Risk management of post-construction costs in residential rental buildings

Abstract

The post-construction cost of the buildings represents an essential part of its life cycle cost and therefore its control is fundamental to achieve the economic sustainability of a building. The present research proposes a model to identify, analyse and assess the risk of increases of post-construction cost in residential buildings for rental. To develop it, we turn to experts' assessments and the experimentation of the model in different buildings. We use the semi-structured interview (a total of 83) as well as the Delphi method: in this last one, inquiry forms are replaced with interviews, so data quality are increased. The model proposes a scale to adjust the building risk level, which is between a minimum of 36 and a maximum of 109. The research results reveal that from the value of 75, the risk level is considered unacceptable.