Green Building Project Report: Bank of America, Risks and Strategies

This report provides an in-depth analysis of the Bank of America's green building project, examining its environmentally sustainable construction, which utilizes renewable resources and biodegradable materials. The report identifies potential risks during construction, such as durability issues with recycled materials, adherence to standards, performance expectations, and worker health concerns. It also analyzes the impacts of these risks, including investor loss and difficulty in securing insurance. The report then details the risk management strategies employed, such as strict adherence to construction standards, material testing, worker training, and negotiation for insurance policies. Finally, it assesses the strengths and weaknesses of these strategies and offers recommendations for improvement, including enhanced worker training, consistent legal enforcement, and specialized insurance packages tailored to green buildings. The report concludes by referencing several sources that support the analysis.

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GREEN BUILDING PROJECT
By Name
Institution
Name
Course
City

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GREEN BUILDING PROJECT: THE BANK OF AMERICA
Green building are environmentally and globally sustainable structures that apply the
technology of utilization of natural and renewable resources throughout the construction`s life
cycle (Darko et al, 2017 p. 388). This involves the planning and strategy of the building
construction. All the operations and maintenance are environmentally carried out. The Bank of
America in New York City is a greenly constructed tower. The building has a height of 1200 feet
and 54 floors. It was primarily build from the reusable and biodegradable materials. This was
mainly to ensure that the emission of hazardous gases such carbon dioxide are highly minimized.
The Bank of America entirely depends on the use of natural sources of energy for both day and
night lighting. Solar panel are used provide energy during the night while insulating glasses are
used to provide light during the day.
Sources of Risks during the Construction of Bank of America Projects
The bank of America building is based on the green building concept. Arguably, it
presented the best option during the low economic levels in the US and even globally. However,
the choice of recycled and re used contrition materials presented a low durability risk. Even
though the American building was tall and strong, there is the silent fear of the durability and
sustainability of the choice of materials used.
Besides that, at its construction, at some point it failed to follow the laid down standards
to the latter (Darko et al, 2017 p. 328). This ended up in substandard building. The substandard
building presents a probable loss in revenue collection in the future.
Again, the performance expectation of the bank of America was not adequately
estimated. Therefore the developer could not predict the future of the project. In terms of

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investment, it emerged very risky to determine the future income. This is mainly due to its young
age which led to low knowhow of such projects
In addition, the use of new and untested materials in the construction operations exposed
the workers to health risks. The material used was renewable, but in some situations the
materials emerged degrading with time costing the bank of America developer more capital.
Lastly, the financial savings became a mojor issue at the bank of America project (Kibert,
2016 p. 188). This is because of the research which was done by the U.S. Green Building
Council revealed that the project consumed more energy than was predicted at its inception.
Impacts of the Risks
The continued risk of the bank of America buildings to some extent crippled it level of
activities. There was increased loss of investors who probably doubted its sustainability. Again,
many workers rebelled work at its construction owing to the nature of construction risks. Lastly,
it was highly difficult to secure a good insurance policy.
Risk Management Strategies
To control the probable risks, the bank of America attempted to adhere to the laid
standards of construction. The legal enforcement institution ensured that most if not all the
standards are followed. The building materials are tested for safety before use (Li et al, 2017 p.
155). The workers were taught and trained to take precautions during construction to avoid any
casualties. Lastly, it took adequate negotiation and policy explanation to secure a perfect
insurance policy.
Strengths and Weakness of Strategies

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Strict implementation of standards during construction led to long lasting building in
terms of life time. This is particularly attributed to the testing of materials something that
provided confidence in the building bank of America.
Sometimes the legal team in charge of the construction failed to follow up during
construction. This presented a great danger. Some weaknesses are due to human error and
negligence.
Recommendations
Human error is inevitable; therefore the workers should be well trained to minimize such
errors as possible. The laws should also be implemented to latter during construction. Lastly, a
special insurance package ought to be designed to address the unique needs of green buildings,
bank of America included.

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References
Darko, A., Chan, A.P., Owusu-Manu, D.G. and Ameyaw, E.E., 2017. Drivers for implementing
green building technologies: An international survey of experts. Journal of cleaner
production, 145, pp.386-394.
Darko, A., Chan, A.P.C., Ameyaw, E.E., He, B.J. and Olanipekun, A.O., 2017. Examining issues
influencing green building technologies adoption: The United States green building
experts’ perspectives. Energy and Buildings, 144, pp.320-332.
Kibert, C.J., 2016. Sustainable construction: green building design and delivery. John Wiley &
Sons.
Li, Y., Chen, X., Wang, X., Xu, Y. and Chen, P.H., 2017. A review of studies on green building
assessment methods by comparative analysis. Energy and Buildings, 146, pp.152-159.