| Title |
Risk Assessment and Contingency Prediction considering Work Characteristics for Modular Plant Construction Projects |
| Authors |
Kang, Hyunwook ; Kim, Jongwook ; Kim, Yongsu |
| DOI |
http://dx.doi.org/10.6106/KJCEM.2018.19.5.081 |
| Keywords |
Modular Plant ; Risk Assessment ; Contingency Prediction |
| Abstract |
The purpose of this study is to assess the risk and predict the contingency for modular plant construction projects. Considering the work characteristics of the modular plant, The adapted research method is that suggest models for assessment impact of risk and predict the contingency considering risk. Based on the proposed models, It is selected one modular plant construction project and assessment impact of risk factors and predicted the contingency. The results of this study are as follows: Assessment the probability of occurrence of risk factors and intensity of impact, and extract 15 important risk factors. These are classified as Engineering, Procurement, Fabrication, Transportation, Construction phases to consider the work characteristics of the modular plant. The predicted contingency is that 6.739%(Engineering 2.850%, Procurement 6.225%, Fabrication 6.211%, Transportation 4.165%, Construction 8.168%) to prepare the basic business expense. The model is used as a way to derive quantitative results in the decision-making process for risk management in construction projects. |