Construction and real estate crisis management model and recommended system

Abstract

Various econometrics and operations research methods and models, neural networks, decision support, expert and knowledge systems are used for crisis management in different construction and real estate fields. It may be noted that researchers from various countries engaged in the analysis of crisis in the construction and real estate sectors but they did not consider the research object that is being analyzed by the authors of this present research. The latter may be described as a life cycle of the construction and real estate industry, the stakeholders involved and as the micro, meso and macro environments that have some particular impact on a life cycle in making an integral whole. A complex analysis of the formulated research object was performed with the help of Construction and Real Estate Crisis Management Model and Recommended System which were especially developed for this purpose. Economic, political and legal/regulatory decisions, social, culture, ethical, psychological, educational, environmental, provision, technological, technical, organizational and managerial factors were considered in the developed Model and System.