Property economics and management No. 4 (2025): Real estate: economics, management

Life cycle of a renovation programme: identification, analysis and systematization of risks

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Life cycle of a renovation programme: identification, analysis and systematization of risks

Authors

  • Vadim Sergeevich Kankhva Moscow State University of Civil Engineering (National Research University) (MGSU)
  • Andrey Aleksandrovich Egorov Moscow State University of Civil Engineering (National Research University) (MGSU)

DOI:

https://doi.org/10.22337/2073-8412-2025-4-17-23

Keywords:

life cycle, renovation programme, risk classification, analysis, project implementation efficiency

Abstract

This article is devoted to studying the life cycle of urban housing renovation programmes, which encompasses preparation, design, construction, relocation, and subsequent operation of renovated real estate. Special attention is given to identifying, analyzing, and classifying risks associated with each stage of implementation. For this purpose, a detailed classification of risks has been developed, covering organizational, economic, technical, and socio-environmental aspects. A housing renovation programme represents a complex multi-stage process where every phase comes with specific risk factors. For instance, during the preparatory stage, issues arise concerning urban planning documentation, quality of engineering surveys, and project approval procedures. The construction works are exposed to risks such as insufficient funding, low-quality materials or equipment, adverse weather conditions, and potential legal disputes. The resettlement stage involves communication problems with residents, delays, and litigation processes. The graphic model of the programme's life cycle visualizes its structure and associated risks. The main objective of the study is to develop an effective monitoring and risk management system aimed at enhancing the success rate of implementing the programme and achieving planned indicators for modernizing large cities’ residential infrastructure. Additionally, the authors propose optimizing decision-­making procedures and coordinating efforts among all participants involved in each stage of the programme’s execution. Effective risk management helps minimize negative consequences and improve overall efficiency by ensuring comfortable living conditions for citizens and long-term sustainability of implemented projects. This approach will significantly reduce financial and time costs while mitigating unfavourable impacts and enabling sustainable positive outcomes from the implementation of the renovation programme.

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Published

2025-12-30

Issue

Section

Property economics and management

How to Cite

Life cycle of a renovation programme: identification, analysis and systematization of risks. (2025). Real Estate: Economics, Management, 4, 17-23. https://doi.org/10.22337/2073-8412-2025-4-17-23

Keywords

life cycle renovation programme risk classification analysis project implementation efficiency

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