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Risk management in a large-scale new railway transport system project : Evaluation of Korean high speed railway experience

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  • Risk management in a large-scale new railway transport system project
  • Suh, Sunduck D.
  • International Association of Traffic and Safety Sciences


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Title Risk management in a large-scale new railway transport system project
Similar Titles
Sub Title

Evaluation of Korean high speed railway experience

Material Type Articles
Author(English)

Suh, Sunduck D.

Publisher

[Tokyo]:International Association of Traffic and Safety Sciences

Date 2000-06
Journal Title; Vol./Issue IATSS Research:vol. 24(no. 2)
Pages 11
Subject Country South Korea(Asia and Pacific)
Language English
File Type Link
Subject Territorial Development < Transport/Logistics
Holding IATSS

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.