PROJECT MANAGEMENT STRATEGIES OF GREEN BUSINESS PARKS: CRITICAL SUCCESS FACTORS, BARRIERS AND SOLUTIONS

Abstract

The effects of rapid urbanisation and population growth throughout the world have resulted in the generation of anthropogenic heat creating negative connotations towards the economic, social and natural environment. The emissions of greenhouses gases (GHGs), most notably in the form of CO2 produced due to manufacturing and industrial processes both in Singapore and overseas have contributed to this phenomenon significantly. Thus, with the rise in environmental awareness and education, it is of no surprise that there has been a rapid surge in the popularity of constructing environmentally friendly built-environments. While many studies on generic green buildings have been carried out, few studies have focused on analysing Business Parks in the context of Green Construction. Therefore, this paper aims to examine the critical barriers of Green Business Parks and its impact on project objectives, and employing the critical success factors (CSFs) to optimize future project performance. In essence, a total of 15 barriers and 30 CSFs determined from various literatures were further grouped into six major categories and validated through a pre-survey questionnaire. The top five barriers against adoption of Green Business Park projects includes: Perceived higher initial capital cost, Uncertain trade-off between environmental and financial benefits, Lack of Government support, Government Regulations and Lack of proven benefits to attract investors. The results of the analysis also suggested that the top 5 CSFs included: Strong top management support, Strong financial capability, Adequacy of design details and specifications, Ability to convey project objectives and goals clearly, and Competency of project manager. Further analysis showed that ‘Project Costing’ was the main barrier preventing market participation, and among the 21 solutions proposed, better Government funding and Accreditation were suggested as areas to improve the potential of the Green Business Parks. Finally, the survey found that more emphasis should be given to the public and private collaborations to develop an integrative approach yielding the greatest benefits.