise multiple linear regression was used to analyze the model. The analysis of the model proves that the three significant variables, namely, carpet area, pay-off, and annual maintenance charges explain the price function. Further, the model is statistically fit. The major contribution of the study is to understand the key factors and their influence on the house pricing. The model will be helpful in risk assessment in the housing investment and enhance the chances of investment. Policy-makers can use information about the underlying valuation drivers of the house prices to stabilize the market and also in framing the tax policies.

A Study on the Consumer Factors Affecting Private Brand Proneness (Private Brand 제품구매에 미치는 영향 연구)

  • Yun, Cha-Young;Kwon, Young-Sang
    • Journal of Industrial Convergence
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    • v.2 no.1
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    • pp.159-186
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    • 2004
  • One of the biggest change in the distributive market recently is that the development of private brand is progress actively since consumers purchasing behavior is tend to shift to resonable and practical planned purchase from brand image or brand name. Once the development of private brands is done successfully, the independent merchandising distinguished from other distribution companies is established, store image through customer satisfaction is strengthen and volume of sales and profit are increased. However, the existing studies in this field have not dealt with this matter systematically. Therefore, the purpose of this study is to propose an integrated framework within which to view private brand proneness. Factors found to influence private brand proneness included perceived cost, with private brand, perceived value for money, store fame, perceived risk, perceived quality variation between national and private brand products. Foe empirical analysis, the data were collected from 211 consumers who purchased the private brands in discount store and department store. With the collected survey data, reliability test, factor analysis for validity test and regression analysis for hypotheses test were conducted. Most hypotheses were accepted but on hypotheses were rejected negative relation of perceived cost and private brand proneness. Research results indicate that private brand proneness is affected by perceived value, perceived fame and there are negative relation between private brand proneness and perceived quality variation.

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Study on Developing the Information System for ESG Disclosure Management (ESG 정보공시 관리를 위한 정보시스템 개발에 관한 연구)

  • Kim, Seung-wook
    • Journal of Venture Innovation
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    • v.7 no.1
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    • pp.77-90
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    • 2024
  • While discussions on ESG are actively taking place in Europe and other countries, the number of countries pushing for mandatory ESG information disclosure related to non-financial information of listed companies is rapidly increasing. However, as companies respond to mandatory global ESG information disclosure, problems are emerging such as the stringent requirements of global ESG disclosure standards, the complexity of data management, and a lack of understanding and preparation of the ESG system itself. In addition, it requires a reasonable analysis of how business management opportunities and risk factors due to climate change affect the company's financial impact, so it is expected to be quite difficult to analyze the results that meet the disclosure standards. In order to perform tasks such as ESG management activities and information disclosure, data of various types and sources is required and management through an information system is necessary to measure this transparently, collect it without error, and manage it without omission. Therefore, in this study, we designed an ESG data integrated management model to integrate and manage various related indicators and data in order to transparently and efficiently convey the company's ESG activities to various stakeholders through ESG information disclosure. A framework for implementing an information system to handle management was developed. These research results can help companies facing difficulties in ESG disclosure at a practical level to efficiently manage ESG information disclosure. In addition, the presentation of an integrated data management model through analysis of the ESG disclosure work process and the development of an information system to support ESG information disclosure were significant in the academic aspects needed to study ESG in the future.

Development of the Knowledge-based Systems for Anti-money Laundering in the Korea Financial Intelligence Unit (자금세탁방지를 위한 지식기반시스템의 구축 : 금융정보분석원 사례)

  • Shin, Kyung-Shik;Kim, Hyun-Jung;Kim, Hyo-Sin
    • Journal of Intelligence and Information Systems
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    • v.14 no.2
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    • pp.179-192
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    • 2008
  • This case study shows constructing the knowledge-based system using a rule-based approach for detecting illegal transactions regarding money laundering in the Korea Financial Intelligence Unit (KoFIU). To better manage the explosive increment of low risk suspicious transactions reporting from financial institutions, the adoption of a knowledge-based system in the KoFIU is essential. Also since different types of information from various organizations are converged into the KoFIU, constructing a knowledge-based system for practical use and data management regarding money laundering is definitely required. The success of the financial information system largely depends on how well we can build the knowledge-base for the context. Therefore we designed and constructed the knowledge-based system for anti-money laundering by committing domain experts of each specific financial industry co-worked with a knowledge engineer. The outcome of the knowledge base implementation, measured by the empirical ratio of Suspicious Transaction Reports (STRs) reported to law enforcements, shows that the knowledge-based system is filtering STRs in the primary analysis step efficiently, and so has made great contribution to improve efficiency and effectiveness of the analysis process. It can be said that establishing the foundation of the knowledge base under the entire framework of the knowledge-based system for consideration of knowledge creation and management is indeed valuable.

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A Study on the Growth Proccess and Strategic Niche Management of New Energy Technology: A Case Study with Government Supporting Photovoltaic R&D Project (전략적 니치관리(SNM)를 활용한 정부 신재생 R&D 성장과정 분석)

  • Kim, Bong-Gyun;Moon, Sun-Woo
    • Journal of Technology Innovation
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    • v.20 no.2
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    • pp.161-187
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    • 2012
  • Recently, environmentally friendly technology are becoming important due to reconsideration about climate change and environmental pollution. In addition, as well as technical skills and social interaction through an analysis of the nonlinear transition management and policy implementation are emerging. This study of the development of photovoltaic industry in Korea 10 years analyze with strategic niche management (SNM) based on the theoretical and multi-layered perspective (MLP) is used as the analytical framework. Choose the gerverment-support project for niche technology, through a process of quantifying and alnalyze the phase transition to Regime with the numerical method and policy vision, learning effects, and network that key elements of SNM, MLP. Through the analysis of the photovoltaic industry technology-commercialization phase was investigated. This conventional overall and step-by-step model for technical management is proposed to replace exiting linear and narrow method and through the case study its validity was confirmed.

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