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    LDA-Based Model for Measuring Impact of Change Orders in Apartment Projects and Its Application for Prerisk Assessment and Postevaluation

    Source: Journal of Construction Engineering and Management:;2015:;Volume ( 141 ):;issue: 007
    Author:
    Sanghyo Lee
    ,
    Sungho Tae
    ,
    Namyong Jee
    ,
    Sungwoo Shin
    DOI: 10.1061/(ASCE)CO.1943-7862.0000971
    Publisher: American Society of Civil Engineers
    Abstract: This study analyzed the impact of change orders on construction projects by using the loss distribution approach (LDA), which is used in finance to analyze operational risks, and proposed a framework for applying the LDA to construction. It examined 9,028 change orders for 237 apartment housing projects in South Korea. Prior to the analysis, the change-order factors were classified into five categories and the work types into eight categories in order to form a risk matrix. The severity and frequency distributions of each cell were calculated based on the risk matrix. Because the amount of loss can vary depending on the construction cost,
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      LDA-Based Model for Measuring Impact of Change Orders in Apartment Projects and Its Application for Prerisk Assessment and Postevaluation

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    http://yetl.yabesh.ir/yetl1/handle/yetl/78971
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    contributor authorSanghyo Lee
    contributor authorSungho Tae
    contributor authorNamyong Jee
    contributor authorSungwoo Shin
    date accessioned2017-05-08T22:22:25Z
    date available2017-05-08T22:22:25Z
    date copyrightJuly 2015
    date issued2015
    identifier other43575526.pdf
    identifier urihttp://yetl.yabesh.ir/yetl/handle/yetl/78971
    description abstractThis study analyzed the impact of change orders on construction projects by using the loss distribution approach (LDA), which is used in finance to analyze operational risks, and proposed a framework for applying the LDA to construction. It examined 9,028 change orders for 237 apartment housing projects in South Korea. Prior to the analysis, the change-order factors were classified into five categories and the work types into eight categories in order to form a risk matrix. The severity and frequency distributions of each cell were calculated based on the risk matrix. Because the amount of loss can vary depending on the construction cost,
    publisherAmerican Society of Civil Engineers
    titleLDA-Based Model for Measuring Impact of Change Orders in Apartment Projects and Its Application for Prerisk Assessment and Postevaluation
    typeJournal Paper
    journal volume141
    journal issue7
    journal titleJournal of Construction Engineering and Management
    identifier doi10.1061/(ASCE)CO.1943-7862.0000971
    treeJournal of Construction Engineering and Management:;2015:;Volume ( 141 ):;issue: 007
    contenttypeFulltext
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