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Integrating sustainability into construction project portfolio management

  • Construction Management
  • Published:
KSCE Journal of Civil Engineering Aims and scope

Abstract

Construction project portfolio management has a large impact on many companies as they are often confronted with having more projects to select from than the resources available to execute them. Selecting the wrong projects will lead to wasted resources and loss of benefits which may have been gained by focussing on other projects. While there have been many discussions surrounding portfolio theory, there is currently a lack of framework which integrates sustainability into construction project portfolio management. This paper departs from existing frameworks (which focus more on monetary gains in projects) by proposing robust methods to account for sustainability across two critical stages: I. Screening; II. Optimal portfolio selection. Under the screening stage, sustainability project criteria are proposed followed by the use of second order moment thinking to account for uncertainty in sustainability measurements. The outputs from the screening stage are then used for developing an efficient frontier which facilitates the selection of an optimal portfolio from a sustainability perspective. The originality of this paper is that it aims to integrate sustainability thinking into construction project portfolio management which has not been attempted.

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Authors and Affiliations

  1. Dept. of Engineering Construction and Management, School of Civil and Environmental Engineering, University of New South Wales (UNSW), Sydney, NSW, 2052, Australia

    Renard Yung Jhien Siew

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  1. Renard Yung Jhien Siew
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Siew, R.Y.J. Integrating sustainability into construction project portfolio management. KSCE J Civ Eng 20, 101–108 (2016). https://doi.org/10.1007/s12205-015-0520-z

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  • DOI: https://doi.org/10.1007/s12205-015-0520-z

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