Integrating Sustainability into Project Risk Management

Abstract

One of the developments that changed today's business environment is the increased concern about the sustainability, or unsustainability, of our society. Silvius and Schipper (2014) identify a growing number of publications that study the impact of sustainability on project management. One of the ‘impact areas' they identify is the identification and management of risk in the project. This chapter discusses the main concepts of sustainability and their implications for project risk management. The main findings are that the integration of the concepts of sustainability imply (1) A broader identification and considering of risks, expanding the orientation on risks to include also environmental and social perspectives and to consider the full life-cycle of the project's deliverable, impact and resources. (2) Inclusion of (potential) stakeholders in a transparent process of project risk management. And (3) Adopting a social, communicative, approach to risk management, as opposed to the calculating, rational approach.