Yongtae Park

Large engineering project risk management using a Bayesian belief network

This paper presents a scheme for large engineering project risk management using a Bayesian belief network and applies it to the Korean shipbuilding industry. Twenty-six different risks were deduced from expert interviews and a literature review. A survey analysis was conducted on 252 experts from 11 major Korean shipbuilding companies in April 2007. The overall major risks were design change, design manpower, and raw material supply as internal risks, and exchange rate as external risk in both large-scale and medium-sized shipbuilding companies. Differences of project performance risks between large-scale and medium-sized shipbuilding companies were identified. Exceeding time schedule and specification discontent were more important to large-scale shipbuilding companies, while exceeding budget and exceeding time schedule were more important to medium-sized shipbuilding companies. The change of project performance risks was measured by risk reduction activities of quality management, and strikes at headquarters and subcontractors, in both large-scale and medium-sized shipbuilding companies. The research results should be valuable in enabling industrial participants to manage their large engineering project risks and in extending our understanding of Korean shipbuilding risks.

Customer satisfaction factors of mobile commerce in Korea

Purpose – The purpose of the paper is to distinguish features of m‐commerce from those of e‐commerce and identify factors to influence customer satisfaction (m‐satisfaction) and loyalty (m‐loyalty) in m‐commerce by empirically‐based case study.Design/methodology/approach – First, based on previous literature, the paper builds sets of customer satisfaction factors for both e‐commerce and m‐commerce. Second, features of m‐commerce are identified by comparing it with current e‐commerce through decision tree (DT). Third, with the derived factors from DT, significant factors and relationships among the factors, m‐satisfaction and m‐loyalty are examined by m‐satisfaction model employing structural equation model.Findings – The paper finds that m‐commerce is partially similar in factors like “transaction process” and “customization” which lead customer satisfaction after connecting an m‐commerce site, but it has unique aspects of “content reliability”, “availability”, and “perceived price level of mobile Interne...

A time-based approach to effective recommender systems using implicit feedback

Recommender systems provide personalized recommendations on products or services to customers. Collaborative filtering is a widely used method of providing recommendations using explicit ratings on items from users. In some e-commerce environments, however, it is difficult to collect explicit feedback data; only implicit feedback is available. In this paper, we present a method of building an effective collaborative filtering-based recommender system for an e-commerce environment without explicit feedback data. Our method constructs pseudo rating data from the implicit feedback data. When building the pseudo rating matrix, we incorporate temporal information such as the users purchase time and the items launch time in order to increase recommendation accuracy. Based on this method, we built both user-based and item-based collaborative filtering-based recommender systems for character images (wallpaper) in a mobile e-commerce environment and conducted a variety of experiments. Empirical results show our time-incorporated recommender system is significantly more accurate than a pure collaborative filtering system.

Development of New Technology Forecasting Algorithm: Hybrid Approach for Morphology Analysis and Conjoint Analysis of Patent Information

Despite being a strong stimulus for the invention of new alternatives, morphology analysis (MA) suffers the limitations of being a nonquantitative, vague, and static methodology. As a consequence, the MA outcomes typically do not provide practical technology opportunities. This paper, therefore, proposes a new hybrid approach that enhances the performance of MA by combining it with conjoint analysis (CA) and citation analysis of patent information. First, keywords are extracted from patent documents using text mining, and the morphology of existing patents is identified by these keywords. Alternatives for new technology development from among the emerging technologies are presented by combining the valuable levels of each attribute in a morphology matrix predefined by domain experts. Then, configurations of new technology are suggested in order of priority using CA, and the technological feasibility of each new configuration is subsequently investigated. The technological competitiveness of a company can be analyzed by a newly suggested index, ldquotechnology share,rdquo which is analogous to the concept of market share in traditional CA. The proposed MA-CA hybrid process is illustrated with a case example of patent information from the thin film transistor-liquid crystal display (TFT-LCD) patent database.

Using Patent Information for Designing New Product and Technology: Keyword Based Technology Roadmapping

With the rapid change in markets and technologies, it is becoming essential for firms to develop new products constantly. This can most successfully be achieved by using technology roadmaps (TRMs), which are effective tools for connecting product and technology planning. However, TRMs generally tend to overstate the qualitative and expert-dependent knowledge rather than incorporating quantitative and objective information. This paper proposes a new approach where patent data are used in a quantitative methodology to support reliable decision-making in roadmapping processes. In this study, text-mining techniques were utilized to extract the relevant information on which portfolio, co-word, and network analyses were carried out. The results were three types of product-technology maps that can be applied to specific roadmapping steps. The suggested approach is expected to yield useful information about roadmapping, and help improve the overall effectiveness and quality of the technique.

An international comparison of R&D efficiency: DEA approach

Summary A prerequisite for making R&D more productive is to be able to measure its productivity. Most of the previous studies on this topic have attempted to measure R&D productivity at the firm or industry levels. In this study, however, R&D productivity is measured at the national level to provide R&D policy implications, particularly for Asian countries. Contrary to the previous studies where total factor productivity was adopted, this study employs the data envelopment analysis (DEA) approach to measure R&D productivity. DEA is a multi‐factor productivity analysis model for measuring the relative efficiency of each Decision Making Unit (DMU). In addition to the basic DEA model that includes all inputs and outputs, five additional models are constructed by combining single input with all outputs and single output with all inputs in order to measure specialized R&D efficiency. In this study, the twenty‐seven countries are classified into four clusters based on the output‐specialized R&D efficiency: inventors, merchandisers, academicians, and duds. Then, the characteristics of the Asian countries with respect to R&D efficiency are identified. It is found that Singapore ranks high in total efficiency, and Japan in patent‐oriented efficiency. Meanwhile, China, Korea, and Taiwanare found to be relatively inefficient in R&D. We expect that the findings from this study will be able to provide directions for R&D policy‐making of the Asian countries.

A new method for technology valuation in monetary value: procedure and application

Recently, with the emergence of technology-intensive venturing business and the advent of knowledge-based economy, social demands for technology valuation have increased. However, technology valuation in nature is an intractable task and existing methods for technology valuation are subject to drawbacks and limitations. The main objective of this research is to propose a new technology valuation method that generates monetary value, rather than score or index, based on the structural relationship between technology factors and market factors. The overall framework and detailed procedure of the proposed method are presented and a couple of exemplary cases are adopted to illustrate the practical application.

Review-based measurement of customer satisfaction in mobile service: Sentiment analysis and VIKOR approach

With the rapid growth and dissemination of mobile services, enhancement of customer satisfaction has emerged as a core issue. Customer reviews are recognized as fruitful information sources for monitoring and enhancing customer satisfaction levels, particularly as they convey the real voices of actual customers expressing relatively unambiguous opinions. As a methodological means of customer review analysis, sentiment analysis has come to the fore. Although several sentiment analysis approaches have proposed extraction of the emotional information from customer reviews, however, a lacuna remains as to how to effectively analyze customer reviews for the purpose of monitoring customer satisfaction with mobile services. In response, the present study developed a new framework for measurement of customer satisfaction for mobile services by combining VIKOR (in Serbian: ViseKriterijumsa Optimizacija I Kompromisno Resenje) and sentiment analysis. With VIKOR, which is a compromise ranking method of the multicriteria decision making (MCDM) approach, customer satisfaction for mobile services can be accurately measured by a sentiment-analysis scheme that simultaneously considers maximum group utility and individual regret. The suggested framework consists mainly of two stages: data collection and preprocessing, and measurement of customer satisfaction. In the first, data collection and preprocessing stage, text mining is utilized to compile customer-review-based dictionaries of attributes and sentiment words. Then, using sentiment analysis, sentiment scores for attributes are calculated for each mobile service. In the second stage, levels of customer satisfaction are measured using VIKOR. For the purpose of illustration, an empirical case study was conducted on customer reviews of mobile application services. We believe that the proposed customer-review-based approach not only saves time and effort in measuring customer satisfaction, but also captures the real voices of customers.

Selection of technology acquisition mode using the analytic network process

Selecting the appropriate acquisition mode for a required technology, is one of the critical strategic decisions in formulating a technology strategy. Although a number of factors were found to be influential in the choice of technology acquisition mode, it still remains a void in the literature how to make a strategic decision, based on a huge set of those factors with the help of a systematic approach. This study deals with the selection of technology acquisition mode as a multiple criteria decision making (MCDM) problem. The proposed solution to the problem in this study, is the analytic network process (ANP) approach. Since the ANP is a MCDM method that can accommodate interdependency among decision attributes, it is capable of providing priorities of alternatives with consideration of interrelationships among strategic factors. The 21 influential factors identified from the empirical studies are included as sub-criteria in the ANP model, and they are grouped into five criteria: capability, strategy, technology, market, and environment. The final decision can be made based on the resulting priorities of the alternative acquisition modes. The proposed approach is expected to effectively aid decision making on which mode is adopted for acquisition of required technologies. A case of a software company is presented for the illustration of the proposed approach.

Development of an integrated product‐service roadmap with QFD

Purpose – The purpose of this paper is to provide a concrete integrated roadmap structure and a supporting tool for efficient roadmapping, to enhance interdisciplinary research on product‐service.Design/methodology/approach – The paper first clarifies definitions based on literature review. Next, the integrated roadmap structure is designed by overcoming limitations of the existing product‐service roadmaps. Lastly, a modified quality function deployment technique is developed to be used as a means for the integration process and applied to the mobile communications industry for the case study.Findings – The suggested roadmap and roadmapping process have potential advantages that can help strategic planning and management of product‐service.Research limitations/implications – There are issues related to complexity of the suggested technique and completeness of the case study.Practical implications – The suggested approach stimulates communication and knowledge sharing between manufacturers and service prov...