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Published in:
2018 | OriginalPaper | Chapter
61. Evaluating the Critical Risk Factors of Reconstruction Urban Renewal Projects: The Developer’s Perspective in China
Authors : W. D. Wu, G. W. Liu, Z. H. Cai, S. N. Zheng
Published in: Proceedings of the 21st International Symposium on Advancement of Construction Management and Real Estate
Publisher: Springer Singapore
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Abstract
The reconstruction urban renewal projects has been confronted with the problems such as social conflict and half-way project. If these problems cannot be addressed properly, not only will the developer suffer a great economic loss, but it may also threat the safety and stability of society. In order to manage project risks more properly, based on the literature review and experts interview, this paper identified 29 potential risk factors and adopted questionnaire survey and factor analysis to extract 6 clusters and 22 critical factors altogether. The research indicated that the critical risk factors of reconstructing urban renewal projects can be reflected by 6 clusters, among which project management risk and social and policy risk, weighting over 40%, were identified as the most critical risk factors. In general, the developer can boost the possibility of project success by emphasizing the control of project management risk and social and policy risk.