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Developing readiness levels for risk assessment in green transition engineering projects

Published online by Cambridge University Press:  16 May 2024

Andy Mattulat Filipovic ,
Torgeir Welo  and
Josef Oehmen
Andy Mattulat Filipovic*
Affiliation:
Norwegian University of Science and Technology, Norway Technical University of Denmark, Denmark
Torgeir Welo
Affiliation:
Norwegian University of Science and Technology, Norway
Josef Oehmen
Affiliation:
Technical University of Denmark, Denmark
*
[email protected]

Abstract

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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.

Keywords

green transitionportfolio managementuncertaintytechnology readiness level (TRL)xRL
Type
Design for Sustainability
Information
Proceedings of the Design Society , Volume 4: DESIGN 2024 , May 2024 , pp. 1239 - 1248
Creative Commons
Creative Common License - CCCreative Common License - BYCreative Common License - NCCreative Common License - ND
This is an Open Access article, distributed under the terms of the Creative Commons Attribution-NonCommercial-NoDerivatives licence (http://creativecommons.org/licenses/by-nc-nd/4.0/), which permits non-commercial re-use, distribution, and reproduction in any medium, provided the original work is unaltered and is properly cited. The written permission of Cambridge University Press must be obtained for commercial re-use or in order to create a derivative work.
Copyright
The Author(s), 2024.

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