Improving the analysis of technical risk factors using the integrated FLDS model on the example of the construction of multi-storey residential buildings

Introduction. This study is aimed at developing a model of the life cycle of a multi-storey residential building, taking into account the factors of technical risks. This model makes it possible to identify the main factors of technical risks at different stages of a project’s life and predict its behavior. After examining an extensive list of both domestic and foreign literature, it is clear that the systematization and classification of the elements of the life cycle of a construction object in conditions of technical risk factors is an urgent task in the construction industry. The purpose of the study is to develop the most effective mathematical model for determining and predicting the influence of technical risk factors on the life cycle of a multi-storey residential building. Materials and methods. The study is based not only on an extensive review of scientific literature, whose attention is focused on technical risks, but also analyzed the stages of the life cycle of buildings and structures, used the method of analogies and the method of diagrams, based on the theory of fuzzy set and the Dempster-Schafer theory, a mathematical model of FLDS is formed, so an expert survey was conducted with leading experts in the construction industry, on the basis of which the selection of the main factors of technical risks is formed. Results. The problem of analyzing technical risks in the construction industry plays a significant role, this is due to the construction of a significant number of modern structures that are unique in their kind, both from an architectural point of view, and from the point of view of the originality of design and technological solutions. Conclusions. Due to the uncertainty of experts’ opinions regarding the likelihood of occurrence and the degree of impact of risk factors, a demonstrative mathematical model of FLDS based on two theories is proposed, which allows numerically determining and distributing the influence of a risk factor by ranks. The result of the study shows that the application of the FLDS mathematical model will significantly increase the success of the project, allowing you to see the critical factors of technical risks at the initial stage of the life cycle of a construction project.

Urgensi Fatwa DSN-MUI Mengenai Manajemen Risiko Pembiayaan Berbasis Syariah

Risk management at Islamic financial institutions is still implementing bank Indonesia (BI) and Financial Services Authority (OJK) policies which previously applied the same to conventional financial institutions. The perfection of the enforcement of sharia principles in sharia financing institutions is not enough only in the aspect of transactional mechanisms, it needs to be supported by a sharia-based risk management system. The focus of this research includes the characteristics of Islamic financing, juridical aspects in the principle of prudence, and an overview of the maslahah of the urgency of sharia-based risk management. This research is normative legal research using a statutory approach and a benefits approach with a qualitative descriptive analysis. The results of the discussion show that a dynamic system also needs to be supported by juridical aspects to provide the legal force with the realization of regulatory solidity. At this regulatory level, in addition to the regulations issued by the OJK, the DSN-MUI fatwa is also very necessary and has a very urgent position. Because financing risk management is also part of the sharia economy that must maintain sharia principles, lest the application of sharia principles only exists in product technicalities, but does not apply to technical risk management. The expected sharia is the application of total sharia principles (kaffah), not partial ones.

Methodological provisions for assessing scientific and technical risk and financial losses during development works to create complex technical systems

Subject. The article addresses scientific and technical risk and financial losses of the customer in the process of research and development works on the creation of complex technical systems. Objectives. The study aims at constructing and analyzing the dependence of scientific and technical risk and financial losses of the customer on the planned volume of development works and the financial resources invested in them. Methods. We apply methods of probability theory and mathematical statistics, system and regression analysis, risk assessment and management. The paper rests on data on completed development projects for complex technical systems creation. Results. We formulated methodological provisions for assessing scientific and technical risk, arising in the process of development works on complex technical systems. The paper presents an algorithm for calculating the expected financial losses from works implementation. The problem of minimizing financial losses associated with scientific and technical risk is formulated and formalized. The feasibility of proposed provisions and recommendations is confirmed by a practical example. Conclusions. To assess risks, it is important to consider the impact of the degree of difference between the main characteristics of developed product and its prototype on the required amount of works at development stage. This enables to build regression dependencies of the volume of works at the development stage on a specified factor, which are later used to assess the scientific and technical risk and associated financial losses.

A Digitalized Design Risk Analysis Tool with Machine-Learning Algorithm for EPC Contractor’s Technical Specifications Assessment on Bidding

Engineering, Procurement, and Construction (EPC) projects span the entire cycle of industrial plants, from bidding to engineering, construction, and start-up operation and maintenance. Most EPC contractors do not have systematic decision-making tools when bidding for the project; therefore, they rely on manual analysis and experience in evaluating the bidding contract documents, including technical specifications. Oftentimes, they miss or underestimate the presence of technical risk clauses or risk severity, potentially create with a low bid price and tight construction schedule, and eventually experience severe cost overrun or/and completion delays. Through this study, two digital modules, Technical Risk Extraction and Design Parameter Extraction, were developed to extract and analyze risks in the project’s technical specifications based on machine learning and AI algorithms. In the Technical Risk Extraction module, technical risk keywords in the bidding technical specifications are collected, lexiconized, and then extracted through phrase matcher technology, a machine learning natural language processing technique. The Design Parameter Extraction module compares the collected engineering standards’ so-called standard design parameters and the plant owner’s technical requirements on the bid so that a contractor’s engineers can detect the difference between them and negotiate them. As described above, through the two modules, the risk clauses of the technical specifications of the project are extracted, and the risks are detected and reconsidered in the bidding or execution of the project, thereby minimizing project risk and providing a theoretical foundation and system for contractors. As a result of the pilot test performed to verify the performance and validity of the two modules, the design risk extraction accuracy of the system module has a relative advantage of 50 percent or more, compared to the risk extraction accuracy of manual evaluation by engineers. In addition, the speed of the automatic extraction and analysis of the system modules are 80 times faster than the engineer’s manual analysis time, thereby minimizing project loss due to errors or omissions due to design risk analysis during the project bidding period with a set deadline.

A Massively Parallel Approach to Automated Software Correctness Enhancement in Java

Software product faults are an inevitable and an undesirable byproduct of any software development. Often hard to detect they are a major contributing factor to the overall development and support costs and a source of technical risk for the application as a whole. The criticality of the impact has resulted in several decades of non-stop iterative improvements, aimed at avoiding and detecting the faults through development and application of sophisticated automated testing and validation systems, Finding the exact source of error, creating a patch to fix it and validating it for production release is still a highly manual activity. In this paper we build upon the theoretical framework of relative correctness, which we have laid out in our previous work, and present a massively parallel automated tool implementing it in order to support root cause analysis and patch generation.

Identifikasi Risiko Keselamatan Pada Proyek Konstruksi: Kajian Literatur

Penulis melakukan review literatur dan jurnal terhadap risiko konstruksi dan keselamatan kerja di dalam proyek konstruksi, didapatkan bahwa risiko dan ketidakpastian itu selalu ada di dalam proyek konstruksi. Risiko terbesar pada industri kontruksi adalah risiko keuangan yang berasal dari pengguna jasa sebagai risk external non-technical risk dan keselamatan kerja yang berasal dari penyedia jasa sebagai internal non-technical risk menjadi salah satu unsur suatu proyek konstruksi bisa diselesaikan dengan tepat waktu, dikerjakan sesuai dengan biaya yang dianggarkan dan mempunyai kualitas pekerjaan seperti yang diperjanjikan. Studi ini dilakukan di dua puluh negara yang berbeda namun mempunyai hasil yang tidak jauh berbeda. Dengan mengetrapkan manajemen konstruksi dan Keselamatan dan Kesehatan Kerja (K3) dengan proses yang terstruktur, formal dan reaktif merupakan suatu cara untuk mengidentifikasi terjadinya hal yang tidak diinginkan terjadi dan merupakan faktor penentu keberhasilan untuk penerapan sistem manajemen risiko dan keselamatan kerja. review jurnal ini dapat dilihat bahwa identifikasi risiko pada proyek kontsruksi memiliki dampak yang cukup signifikan terhadap mitigasi risiko yang akan terjadi sehingga risiko-risiko yang mungkin akan terjadi dapat diantisipasi.

Internal Audit in ERP Systems Context

Through this paper, the authors wanted to highlight how important and useful are ERP systems for any company that requires internal auditing. ERP - Enterprise Resource Planning systems are intelligent software that can be adapted to the needs of each company allowing the combination of all business processes in a single database. They are also a way of internal control over the data entered and employees. From an internal audit perspective, these systems can be considered an appropriate solution because they provide an opportunity to more effectively manage internal and external audit risks. The main objective of this paper is to demonstrate the satisfaction of internal audit needs with the help of integrated systems. These systems facilitate the operation of data and their security. Another objective was to analyse how much these systems can reduce certain risks. The risks of significant misstatement may be mitigated by these systems, and any operation introduced may be analysed, verified and approved / disapproved. Therefore, a quantitative research was conducted, using the questionnaire as an analysis tool. Based on the answers received, the profile of the respondents was outlined and at the same time a statistical analysis was performed. The results obtained demonstrate that respondents appreciate ERP systems’ utility. They perceive a reduction in financial and operational risk but also an increase in technical risk. Of course, these technical risk issues can be mitigated by the internal audit department's ability to assess and manage any issues that may arise. However, respondents also emphasize the need of training employees in using the system and understanding the data generated by it. Without well-trained employees, performance at the company level, as well as at the internal audit level would not be achieved. It is essential to have training at employees’ level who manage data in an ERP system. This training is also valid for internal auditors who can recommend this system to reduce audit risks.