РАЗРАБОТКА МОДЕЛИ ЦЕННОСТНО-ОРИЕНТИРОВАННОЙ ОЦЕНКИ СТОИМОСТИ СТРОИТЕЛЬНЫХ ПРОЕКТОВ С ТОЧКИ ЗРЕНИЯ ИНСТИТУЦИОНАЛЬНОГО ИНВЕСТОРА С УЧЕТОМ ИНТЕРЕСОВ КЛЮЧЕВЫХ ГРУПП СТЕЙКХОЛДЕРОВ

Abstract

In the modern conditions of the development of the world economy, a significant problem is being formed regarding the effectiveness of assessing the market value of construction projects from the point of view of institutional and private investors. This problem is caused by the instability and uncertainty of the development of the world economy, on the one hand, as well as the imperfection and lack of modernity of traditional methods of assessing the market value of construction projects, on the other. Within the framework of the current development of the situation in the global economy, the implementation of construction projects is associated with significant risks, which creates significant threats in the field of investment efficiency. This issue requires improving the process of assessing the market value of construction projects from the point of view of an institutional investor. The existing models of evaluation of construction projects are focused mainly on the profitability indicator and do not take into account two key factors: the dynamics of potential growth in the market value of the project and the interests of stakeholders as key persons able to influence the cost of the construction project. The model proposed in the framework of this study includes two key advantages in its structure, it allows you to calculate the growth potential of the market value of a construction project in an unstable economic situation. In addition, this model takes into account the interests of key groups of stakeholders, which makes it possible to determine that this model of estimating the market value of a construction project takes into account both quantitative and qualitative factors affecting the cost of the project. The model is based on the paradigm of comparative evaluation of construction projects from the point of view of an institutional investor, the calculation of the final results of the effectiveness of individual construction projects, according to this model, allows you to identify the most priority and effective from the point of view of a potential investor. This model makes it possible to assess the growth potential of the market value of a construction project both at the pre-investment stage and at the stage of direct investment. This model fully corresponds to modern trends in the field of investor orientation mainly on the potential growth rates of the market value of a construction project.