Framework for managing uncertainty in property projects

Isabelle Reymen, Geert P.M.R. Dewulf, Sjoerd B. Blokpoel

Research output: Contribution to journalArticleAcademicpeer-review

5 Citations (Scopus)

Abstract

A primary task of property development (or real estate development, RED) is making assessments and managing risks and uncertainties. Property managers cope with a wide range of uncertainties, particularly in the early project phases. Although the existing literature addresses the management of calculated risks, the management of uncertainties is underexposed. A framework and method are presented for uncertainty management, both of which focus on the early phases of complex RED projects. To develop this method, a design method for the development of consumer-based software (SCRUM) is adapted. The traditional uncertainty management in property development was compared with the SCRUM approach. SCRUM is found to be a highly useful tool for uncertainty management in real estate, but it requires adjustment to the specific context of property. An adjusted method 'RESCRUM' was developed and a first test of its accuracy and usefulness in practice is presented.
Original languageUndefined
Pages (from-to)580-592
Number of pages13
JournalBuilding research and information
Volume36
Issue number6
DOIs
Publication statusPublished - 2008

Keywords

  • Risk Management
  • Design Process
  • property development
  • Collaboration
  • process approach
  • IR-73543
  • Project management
  • METIS-254779
  • Uncertainty management

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