Developing a Comprehensive Risk Monitoring Framework for Real Estate Projects: Addressing Multidimensional Challenges to Ensure Project Success
Real estate projects operate in a dynamic and complex environment, where a range of risks—such as scope changes, regulatory challenges, market fluctuations, financial constraints, and operational inefficiencies—can significantly impact costs, timelines, and project success. These risks often lead to cascading delays, budget overruns, and reduced returns. Effectively managing these challenges requires a strategic, integrated approach to risk management that accounts for both individual risk factors and their interdependencies.
This research aims to develop a Comprehensive Risk Monitoring Framework designed to systematically identify, assess, and mitigate multidimensional risks in real estate projects. By analysing multiple case studies, the study will explore critical risk factors such as scope modifications, regulatory compliance, financial strategies, and stakeholder coordination. The framework will integrate predictive analytics, proactive governance methodologies, and adaptive investment strategies, empowering stakeholders to anticipate uncertainties and take effective mitigation actions. The outcome is a data-driven, adaptive framework for improved decision-making, optimized resource allocation which enhances overall project resilience, ultimately ensuring long-term project success.
