Risk Identification and Categorisation

The massive investment in Smart City development should come with a suitable risk management. To assist municipalities in identifying and managing their risk in smart city implementation, Ullah et al. (2021) had identified a technology-organisation-environment or TOE-based risk management. There are three layers of risks embedded in the smart city practice. By understanding these risks identified and categorised, city authority would have the tool to administer their own organisational challenge and carry out appropriate solution to prepare for in the implementation of their smart city vision. 

The first layer is Technology-related Risks, this includes risks that follows the adoption of new technologies, for example, IoT Management, Big Data Integration, Blockchain Management, and other technological advancement. Second layer of risk is the Organisational Risks which concern the various organisation in the city such as, User Data Security, Organisational Data Safety, Cloud Management etc. The last layer of risks is the External Environmental-related Risk, this is a risk layer that consist of the issues of environment, governance, integration, and security of a smart city. This last layer of risk may not have a direct impact on the users or organisation yet require attention to effective management for the continuity of the city management and governance. 

Reference:

Ullah, F., Qayyum, S., Thaheem, M. J., Al-Turjman, F., & Sepasgozar, S. M. (2021). Risk management in sustainable smart cities governance: A TOE framework. Technological Forecasting and Social Change, 167, 120743.

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