Managing Risk in Green Building Projects: Towards a dedicated framework

Abstract

Formal application of project risk management (PRM) in green building projects is still an emergent part of project management. PRM is concerned with the process of recognizing, analyzing and responding to risky events. The basic objective of this thesis is to provide a conceptual PRM framework that increases the probability of success in such projects by minimizing the unexpected events. It interprets the related literature and catches outlook from relevant green experts. The study exposes some appropriate elements needed for structuring the PRM framework and suggests some mitigation actions for high ranked risks. The case study is conducted to practically validate the proposed framework. Effective risk identification followed by analysis validate the efficiency of proposed PRM framework for green building projects. This study will contribute to the literature and practice by giving a reasonable strategy for employing PRM framework, with the end goal to keep organizations competitive within the business environment.