Chapter 13 - Risk Assessment and Mitigation Measures for Green Construction Projects

Abstract

The risks associated with green construction projects are assessed in this chapter. Because fuzzy set theory can handle the problems relating to ambiguous, subjective and imprecise judgments that are inevitably involved in risk assessment, it was employed to assist in developing the risk assessment model. Categorizing 28 risk factors into 11 groups, a questionnaire was developed and disseminated to project managers in Singapore and received 31 valid responses. Using the proposed risk assessment model and the data from the survey, the likelihoods of occurrence, magnitudes of impact, and risk criticalities of the risk factors, groups and the overall risk were obtained. The results of this chapter indicate that “inaccurate cost estimation,” “delay in issuance of documents,” and “unclear detailed design or specifications” are the top three critical risk factors in green construction projects. At the risk group level, “cost overrun risk,” “client-related risk,” and “procedure complexity” are the top three. In addition, the overall risk criticality calculated by the assessment model was high, indicating that risk management is still necessary for green construction in Singapore.