• International conference on construction engineering and project management
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• 2024.07a
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• pp.532-539
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• 2024

Among various risk factors that need managing in large scale complex infrastructure projects, geotechnical risk is one of the most prominent factor particularly for underground works like tunnels. Uncertainties in soil conditions cannot be avoided 100% even after extensive geotechnical investigations. Therefore, underground works face large delays and cost overrun especially for hydropower projects in developing countries. Its uncertainty ex ante and ex post directly cause increased transaction cost in terms of contract administration, claims, variation orders and disputes. It also reduces trust and increases opportunistic behaviors due to asymmetric information between the parties. Subsequently, parties are spending more time on claim management rather than handling the project execution. Traditional project management tools are becoming less effective under these conditions. FIDIC published the Conditions of Contract for Underground Works wherein a Geotechnical Baseline Report (GBR) sets out the allocation of risks between the parties for subsurface physical conditions determining the foreseeable and unforeseeable conditions. At the same time, Building Information Modeling (BIM) is being adopted for efficient design, quality control and cost management. In this study, soil classification along the tunnel alignment for on-going hydropower projects is modelled in the virtual environment of Autodesk Revit (2024). The actual soil encountered along the tunnel during construction stage can be compared with the baseline conditions. In addition, BIM serves as a central source providing symmetric information to the Parties to develop an environment of trust and coordination. It is anticipated that these tools will improve the project management skills for underground works through minimizing the opportunistic behavior and transaction cost.

• Journal of Korea Water Resources Association
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• v.49 no.8
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• pp.657-671
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• 2016

It is expected that water resources will be changed spatially and temporally due to the global climate change. The quantitative assessment of change in water availability and appropriate water resources management measures are needed for corresponding adaptation. However, there are large uncertainties in climate change impact assessment on water resources. For this reason, development of technology to evaluate the uncertainties quantitatively is required. The objectives of this study are to develop the climate change uncertainty assessment method and to apply it. The 5 RCMs (HadGEM3-RA, RegCM4, MM5, WRF, and RSM), 5 statistical post-processing methods (SPP) and 2 hydrological models (HYM) were applied for evaluation. The results of the uncertainty analysis showed that the RCM was the largest sources of uncertainty in Spring, Summer, Autumn (29.3~68.9%), the hydrological model was the largest source of uncertainty in Winter (46.5%). This method can be possible to analyze the changes in the total uncertainty according to the specific RCM, SPP, HYM model. And then it is expected to provide the method to reduce the total uncertainty.

• Journal of Information Technology Applications and Management
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• v.15 no.3
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• pp.195-208
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• 2008

In an emergency management case, evaluating the economic value of information technology investments is a challenging problem due to the effects of decision making, uncertainty of disasters, and difficulty of measurements. Risk assessment and recovery process, one of the major functions in emergency management, consists of (1) measurement of damages or losses, (2) recovery planning, (3) reporting and approving budgets, (4) auctioning off recovery projects to constructors, and (5) construction for the recovery. Specifically and of our interest, measurement of damages or losses is often a costly and time-consuming process because the wide range of field surveys should be performed by a limited pool of trained agents. Managers, therefore, have to balance accuracy of the field survey against the total time to complete the survey. Using information technologies to support field survey and reporting has great potential to reduce errors and lowers the cost of the process. However, existing cost benefit analysis framework may be problematic to evaluate and justify the IT investment because the cost benefit analysis often include the long-run benefit of IT that is difficult to quantify and overlook the impact of managerial control upon the investment outcomes. Therefore, we present an alternative cost-centric control model that conservatively quantifies all cost savings to replace benefits in cost benefit analysis and incorporate the managerial control. The model provides a framework to examine how managerial decision making and uncertainty of disaster affect the economic value of IT investments. The current project in Emergency Agency in South Korea is introduced as a case to apply the cost-centric control model. Our work helps managers to better evaluate and justify IT-related investment alternatives in emergency management.

• Safety and Health at Work
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• v.11 no.2
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• pp.127-135
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• 2020

A safe work environment is crucial in high-risk industries, such as construction refurbishment. Safety incidents caused by uncertainty and unexpected events in construction refurbishment systems are difficult to control using conventional safety management techniques. Resilience engineering (RE) is proposed as an alternative to traditional safety management approaches. It presents a successful safety management methodology designed to deal with uncertainty in high-risk work environments. Despite the fact that RE resides in the safety domain, there is no common set of RE indicators to measure and assess resilient in the work environment. The main aim of this research is to explore RE indicators that have been identified as important in developing and assessing the resilient work environment in high-risk industries, particularly in construction refurbishment. Indicators have been attained through a systematic literature review of research and scholarly articles published between the years 2004 and 2019. The literature review explored RE indicators in various industries. Descriptive analysis and co-occurrence-based network visualization were used for data analysis. The findings revealed 28 RE indicators in 11 different high-risk industries. The results show that the four commonly used indicators were: top-management commitment, awareness, learning, and flexibility, all of which have a strong relationship with RE. The findings of this study are useful for stakeholders when making decisions concerning the most important RE indicators in the context of their research or practice as this would avoid the ambiguity and disparity in the identification of RE indicators.

• Korean Management Science Review
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• v.15 no.2
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• pp.211-227
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• 1998

The process of implementing risk management systems for the organizations in financial service industry can be viewed as a diffusion of innovation since the introduction of the risk management systems changes the decision making process on risks faced by the organizations. The purpose of the reported research is to examine the factors that affect the successful implementation of ALM(asset & liability management) systems, the risk management systems managing interest rate risk. Specifically, this paper presents an investigation of three factors from the diffusion of innovation studies; internal factors, external factors, and time. A field survey was conducted for Korean banks that have implemented ALM systems. The results suggest that the perceived uncertainty of market, system supports, and management supports be most significantly related to the successful implementation of the risk management systems. The findings of the current study also suggest a certain amount of time should be passed to diffuse the risk management systems in organizations.

• Korean Journal of Construction Engineering and Management
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• v.10 no.1
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• pp.91-101
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• 2009

The factors of uncertainty such as work delay could cause many problems, for example, increase of construction cost and terms of work, and the deterioration of quality. Because of these, the uncertainty risk is regarded as an important management factor to obtain the success of construction project. So, the systematic management plan about the uncertainty factors is needed because it plays an important role in the completion of entire project. And also analysis of some factors which can cause the work delay can be one way of improving construction project's certainty and making it competitive. In this reason, we have to make an effort to set a priority based on analysis of quantitatively numerical value about work delay factors to manage them effectively. Thus, this study aims to suggest the basic data for the effective management and prevention of work delay in steel-frame work which is progressive actively now, along with increasing of demand of high-rise buildings by analyzing each reasons of work delay factors and also by suggesting important management factors that are coded according to each construction work using FMEA method which could give a data about the importance of work delay factors through quantitatively numerical value.

• Korean Journal of Construction Engineering and Management
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• v.19 no.5
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• pp.3-9
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• 2018

Although Life Cycle Cost (LCC) must be evaluated by experts, sometimes it may not allow a sufficient time for even the experienced LCC expert to make rational decisions. Therefore, it often ends with relatively comparing the final numbers. We have broken down 110 technical proposals that are actually bade and accepted for large construction projects, and then have analyzed the uncertainty of Maintenance and Energy (M&E) cost during building life cycle, which turns out be the most volatile factor in uncertainty of LCC. Also we suggest "Value Engineering Index (VEI)" - the reduced M&E cost that is normalized by the reduced first cost. It is analyzed that the most uncertain factors of the M&E cost include repair and replacement term differing from each project, duplicated repair and replacement, non-standard repair items, and site-specific energy cost. Eventually we propose a VEI population with a mean of 1.38 and a standard deviation of 1.19, which is obtained by individually and exclusively applying the uncertain factors of the M&E cost to the 35 standard sample of technical proposals. The LCC evaluators may be able to use the VEI population as the benchmark to select the technical proposal with the most reasonable LCC among many others in two suggested manners; the one is to deterministically calculate the probability of single VEIs, and the other is to stochastically calculate the probability of the VEIs where uncertainty is quantified.

• Journal of Wetlands Research
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• v.21 no.2
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• pp.114-124
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• 2019

The objective of this study is to reduce the uncertainty of the river discharge estimation method using the stage-discharge relation curve. It is necessary to consider the quantitative and accurate estimation method because the river discharge data is essential data for hydrological interpretation and water resource management. For this purpose, the parameters estimated by Bayesian and Bootstrap methods are compared with the ones obtained by stage-discharge relation curve. In addition, the Bayesian and Bootstrap methods are applied to assess uncertainty and then those are compared with the confidence intervals of the results from standard error method which has t-distribution. From the results of this study, The estimated value of the regression analysis developed through this study is less than 1 ~ 5%. Also It is confirmed that there are some areas where the applicability is better than the existing one according to the water level at each point. Therefore, if we use more suitable method according to the river characteristics, we could obtain more reliable discharge with less uncertainty.

• International conference on construction engineering and project management
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• 2015.10a
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• pp.4-5
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• 2015

Owning to rapid infrastructure development, Asia is experiencing dramatic economic growth. There are not a few cases in which, however, economic growth is achieved by increasing the external diseconomy. Pursuit of sustainable development is one of the most important issues for mankind. Under the post-industrial capitalism society, however, there seems a big risk of increase in the external diseconomy worldwide. The objectives of this manuscript are to discuss importance of risk management of construction practice in present and future. Regarding the latter, a particular attempt is made to discuss how project risk communication should be done to reduce the external diseconomy. Presently, one of the important issues in implementation of infrastructure projects is practice of risk management to properly manage time, cost, quality, and safety: mainly maximization of internal economy. Multi-party risk and uncertainty management process (MRUMP) is one of tolls to assist it. The idea on MRUMP can be used to reduce the external diseconomy through identifying, sharing, and tuning people's rhythms.

• Journal of the Korean Society for Aeronautical & Space Sciences
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• v.43 no.12
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• pp.1116-1123
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• 2015

The lifetime of a geostationary satellite depends on the residual propellant amount and therefore the precise residual propellant gauging is very important for the mitigation of economic loss arised from premature removal of satellite from its orbit, satellites replacement planning, slot management and so on. In this paper, the thermal mass method and its uncertainty are described. The residual propellant analysis of a geostationary satellite is simulated based on the KOREASAT data and the uncertainty of thermal mass method is calculated by using the Monte Carlo method. The results of this study show the importance parameter of estimation residual propellant using the thermal mass method.