Cho, J.-H.; Shin, Y.-S.; Kim, J.-J.; Kim, B.-S. Exploring Cost Variability and Risk Management Optimization in Natural Disaster Prevention Projects. Buildings2024, 14, 391.
Cho, J.-H.; Shin, Y.-S.; Kim, J.-J.; Kim, B.-S. Exploring Cost Variability and Risk Management Optimization in Natural Disaster Prevention Projects. Buildings 2024, 14, 391.
Cho, J.-H.; Shin, Y.-S.; Kim, J.-J.; Kim, B.-S. Exploring Cost Variability and Risk Management Optimization in Natural Disaster Prevention Projects. Buildings2024, 14, 391.
Cho, J.-H.; Shin, Y.-S.; Kim, J.-J.; Kim, B.-S. Exploring Cost Variability and Risk Management Optimization in Natural Disaster Prevention Projects. Buildings 2024, 14, 391.
Abstract
The purpose of this study is to analyze the causes of cost variation in natural disaster prevention projects (NDPP) in Gyeongsangbuk-do and to develop effective cost and risk management strategies. The study collected data by conducting an online survey of 244 stakeholders. Binary logistic regression was used to analyze the impact of various variables on cost deviation, in-cluding project management risk (PMR), project costing and execution risk (PCER), project exe-cution strategy risk (PESR), construction project risk (CPR), project cost and schedule risk (PCSR), project management challenges (PMC), and construction project subcontractor and safety man-agement (CPSSM). The results showed that PMR (OR=3.744, 95% C.I. [1.657, 8.457]), PCER (OR=5.068, 95% C.I. [2.236, 11.484]), PESR (OR=3.447, 95% C.I. [1. 853, 6.413]), CPR (OR=2.292, 95% C.I. [1.020, 5.151]), PCSR (OR=4.817, 95% C.I. [2.250, 10.317]), PMC (OR=2.954, 95% C.I. [1.452, 6. 013]), and CPSSM (OR=2.419, 95% C.I. [1.297, 4.515]) had statistically significant effects on cost deviation. In particular, PMR, PCER, and PESR were identified as the main causes, and the effects of additional factors such as CPSSM were also important. The developed predictive model plays an important role in helping stakeholders of NDPP to manage risks in advance and take appro-priate preventive measures to ensure the success of the project. This study empirically supports the theoretical hypotheses of previous studies and provides a clear understanding of the causes of cost deviation in NDPP, which provides important insights for strategic decision-making and provides a new perspective on risk management.
Copyright:
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