Feasibility of verbal analysis application to solving the problems of investment in construction

Abstract

In project development it is hardly possible to get exhaustive and accurate information. As a result, the situations occur, the consequences of which can be very damaging to the project. Inaccurate evaluation of the strategy related to capital investment and project implementation is one of the reasons why such estimates are not required in practice. Instead, classification approaches may be used for this purpose. Contractors of international construction projects are often faced with complicated situations working in the conditions of uncertainty in construction. One of the potential risk factors is associated with the requirements of contract conditions. One of the major aspects is project or contract management. Project developers need various models of large and complex projects' management. The suggested method for evaluating contract effectiveness may be successfully applied at one of the stages of project management. This paper presents methods of multiattribute comparative analysis (CLARA and UniComBOS methods) of variants of classified investment risks and contract alternatives in investment and building projects of construction. A practical case illustrating the work of the methods is presented.