Sukulpat Khumpaisal - Academia.edu (original) (raw)

Papers by Sukulpat Khumpaisal

TIlls research aims to introduce an innovative risk assessment model to Thailand real estate's in... more TIlls research aims to introduce an innovative risk assessment model to Thailand real estate's industry as well as to investigate the risk perception of Thai practitioners. A theoretical framework that was developed from a review of the extant literature was used in the subsequent stages of research design, data collection and analysis. The extensive literature review revealed that the systematic risk assessment methods were too remote from the existing industry practices and these shall be considered as valid approaches by industry. The theoretical frameworks were established based on the requirements of Social, Technological, Environmental, Economic, and Political (STEEP) factors. These were well rooted in practice and that individual perception toward risk was a key experiential aspect of risk assessment. The research strategy was designed as a two-phase approach. The first phase was a quantitative approach using the questionnaires survey techniques to gather 210 Thai developers' opinions towards risk assessment practices and the perception towards STEEP factors. The resultant data set was analysed with the statistic tests such as Component Analysis (CA), Explorative Factor Analysis (EF A), etc. The EF A test was applied to 66 risk assessment criteria in order to form the risk assessment model. The phase 1 resulted in a tentative model which was explored in the qualitative phase (phase 2) of the study. TIlls phase adopted the interviews with 13 Thai real estate practitioners, the interview transcripts were analysed using the content analysis and manual coding. The details of risk in this industry, and the requirements/features for the ideal risk assessment model were revealed in this phase. These were expanded and synchronised with the model developed from the EF A theorem in the first phase. In order to validate the tentative risk assessment model, a case study approach was implemented with 4 real estate experts, the results insisted that this model was acceptably developed and this could be used in the real business case because of it covered on the major existing risks in this real estate industry. The final outcome of this research is a validated risk assessment model which forms the basis for assessing risks in the real estate projects which is closely aligned to an industry practice and can lead to an incremental improvement of risk assessment in the property industry.

Risks cause crucial adversities to the progression and profits of urban regeneration projects. Th... more Risks cause crucial adversities to the progression and profits of urban regeneration projects. This paper aims to review practitioners' decision-making procedures in assessing the potential risks in urban regeneration projects. We introduce a multi-criteria decision making model, based on Analytic Network Process (ANP) theory. This paper commences with an introduction to the risks involved in urban regeneration projects, followed by an application of ANP as a risk assessment tool. To assess risks in the these projects effectively, assessment criteria are defined based on the Social, Technological, Economic, Environment and Political (STEEP) concerns of practitioners, which are directly involved in the urban regeneration projects. A residential and commercial mixed-use project in Liverpool City Centre has been selected as a case study to demonstrate the effectiveness of ANP. The outcome reveals that ANP is an effective tool to support decision-makers to assess the potential risks in urban regeneration projects. Although this ANP model can be applied in other types of project, the risk assessment criteria should be modified to suit the context of any particular case.

International Journal of the Analytic Hierarchy Process, Dec 31, 2010

The European Integrated Pollution Prevention and Control Bureau produces reference documents on B... more The European Integrated Pollution Prevention and Control Bureau produces reference documents on Best Available Techniques, called BREFs. These documents give technical and descriptive information about the installations that represent a significant pollution potential in Europe. However, they do not provide an assessment of the Best Available Techniques, which is a decision to be made by the competent environmental authority. The present work proposes a decision making process for assessing Best Available Techniques based on the Analytic Network Process. Seven evaluation criteria, grouped into three clusters, have been proposed. The process is applied to a case study and the results are described and analyzed. As a main conclusion, this paper describes a robust and scientific method for a better implementation of the Integrated Pollution Prevention and Control approach.

Journal of Architectural/Planning Research and Studies (JARS), Sep 3, 2018

Journal of Architectural/Planning Research and Studies (JARS), Sep 3, 2018

Risk management in construction projects is considered as an important part of the management pro... more Risk management in construction projects is considered as an important part of the management process. Since risk in construction projects associated with three major principles, which are Time, Cost and Quality. Those risks and uncertainties are caused by performance of workers, material and parts quality, delays in supply of important materials to site, project budget and cost control, or the complexity of project procurement processes, which may threaten the project objectives. This article will emphatically focus on risk, that is caused by the complexity of the construction procurement process. In addition, the appropriate risk identification methods will be also introduced in this article. Suggested methods shall start with setting up a risk profile, avoidance of risks, basic risk assessment and useful risk mitigation actions for project management participants, particularly architects or project managers to understand risks associated in construction procurement process including how to mitigate those risks.

Journal of Architectural/Planning Research and Studies (JARS)

Risk management in construction projects is considered as an important part of the management pro... more Risk management in construction projects is considered as an important part of the management process. Since risk in construction projects associated with three major principles, which are Time, Cost and Quality. Those risks and uncertainties are caused by performance of workers, material and parts quality, delays in supply of important materials to site, project budget and cost control, or the complexity of project procurement processes, which may threaten the project objectives. This article will emphatically focus on risk, that is caused by the complexity of the construction procurement process. In addition, the appropriate risk identification methods will be also introduced in this article. Suggested methods shall start with setting up a risk profile, avoidance of risks, basic risk assessment and useful risk mitigation actions for project management participants, particularly architects or project managers to understand risks associated in construction procurement process includ...

Thammasat Design School, May 25, 2012

Risks cause crucial adversities to the progression and profits of urban regeneration projects. Th... more Risks cause crucial adversities to the progression and profits of urban regeneration projects. This paper aims to review practitioners' decision-making procedures in assessing the potential risks in urban regeneration projects. We introduce a multi-criteria decision making model, based on Analytic Network Process (ANP) theory. This paper commences with an introduction to the risks involved in urban regeneration projects, followed by an application of ANP as a risk assessment tool. To assess risks in the these projects effectively, assessment criteria are defined based on the Social, Technological, Economic, Environment and Political (STEEP) concerns of practitioners, which are directly involved in the urban regeneration projects. A residential and commercial mixed-use project in Liverpool City Centre has been selected as a case study to demonstrate the effectiveness of ANP. The outcome reveals that ANP is an effective tool to support decision-makers to assess the potential risks in urban regeneration projects. Although this ANP model can be applied in other types of project, the risk assessment criteria should be modified to suit the context of any particular case.

International journal trade, economics and finance, Feb 1, 2015

Economic risk plays a critical role in real estate development projects as it directly affects pr... more Economic risk plays a critical role in real estate development projects as it directly affects project's income stream. This paper examines Thai real estate practitioners' perception of economic risks caused by several related factors such as financial or marketing aspects. The quantitative research approach is adopted and the Explorative factor analysis (EFA) has been carried out. It is based on a survey of Thai real estate practitioners, which was conducted in mid-2010 with a response rate of 52.5% (210 out of 400). This paper clusters the degree of economic risks into the appropriate categories by using the EFA technique. It finds that Thai practitioners emphasize on the economic risks caused by variation of construction materials' price more than the others Moreover, this paper underpinned that the economic risks in this industry are mostly involved with macroeconomic, financial/monetary, and marketing factors. Finally, this paper contributes the economic risk assessment model, which was established based on the solid statistical/mathematical framework that appropriate for the real estate industry. Index Terms-Economic risks, explorative factor analysis (EFA), risk assessment, Thailand real estate development industry.

Real estate development sector is vulnerable from risks and their consequences, which are associa... more Real estate development sector is vulnerable from risks and their consequences, which are associated with the uncertain-controlled factors such as Social, Technological, Economic, Environmental and Political (STEEP) elements, which are regularly relevant to decision-making on new development. However, it is found through case studies that practitioners currently do not have proper methods or the systematic risk assessment methods to deal with those risks. This paper aims to introduce an innovative risk assessment methodology for real estate developers to analyse and assess related risks and consequences under higher competitiveness in a changing business environment. To achieve this, the paper puts forward a comprehensive study on STEEP criteria by defining their characteristics and evaluations. Analytic Network Process (ANP) is then adopted as the decision-making model using the STEEP criteria. After establishing this risk assessment models, case studies on projects from UK and Tha...

American Book Review, 2017

This paper presents an investigation of the risk factors that affect to the housing loan’s appro... more This paper presents an investigation of the risk factors that affect to the housing loan’s approval processes in Thailand’s 5 largest commercial banks, with the largest amount of housing loan’ Non Performing Loan (NPL). The data, obtained from 15 selected interviewees from 5 largest Thailand commercial banks, has been summarised, reported, and analysed by the qualitative content analysis technique. The interviewees include Mortgage Sales (Housing loan), Retail Credit Analyst and Credit Risk Analyst. The instruments, derived from both qualitative and quantitative approaches, to assess the borrowers’ credit risk were also formulated in this paper. The results from this study can be used as a benchmark for other Thai financial institutions in order to improve the housing loan’s approval processes.

A novel analysis approach to support real estate developers in making decision to deal with poten... more A novel analysis approach to support real estate developers in making decision to deal with potential risks in each project development stage is introduced in this paper. The analysis model applied in this research is a multi-criteria approach, based on Analytic Network Process (ANP) theory. Risk assessment criteria to accomplish the ANP calculation are defined based on both literature review and related experience, against Social, Technological, Economic, Environmental and Political (STEEP) requirements of the real estate development in order to assess the risks in this business effectively. A case study of a residential and commercial mixed-use project in Liverpool City Centre was used to demonstrate the effectiveness of the ANP model. The result of an initial case study revealed that ANP is an effective tool to support developers in making decision based on risks assessment. It was found through this study that the established ANP model is effective and can be adopted by real est...

International Journal of Business and Economic Affairs, 2018

International Journal of Trade, Economics and Finance, 2015

Economic risk plays a critical role in real estate development projects as it directly affects pr... more Economic risk plays a critical role in real estate development projects as it directly affects project's income stream. This paper examines Thai real estate practitioners' perception of economic risks caused by several related factors such as financial or marketing aspects. The quantitative research approach is adopted and the Explorative factor analysis (EFA) has been carried out. It is based on a survey of Thai real estate practitioners, which was conducted in mid-2010 with a response rate of 52.5% (210 out of 400). This paper clusters the degree of economic risks into the appropriate categories by using the EFA technique. It finds that Thai practitioners emphasize on the economic risks caused by variation of construction materials' price more than the others Moreover, this paper underpinned that the economic risks in this industry are mostly involved with macroeconomic, financial/monetary, and marketing factors. Finally, this paper contributes the economic risk assessment model, which was established based on the solid statistical/mathematical framework that appropriate for the real estate industry. Index Terms-Economic risks, explorative factor analysis (EFA), risk assessment, Thailand real estate development industry.

Abstract: The comprehensive literature of Supply Chain Management (SCM) needs to upgrade the orga... more Abstract: The comprehensive literature of Supply Chain Management (SCM) needs to upgrade the organisational sustainability and the creations of business effectiveness collaborations to obtain profits by the common objectives of Facility Management (FM) are reviewed in this ...

The European Integrated Pollution Prevention and Control Bureau produces reference documents on B... more The European Integrated Pollution Prevention and Control Bureau produces reference documents on Best Available Techniques, called BREFs. These documents give technical and descriptive information about the installations that represent a significant pollution potential in Europe. However, they do not provide an assessment of the Best Available Techniques, which is a decision to be made by the competent environmental authority. The present work proposes a decision making process for assessing Best Available Techniques based on the Analytic Network Process. Seven evaluation criteria, grouped into three clusters, have been proposed. The process is applied to a case study and the results are described and analyzed. As a main conclusion, this paper describes a robust and scientific method for a better implementation of the Integrated Pollution Prevention and Control approach.

Journal of architectural and planning research

ABSTRACT

... Page 5. 5 Table 1 Risks Assessment Criteria for the real estate development Criteria Sub-Crit... more ... Page 5. 5 Table 1 Risks Assessment Criteria for the real estate development Criteria Sub-Criteria Valuation methods Representative references ... (2007) Technological risks Durability Probability of refurbishment requirements during buildings lifecycle (%) Chen (2007) ...

Journal of architectural and planning research

ABSTRACT

TIlls research aims to introduce an innovative risk assessment model to Thailand real estate's in... more TIlls research aims to introduce an innovative risk assessment model to Thailand real estate's industry as well as to investigate the risk perception of Thai practitioners. A theoretical framework that was developed from a review of the extant literature was used in the subsequent stages of research design, data collection and analysis. The extensive literature review revealed that the systematic risk assessment methods were too remote from the existing industry practices and these shall be considered as valid approaches by industry. The theoretical frameworks were established based on the requirements of Social, Technological, Environmental, Economic, and Political (STEEP) factors. These were well rooted in practice and that individual perception toward risk was a key experiential aspect of risk assessment. The research strategy was designed as a two-phase approach. The first phase was a quantitative approach using the questionnaires survey techniques to gather 210 Thai developers' opinions towards risk assessment practices and the perception towards STEEP factors. The resultant data set was analysed with the statistic tests such as Component Analysis (CA), Explorative Factor Analysis (EF A), etc. The EF A test was applied to 66 risk assessment criteria in order to form the risk assessment model. The phase 1 resulted in a tentative model which was explored in the qualitative phase (phase 2) of the study. TIlls phase adopted the interviews with 13 Thai real estate practitioners, the interview transcripts were analysed using the content analysis and manual coding. The details of risk in this industry, and the requirements/features for the ideal risk assessment model were revealed in this phase. These were expanded and synchronised with the model developed from the EF A theorem in the first phase. In order to validate the tentative risk assessment model, a case study approach was implemented with 4 real estate experts, the results insisted that this model was acceptably developed and this could be used in the real business case because of it covered on the major existing risks in this real estate industry. The final outcome of this research is a validated risk assessment model which forms the basis for assessing risks in the real estate projects which is closely aligned to an industry practice and can lead to an incremental improvement of risk assessment in the property industry.

Risks cause crucial adversities to the progression and profits of urban regeneration projects. Th... more Risks cause crucial adversities to the progression and profits of urban regeneration projects. This paper aims to review practitioners' decision-making procedures in assessing the potential risks in urban regeneration projects. We introduce a multi-criteria decision making model, based on Analytic Network Process (ANP) theory. This paper commences with an introduction to the risks involved in urban regeneration projects, followed by an application of ANP as a risk assessment tool. To assess risks in the these projects effectively, assessment criteria are defined based on the Social, Technological, Economic, Environment and Political (STEEP) concerns of practitioners, which are directly involved in the urban regeneration projects. A residential and commercial mixed-use project in Liverpool City Centre has been selected as a case study to demonstrate the effectiveness of ANP. The outcome reveals that ANP is an effective tool to support decision-makers to assess the potential risks in urban regeneration projects. Although this ANP model can be applied in other types of project, the risk assessment criteria should be modified to suit the context of any particular case.

International Journal of the Analytic Hierarchy Process, Dec 31, 2010

The European Integrated Pollution Prevention and Control Bureau produces reference documents on B... more The European Integrated Pollution Prevention and Control Bureau produces reference documents on Best Available Techniques, called BREFs. These documents give technical and descriptive information about the installations that represent a significant pollution potential in Europe. However, they do not provide an assessment of the Best Available Techniques, which is a decision to be made by the competent environmental authority. The present work proposes a decision making process for assessing Best Available Techniques based on the Analytic Network Process. Seven evaluation criteria, grouped into three clusters, have been proposed. The process is applied to a case study and the results are described and analyzed. As a main conclusion, this paper describes a robust and scientific method for a better implementation of the Integrated Pollution Prevention and Control approach.

Journal of Architectural/Planning Research and Studies (JARS), Sep 3, 2018

Journal of Architectural/Planning Research and Studies (JARS), Sep 3, 2018

Risk management in construction projects is considered as an important part of the management pro... more Risk management in construction projects is considered as an important part of the management process. Since risk in construction projects associated with three major principles, which are Time, Cost and Quality. Those risks and uncertainties are caused by performance of workers, material and parts quality, delays in supply of important materials to site, project budget and cost control, or the complexity of project procurement processes, which may threaten the project objectives. This article will emphatically focus on risk, that is caused by the complexity of the construction procurement process. In addition, the appropriate risk identification methods will be also introduced in this article. Suggested methods shall start with setting up a risk profile, avoidance of risks, basic risk assessment and useful risk mitigation actions for project management participants, particularly architects or project managers to understand risks associated in construction procurement process including how to mitigate those risks.

Journal of Architectural/Planning Research and Studies (JARS)

Risk management in construction projects is considered as an important part of the management pro... more Risk management in construction projects is considered as an important part of the management process. Since risk in construction projects associated with three major principles, which are Time, Cost and Quality. Those risks and uncertainties are caused by performance of workers, material and parts quality, delays in supply of important materials to site, project budget and cost control, or the complexity of project procurement processes, which may threaten the project objectives. This article will emphatically focus on risk, that is caused by the complexity of the construction procurement process. In addition, the appropriate risk identification methods will be also introduced in this article. Suggested methods shall start with setting up a risk profile, avoidance of risks, basic risk assessment and useful risk mitigation actions for project management participants, particularly architects or project managers to understand risks associated in construction procurement process includ...

Thammasat Design School, May 25, 2012

Risks cause crucial adversities to the progression and profits of urban regeneration projects. Th... more Risks cause crucial adversities to the progression and profits of urban regeneration projects. This paper aims to review practitioners' decision-making procedures in assessing the potential risks in urban regeneration projects. We introduce a multi-criteria decision making model, based on Analytic Network Process (ANP) theory. This paper commences with an introduction to the risks involved in urban regeneration projects, followed by an application of ANP as a risk assessment tool. To assess risks in the these projects effectively, assessment criteria are defined based on the Social, Technological, Economic, Environment and Political (STEEP) concerns of practitioners, which are directly involved in the urban regeneration projects. A residential and commercial mixed-use project in Liverpool City Centre has been selected as a case study to demonstrate the effectiveness of ANP. The outcome reveals that ANP is an effective tool to support decision-makers to assess the potential risks in urban regeneration projects. Although this ANP model can be applied in other types of project, the risk assessment criteria should be modified to suit the context of any particular case.

International journal trade, economics and finance, Feb 1, 2015

Economic risk plays a critical role in real estate development projects as it directly affects pr... more Economic risk plays a critical role in real estate development projects as it directly affects project's income stream. This paper examines Thai real estate practitioners' perception of economic risks caused by several related factors such as financial or marketing aspects. The quantitative research approach is adopted and the Explorative factor analysis (EFA) has been carried out. It is based on a survey of Thai real estate practitioners, which was conducted in mid-2010 with a response rate of 52.5% (210 out of 400). This paper clusters the degree of economic risks into the appropriate categories by using the EFA technique. It finds that Thai practitioners emphasize on the economic risks caused by variation of construction materials' price more than the others Moreover, this paper underpinned that the economic risks in this industry are mostly involved with macroeconomic, financial/monetary, and marketing factors. Finally, this paper contributes the economic risk assessment model, which was established based on the solid statistical/mathematical framework that appropriate for the real estate industry. Index Terms-Economic risks, explorative factor analysis (EFA), risk assessment, Thailand real estate development industry.

Real estate development sector is vulnerable from risks and their consequences, which are associa... more Real estate development sector is vulnerable from risks and their consequences, which are associated with the uncertain-controlled factors such as Social, Technological, Economic, Environmental and Political (STEEP) elements, which are regularly relevant to decision-making on new development. However, it is found through case studies that practitioners currently do not have proper methods or the systematic risk assessment methods to deal with those risks. This paper aims to introduce an innovative risk assessment methodology for real estate developers to analyse and assess related risks and consequences under higher competitiveness in a changing business environment. To achieve this, the paper puts forward a comprehensive study on STEEP criteria by defining their characteristics and evaluations. Analytic Network Process (ANP) is then adopted as the decision-making model using the STEEP criteria. After establishing this risk assessment models, case studies on projects from UK and Tha...

American Book Review, 2017

This paper presents an investigation of the risk factors that affect to the housing loan’s appro... more This paper presents an investigation of the risk factors that affect to the housing loan’s approval processes in Thailand’s 5 largest commercial banks, with the largest amount of housing loan’ Non Performing Loan (NPL). The data, obtained from 15 selected interviewees from 5 largest Thailand commercial banks, has been summarised, reported, and analysed by the qualitative content analysis technique. The interviewees include Mortgage Sales (Housing loan), Retail Credit Analyst and Credit Risk Analyst. The instruments, derived from both qualitative and quantitative approaches, to assess the borrowers’ credit risk were also formulated in this paper. The results from this study can be used as a benchmark for other Thai financial institutions in order to improve the housing loan’s approval processes.

A novel analysis approach to support real estate developers in making decision to deal with poten... more A novel analysis approach to support real estate developers in making decision to deal with potential risks in each project development stage is introduced in this paper. The analysis model applied in this research is a multi-criteria approach, based on Analytic Network Process (ANP) theory. Risk assessment criteria to accomplish the ANP calculation are defined based on both literature review and related experience, against Social, Technological, Economic, Environmental and Political (STEEP) requirements of the real estate development in order to assess the risks in this business effectively. A case study of a residential and commercial mixed-use project in Liverpool City Centre was used to demonstrate the effectiveness of the ANP model. The result of an initial case study revealed that ANP is an effective tool to support developers in making decision based on risks assessment. It was found through this study that the established ANP model is effective and can be adopted by real est...

International Journal of Business and Economic Affairs, 2018

International Journal of Trade, Economics and Finance, 2015

Economic risk plays a critical role in real estate development projects as it directly affects pr... more Economic risk plays a critical role in real estate development projects as it directly affects project's income stream. This paper examines Thai real estate practitioners' perception of economic risks caused by several related factors such as financial or marketing aspects. The quantitative research approach is adopted and the Explorative factor analysis (EFA) has been carried out. It is based on a survey of Thai real estate practitioners, which was conducted in mid-2010 with a response rate of 52.5% (210 out of 400). This paper clusters the degree of economic risks into the appropriate categories by using the EFA technique. It finds that Thai practitioners emphasize on the economic risks caused by variation of construction materials' price more than the others Moreover, this paper underpinned that the economic risks in this industry are mostly involved with macroeconomic, financial/monetary, and marketing factors. Finally, this paper contributes the economic risk assessment model, which was established based on the solid statistical/mathematical framework that appropriate for the real estate industry. Index Terms-Economic risks, explorative factor analysis (EFA), risk assessment, Thailand real estate development industry.

Abstract: The comprehensive literature of Supply Chain Management (SCM) needs to upgrade the orga... more Abstract: The comprehensive literature of Supply Chain Management (SCM) needs to upgrade the organisational sustainability and the creations of business effectiveness collaborations to obtain profits by the common objectives of Facility Management (FM) are reviewed in this ...

The European Integrated Pollution Prevention and Control Bureau produces reference documents on B... more The European Integrated Pollution Prevention and Control Bureau produces reference documents on Best Available Techniques, called BREFs. These documents give technical and descriptive information about the installations that represent a significant pollution potential in Europe. However, they do not provide an assessment of the Best Available Techniques, which is a decision to be made by the competent environmental authority. The present work proposes a decision making process for assessing Best Available Techniques based on the Analytic Network Process. Seven evaluation criteria, grouped into three clusters, have been proposed. The process is applied to a case study and the results are described and analyzed. As a main conclusion, this paper describes a robust and scientific method for a better implementation of the Integrated Pollution Prevention and Control approach.

Journal of architectural and planning research

ABSTRACT

... Page 5. 5 Table 1 Risks Assessment Criteria for the real estate development Criteria Sub-Crit... more ... Page 5. 5 Table 1 Risks Assessment Criteria for the real estate development Criteria Sub-Criteria Valuation methods Representative references ... (2007) Technological risks Durability Probability of refurbishment requirements during buildings lifecycle (%) Chen (2007) ...

Journal of architectural and planning research

ABSTRACT