Zhao, X; Hwang, B G and See, Y L (2015) Green retrofit projects: Risk assessment and mitigation. In: Raiden, A and Aboagye-Nimo, E (eds.) Proceedings of 31st Annual ARCOM Conference, 7-9 September 2015, Lincoln, UK.
Abstract
The Singapore building industry has been experiencing a trend of going green and the government has set up a target to have at least 80% of buildings being green by 2030. To achieve this target, initiatives have been steered towards retrofitting existing buildings to green buildings. This study aims to assess the risks associated with green retrofit projects in Singapore. To achieve the objective, 20 risks were identified from a literature review. In addition, a questionnaire survey was performed with 30 professionals experienced in green retrofits. In the risk assessment, this study adopted the index of risk criticality (RC), which is the product of likelihood of occurrence (LO) and magnitude of impact (MI). In terms of RC values, 'post-retrofit tenants' cooperation risk', 'regulatory risk', 'market risk', 'financial risk', and 'pre-retrofit tenants' cooperation risk' were the top-five risks. Additionally, comparisons were made between traditional and green retrofit buildings. 17 and 19 risks received significantly higher LO and MI values in green retrofits than those in traditional retrofits, respectively, which contributed to the significant differences in RC values of 19 risks between the two groups of retrofits. These results also confirmed the necessity of risk management in green retrofit projects. Furthermore, 28 mitigation measures were collected and received agreement from the respondents. This study contributes to knowledge by providing an understanding of the risks in green retrofit projects in Singapore for both practitioners and researchers. Practitioners can customize their own list of critical risks in green retrofit projects based on the risk identification in this study.
| Item Type: | Conference Paper (Paper) |
|---|---|
| Uncontrolled Keywords: | green building; retrofit; risk criticality; mitigation; Singapore |
| Index terms: | cooperation, retrofitting, building industry, risk assessment, practitioner, mitigation, risk management, questionnaire, green building, tenant, literature review, risk identification, survey, Singapore, green retrofit |
| Subjects: | psychology, data analysis and analytics, data collection methods, risk assessment, practitioner, industry analysis, design practice, renovation and retrofit, energy efficiency, Geography, financial risk |
| Topics: | Design Practice, Organizational Design, Engineering Principles, Research Practice, Geographical Context, Cost Management, Risk Management, Roles and Professions |
| Descriptive scope: | 4 PCEA |
N.B. Descriptive scope is a count of how many of the five facets of empirical research are indicated by the words used in title, abstract and keywords. It is not intended as a judgement on the research; merely a count of the kind of word we would expect to indicate Phenomenon, Concepts, Theoretical framing, Empirical techniques, Analytical techniques. If all five are present, then a code of “5 PCTEA” will indicate this. If you feel the coding for this record is questionable, we welcome discussion around the terms we matched or the way we categorized them. The facet you would expect may not be coded, or a facet may be coded inappropriately. This can also bear on a larger question, of which facets should be treated as defining in construction management research. Please get in touch, and we will look at it. More details here