Risk analysis of affecting costs implementation of investment projects on sustainable development

Abstract

Although there is ample evidence that sustainable building practices bring many environmental, economic and social benefits. But many construction practitioners did not support the implementation of Green Building projects because the initial investment cost is higher when compared with the practice with traditional construction. Therefore, risk factors that increase costs that are believed to be important barriers to the practice of “green” projects must be identified. This study contributes to the identification, analysis and assessment of risk factors affecting the cost of implementing construction investment projects towards sustainable development. If not well controlled, it can over budget, incur costs and reduce profits and project efficiency. A study was conducted with leading experts in the field. Based on the results of data analysis of 172 survey panels along with direct interviews with 10 experts, 31 factors have been identified, classified into 6 groups of factors contributing to the cost difference.Including:"Design",“GreenBuilding Fee”,“Materials”, “Environment – Society”, “Project Management” and “Legal – Contract”. Research results show that in order to achieve sustainable development, in addition to the construction cost components that directly affect the total project cost, such as complex design, poor quality green materials, management process, etc. Inefficient project and project construction, the additional tasks of "Green Building Fee" such as expert consultation fee, registration fee for green standard certification, insurance fee also affect the cost of the project. If not well managed right from the design concept to construction, handover and operation of the project.