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Development of Model to Predict Natural Disaster-Induced Financial Losses for Construction Projects Using Deep Learning Techniques

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Alternative Title
Development of Model to Predict Natural Disaster-Induced Financial Losses for Construction Projects Using Deep Learning Techniques
Abstract
This study goals to develop a model for predicting financial loss at construction sites using a deep learning algorithm to reduce and prevent the risk of financial loss at construction sites. Lately, as the construction of high-rise buildings and complex buildings increases and the scale of construction sites surges, the severity and frequency of accidents occurring at construction sites are swelling, and financial losses are also snowballing. Singularly, as natural disasters rise and construction projects in urban areas increase, the risk of financial loss for construction sites is mounting. Thus, a financial loss prediction model is desired to mitigate and manage the risk of such financial loss for maintainable and effective construction project management. This study reflects the financial loss incurred at the actual construction sites by collecting claim payout data from a major South Korean insurance company. A deep learning algorithm was presented in order to develop an objective and scientific prediction model. The results and framework of this study provide critical guidance on financial loss management necessary for sustainable and successful construction project management and can be used as a reference for various other construction project management studies.
Author(s)
김지명배준서손승현손기영염상국
Issued Date
2021
Type
Article
Keyword
loss prediction modelconstruction project managementconstruction sitedeep learning algorithmdeep neural network
DOI
10.3390/su13095304
URI
https://oak.ulsan.ac.kr/handle/2021.oak/8791
https://ulsan-primo.hosted.exlibrisgroup.com/primo-explore/fulldisplay?docid=TN_cdi_doaj_primary_oai_doaj_org_article_d34740ec01654843a33d19f9616de576&context=PC&vid=ULSAN&lang=ko_KR&search_scope=default_scope&adaptor=primo_central_multiple_fe&tab=default_tab&query=any,contains,Development%20of%20Model%20to%20Predict%20Natural%20Disaster-Induced%20Financial%20Losses%20for%20Construction%20Projects%20Using%20Deep%20Learning%20Techniques&offset=0&pcAvailability=true
Publisher
SUSTAINABILITY
Location
스위스
Language
영어
ISSN
2071-1050
Citation Volume
13
Citation Number
9
Citation Start Page
5304
Citation End Page
5304
Appears in Collections:
Engineering > Architectural Engineering
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