Development of heuristic indicators of stability of complex projects in real estate management

Abstract

In this paper we propose and introduce a fundamental description of Project Management based on the Theory of Organisation and the Theory of Systems. Modelling aspects of projects as a set of interacting institutions leads to the application of a different view to understanding and administering Risk Management in terms of perceptibility and controllability. Based on this, methods of cybernetics and control engineering become useful to evaluate and describe factors of success for a construction project and to maintain them in order to lead even complex and inherently unperceivable projects along a well defined path to foreseeable results.