Risk Identification and Assessment in Sustainable Housing Project: A Case of Housing Sector in Pakistan

Abstract

Purpose: The study aims to identify the risk factors that are associated with the housing projects in Pakistan based on their relative importance. Moreover, this study intends to highlight the extreme, high and low risks that are involved in housing projects. Design/Methodology/Approach: The study adopts the quantitative research method and conducted a survey through a five-point Likert scale questionnaire. The study has collected 168 responses from the project managers, contractors, designers and consultants of housing projects in Pakistan. In order to examine the relative importance of the risk, the study has applied the Relative Importance Index (RII) method to analyse the risks. Findings: The results of the study depict that there are five extreme risks, ten high risks and 13 low risks which may contribute harm the sustainability of the housing projects. Moreover, all the critical risk factors have high probability of occurrence and extreme impact on the sustainability of the housing projects in Pakistan. Implications/Originality/Value: The practitioners are recommended to develop such projects that should not damage the ecology of the region in which they are located. Also the land should be determined on the basis of sociological and environmental consideration and not on land value alone.