Stakeholders’ Risk Perception: A Perspective for Proactive Risk Management in Residential Building Energy Retrofits in China

Abstract

The implementation of energy retrofit of residential buildings faces many risks around the world, especially in China, leading to low retrofit progress. Stakeholders’ proactive risk management is the key to the smooth implementation of retrofit projects but is normally affected by risk perception. Perceived risks instead of real risks are the motivators of their proactive behaviours. This paper aims to understand and address the present risk perception of stakeholders in order to drive effective proactive risk mitigation practices. Based on a risk list identified through a literature review and interviews, a questionnaire survey was then made to analyse and compare different stakeholders’ perceptions of each risk by measuring the levels of their concern about risks. It is validated that all the stakeholder groups tend to mitigate risks perceived highly proactively. Proactive risk management of risk-source-related stakeholders deserves more attention and responsibility-sharing with transaction costs (TCs) considerations contribute to the enhancement of risk perception. More responsibilities of construction quality and maintenance is taken by the government and contractors should be clarified, and the government should also be responsible for assisting design work. Effective information is beneficial to the decrease in homeowners’ risk perception that can motivate their initiative of cooperation.

Modeling for external stakeholder risk assessment of project portfolios

“…Second, stakeholders can introduce uncertainty to the objectives of a PP, which clearly shows a link between stakeholders and risk (Thompson, 2010). SRs arise from stakeholders' engagement with a PP, and research has been conducted on internal stakeholder conflict risk (Guan and Guo, 2016) and the proactive management of SRs (Jia et al, 2020). As PPM evolves, its strategic view requires stronger external orientation in an organization (Martinsuo and Geraldi, 2020), and many external stakeholders have negative attitudes toward PPs; the ESRs posed by their actions can hinder the success of PPM (Maddaloni and Davis, 2017).…”

Identifying the Non-Traditional Safety Risk Paths of Employees from Chinese International Construction Companies in Africa

“…In this section, we will identify the safety risk factors and classify them into those categories based on extensive literature review and case study. The literature review is a frequently used method for identifying risk factors [ 60 ]. Articles considered in the literature review were related to the safety risks of Chinese employees in Africa and published in international and Chinese scientific journals up to November 2020.…”

Game Analysis of the Multiagent Evolution of Existing Building Green Retrofitting from the Perspective of Green Credit

“…e government can establish a multiagent information linkage mechanism to achieve information transparency, increase information disclosure, and implement ESCO ratings so as to alleviate the information asymmetry among various subjects. Effective information helps reduce owners' risk perception, thus stimulating their initiative for cooperation [40]. (2) As important financial institutions, banks play an important role in green retrofitting.…”

“…(2) As important financial institutions, banks play an important role in green retrofitting. erefore, banks should improve their sense of responsibility, respond to the call of the government, actively implement green credit, establish a responsibility system or functional department focusing on environmental risk inspection and identification, formulate corresponding assessment and incentive mechanisms [40], and establish a sound corporate environmental protection rating system. We can increase loans to environmental enterprises and actively solve their financing problems.…”