Keywords
Project risk management
Risk mitigation
Sustainable Dongtan
Submitted : 2024-05-20
Accepted : 2024-06-04
Published : 2024-06-19
Abstract
Dongtan is set to be developed as a sustainable urban-rural integration, aiming to attract a wide range of commercial and leisure investments. The Shanghai Industrial Investment Corporation (SIIC), the largest international investment group owned by the Shanghai municipal government, is leading the Dongtan project in partnership with Arup. The project’s risks are categorized into eight major groups: (1) Force majeure, (2) people-related risks, (3) financial and economic risks, (4) political and country risks, (5) environmental risks, (6) completion-related risks, (7) design-related risks, and (8) technology risks. Among these, political risk is particularly notable for its high probability and significant impact. Effective project risk management is essential to foresee and address uncertainties that could jeopardize the project's objectives and timelines. Appropriate strategies must be implemented to manage and mitigate these risks.
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