Developing readiness levels for risk assessment in green transition engineering projects

Abstract

This paper aims to develop a risk assessment framework that addresses both the complexities of the risk landscape that green transition portfolios face, but is recognizable and easily understandable by stakeholders. For this purpose, we build upon the framework of NASA Technology Readiness Levels (TRLs). This study analyzes six existing readiness levels framework that are held towards uncertainty factors from the Green Transition. The TRL scale are coupled with Risk, Uncertainty, and Ignorance to score the individual level of uncertainty. The paper ends with suggestion for further studies.