Incorporating sustainability in risk assessment of construction projects

Date

2017-11-27

Author

Dikmen Toker, İrem
Birgönül, Mustafa Talat

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There are standard procedures proposed for risk management (RM) such as “ISO 31000:2009 Risk Management Principles and Guidelines” that provides principles, framework and a process for managing risk. However, RM is still among the most popular research topics in project management domain as there is a lack of consensus on the definition of risk as well as the contextual factors affecting its level. Many authors argue that although complexity, vulnerability, uncertainty, risk and resilience are concepts of growing interest, there is a lack of structured synthesis of these concepts and their relationships. More research is needed to understand risk‐related phenomena and factors. In this paper, we will use the term “risk‐ related factors” to denote all project and environment related factors affecting the probability of occurrence and impact of risks (such as sources of vulnerability, complexity and resilience). Sustainability is also integral to project risk management as a risk‐related factor as well as a source, an objective and a perspective. In this paper, we will review risk assessment and sustainability studies in the project management literature and discuss how risk assessment can be improved by better understanding risk‐related factors and incorporating sustainability into risk models. A

Subject Keywords

Sustainability, Risk, Risk assessment, Construction

URI

https://hdl.handle.net/11511/87649
https://www.asu.edu.bh/wp-content/uploads/2019/01/ASU-ICSF-2017-Proceedings.pdf

Conference Name

International Conference on Sustainable Futures ‐ ICSF 2017

Collections

Department of Civil Engineering, Conference / Seminar

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Citation Formats

İ. Dikmen Toker and M. T. Birgönül, “Incorporating sustainability in risk assessment of construction projects,” Kingdom of Bahrain, 2017, p. 123, Accessed: 00, 2021. [Online]. Available: https://hdl.handle.net/11511/87649.