DEVELOPMENT OF A RISK MEASURE AS A SUSTAINABLE PROJECT SELECTION CRITERION

Sustainable decision-making requires consideration of technology, ecol ogy, and the social and political infrastructure of society. While it may never be possible to identify with certainty what is sustainable a nd what is not, an attempt has been made in this paper to formulate a measure that permits one to compare the performances of project altern atives with respect to risk. An algorithm is presented for the evaluat ion of a risk criterion that can be used with other criteria in the pr ocess of selecting project alternatives. The intent of the risk criter ion is to involve project stakeholders in the process of quantifying t he risks associated with different project alternatives.