Reymen, I M M J; Dewulf, G P M R and Blokpoel, S B (2008) Framework for managing uncertainty in property projects. Building Research & Information, 36(6), pp. 580-592. ISSN 0961-3218
Abstract
A primary task of property development (or real estate development, RED) is making assessments and managing risks and uncertainties. Property managers cope with a wide range of uncertainties, particularly in the early project phases. Although the existing literature addresses the management of calculated risks, the management of uncertainties is underexposed. A framework and method are presented for uncertainty management, both of which focus on the early phases of complex RED projects. To develop this method, a design method for the development of consumer-based software (SCRUM) is adapted. The traditional uncertainty management in property development was compared with the SCRUM approach. SCRUM is found to be a highly useful tool for uncertainty management in real estate, but it requires adjustment to the specific context of property. An adjusted method 'RESCRUM' was developed and a first test of its accuracy and usefulness in practice is presented.
| Item Type: | Article |
|---|---|
| Uncontrolled Keywords: | collaboration; design process; process approach; project management; property development; risk management; uncertainty management |
| Index terms: | accuracy, property development, design process, manager, collaboration, project management, real estate, risk management, uncertainty management, real estate development, design method |
| Subjects: | practitioner, risk assessment, economic development, management, project management theory and practice, design methods, real estate economics, professional development |
| Topics: | Roles and Professions, Urban Studies, Organizational Design, Risk Management, Design Practice, Information Management, Project Management |
| Descriptive scope: | 2 PC |
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