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Risk Management in a Large-Scale New Railway Transport System Project

Title
Risk Management in a Large-Scale New Railway Transport System Project
Author
서선덕
Keywords
Engineering risks; Korea Train Express; Risk management; System procurement; High-speed railway system
Issue Date
2000-10
Publisher
Elsevier
Citation
IATSS Research, v. 24, no. 2, page. 53-63
Abstract
Risk management experiences of the Korean Seoul-Pusan high-speed railway (KTX) project since the planning stage are evaluated. One can clearly see the interplay of engineering and construction risks, financial risks and political risks in the development of the KTX project, which is the peculiarity of large-scale new railway system projects. A brief description on evaluation methodology and overview of the project is followed by detailed evaluations on key differences in risks between conventional railway system and high-speed railway system, social and political risks, engineering and construction risks, and financial risks. Risks involved in system procurement process, such as proposal solicitation, evaluation, selection, and scope of solicitation are separated out and evaluated in depth. Detailed events resulting from these issues are discussed along with their possible impact on system risk. Lessons learned and further possible refinements are also discussed.
URI
https://www.sciencedirect.com/science/article/pii/S0386111214600297https://repository.hanyang.ac.kr/handle/20.500.11754/162535
ISSN
0386-1112
DOI
10.1016/S0386-1112(14)60029-7
Appears in Collections:
COLLEGE OF ENGINEERING SCIENCES[E](공학대학) > TRANSPORTATION AND LOGISTICS ENGINEERING(교통·물류공학과) > Articles
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