Big data analysis model for predicting operational risk in overseas construction projects

In this study, a big data analysis model was developed to predict the risks associated with overseas projects and a big data analysis technique. The risk analysis model can estimate the probability-cost interval for a planned project’s final cost by forming a probability density function and project...

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Main Authors: Jiyeong Yun, Kyeongtae Jeong, Jongyoung Youn, Donghoon Lee
Format: Article
Language:English
Published: Taylor & Francis Group 2022-11-01
Series:Journal of Asian Architecture and Building Engineering
Subjects:
Online Access:http://dx.doi.org/10.1080/13467581.2021.2007100
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author Jiyeong Yun
Kyeongtae Jeong
Jongyoung Youn
Donghoon Lee
author_facet Jiyeong Yun
Kyeongtae Jeong
Jongyoung Youn
Donghoon Lee
author_sort Jiyeong Yun
collection DOAJ
description In this study, a big data analysis model was developed to predict the risks associated with overseas projects and a big data analysis technique. The risk analysis model can estimate the probability-cost interval for a planned project’s final cost by forming a probability density function and project costs through comparative analysis of data for a planned project and data for a previous similar project. This study attempted to collect a vast amount of information from the web and social networking services (SNS) in order to verify whether this information is sufficient to support the use of the web data analysis method used in this model. To this end, it was assumed that regional traffic conditions would be indicated on the web and SNS. In addition, two regions with different traffic conditions were selected, and then traffic-related keywords and words to enable assessment of traffic conditions were examined. Text information including these words was collected and the proportions of positive and negative words were analyzed. Results confirmed that two regions with different traffic conditions also had different numbers of negative words exhibited on the web.
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spelling doaj.art-e72ae9f6eb304e5892acea0e29ff37002023-01-05T12:01:26ZengTaylor & Francis GroupJournal of Asian Architecture and Building Engineering1347-28522022-11-012162524253110.1080/13467581.2021.20071002007100Big data analysis model for predicting operational risk in overseas construction projectsJiyeong Yun0Kyeongtae Jeong1Jongyoung Youn2Donghoon Lee3Hanbat National UniversityHanbat National UniversityHanbat National UniversityHanbat National UniversityIn this study, a big data analysis model was developed to predict the risks associated with overseas projects and a big data analysis technique. The risk analysis model can estimate the probability-cost interval for a planned project’s final cost by forming a probability density function and project costs through comparative analysis of data for a planned project and data for a previous similar project. This study attempted to collect a vast amount of information from the web and social networking services (SNS) in order to verify whether this information is sufficient to support the use of the web data analysis method used in this model. To this end, it was assumed that regional traffic conditions would be indicated on the web and SNS. In addition, two regions with different traffic conditions were selected, and then traffic-related keywords and words to enable assessment of traffic conditions were examined. Text information including these words was collected and the proportions of positive and negative words were analyzed. Results confirmed that two regions with different traffic conditions also had different numbers of negative words exhibited on the web.http://dx.doi.org/10.1080/13467581.2021.2007100overseas construction projectsbig datarisk managementrisk analysis modelproject risk
spellingShingle Jiyeong Yun
Kyeongtae Jeong
Jongyoung Youn
Donghoon Lee
Big data analysis model for predicting operational risk in overseas construction projects
Journal of Asian Architecture and Building Engineering
overseas construction projects
big data
risk management
risk analysis model
project risk
title Big data analysis model for predicting operational risk in overseas construction projects
title_full Big data analysis model for predicting operational risk in overseas construction projects
title_fullStr Big data analysis model for predicting operational risk in overseas construction projects
title_full_unstemmed Big data analysis model for predicting operational risk in overseas construction projects
title_short Big data analysis model for predicting operational risk in overseas construction projects
title_sort big data analysis model for predicting operational risk in overseas construction projects
topic overseas construction projects
big data
risk management
risk analysis model
project risk
url http://dx.doi.org/10.1080/13467581.2021.2007100
work_keys_str_mv AT jiyeongyun bigdataanalysismodelforpredictingoperationalriskinoverseasconstructionprojects
AT kyeongtaejeong bigdataanalysismodelforpredictingoperationalriskinoverseasconstructionprojects
AT jongyoungyoun bigdataanalysismodelforpredictingoperationalriskinoverseasconstructionprojects
AT donghoonlee bigdataanalysismodelforpredictingoperationalriskinoverseasconstructionprojects