Prioritizing risks in sustainable construction projects using a risk matrix-based Monte Carlo Simulation approach

dc.contributor.author Qazi, Abroon
dc.contributor.author Shamayleh, Abdulrahim
dc.contributor.author El-Sayegh, Sameh
dc.contributor.author Formaneck, Steven
dc.date.accessioned 2021-01-09T17:13:37Z
dc.date.available 2021-01-09T17:13:37Z
dc.date.copyright © 2020
dc.date.issued 2021-02
dc.description This article is not available at CUD collection. The version of scholarly record of this article is published in Sustainable Cities and Society (2021), available online at: https://doi.org/10.1016/j.scs.2020.102576 en_US
dc.description.abstract Sustainability-related risks and risk management frameworks have been introduced in the literature to help project managers identify and manage critical risks influencing project sustainability. Theoretically grounded in the framework of Monte Carlo Simulation, this paper introduces and operationalizes a new process for prioritizing sustainability-related project risks using risk matrix data. Sustainability-related construction project risks have never been assessed relative to different confidence levels across the risk matrix-based exposure zones. The application of the proposed process on construction projects completed in the United Arab Emirates reveals that the conventional risk prioritization scheme undermines the importance of tail risks (unexpected events), whereas such risks are captured in the proposed process. In contrast to the most critical risks identified using the conventional scheme such as shortage of client's funding, insufficient or incorrect sustainable design operation, and design changes, the proposed process prioritizes risks such as poor productivity of labor and equipment in sustainable construction, unreasonable tight schedule for sustainable construction, and poor scope definition of sustainable construction. The proposed process is generalizable to prioritizing risks influencing sustainability in international construction projects and beneficial for enhancing project sustainability as there is a huge uncertainty associated with sustainability-related risks. © 2020 The Author(s) en_US
dc.description.sponsorship American University of Sharjah en_US
dc.identifier.citation Qazi, A., Shamayleh, A., El-Sayegh, S., & Formaneck, S. (2020). Prioritizing risks in sustainable construction projects using a risk matrix-based Monte Carlo Simulation approach. Sustainable Cities and Society, 65. https://doi.org/10.1016/j.scs.2020.102576 en_US
dc.identifier.issn 22106707
dc.identifier.uri https://doi.org/10.1016/j.scs.2020.102576
dc.identifier.uri http://hdl.handle.net/20.500.12519/312
dc.language.iso en en_US
dc.publisher Elsevier Ltd en_US
dc.relation Authors Affiliations : Qazi, A., School of Business Administration, American University of Sharjah, Sharjah, United Arab Emirates; Shamayleh, A., College of Engineering, American University of Sharjah, Sharjah, United Arab Emirates; El-Sayegh, S., College of Engineering, American University of Sharjah, Sharjah, United Arab Emirates; Formaneck, S., Faculty of Management, Canadian University Dubai, Dubai, United Arab Emirates
dc.relation.ispartofseries Sustainable Cities and Society;Volume 65
dc.rights Creative Commons Attribution 4.0 International (CC BY 4.0) License
dc.rights.holder Copyright : © 2020 The Author(s)
dc.rights.uri https://creativecommons.org/licenses/by/4.0/
dc.subject Construction projects en_US
dc.subject Monte Carlo Simulation en_US
dc.subject Risk management en_US
dc.subject Risk matrix en_US
dc.subject Sustainability en_US
dc.subject Tail risks en_US
dc.subject Construction equipment en_US
dc.subject Monte Carlo methods en_US
dc.subject Sustainable development en_US
dc.subject Construction project risk en_US
dc.subject Conventional schemes en_US
dc.subject International construction projects en_US
dc.subject Project sustainability en_US
dc.subject Risk management framework en_US
dc.subject Sustainable construction en_US
dc.subject United Arab Emirates en_US
dc.subject Risk assessment en_US
dc.title Prioritizing risks in sustainable construction projects using a risk matrix-based Monte Carlo Simulation approach en_US
dc.type Article en_US
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