An Assessment of the Potential for Growth and Development in the Construction Industry

Abstract

For the purpose of productive research and management of the new quality economical growth potential building process in the construction industry, it is necessary to distinguish between quantitative and qualitative indicators of the growth of its economy, which entailed the necessity to search for a solution to the problem of justifying the measurement method and assessing the quality of its economy growth in correlation with the justification of a measurement method and assessing the potential for quality growth and economic development of the industry. To solve this problem, the principles and recommended attributes of identifying the processes of growth and development of the construction industry have been substantiated, which allowed substantiating methods for assessing the potential for economical growth in the construction industry and its economic development through the use of resources and structural methodological approaches. For the quantitative assessment of the economical quality growth potential in the economy of the construction industry and its economic entities, a resource approach has been recommended that allows to determine the magnitude of the change in the planned (actual) economic effect for the estimated period analyzed as a result of the effectiveness of employing labor, material and financial resources in the valuation for real cost and a structural approach was recommended to justify the assessment of the economic development potential of the industry. The developed methods for measuring and assessing the potential for growth in the economy of new quality and economic development of the construction industry are recommended to be applied in the process of measuring, planning, analyzing, assessing and monitoring the level of use of resource and innovation potential in the activities of construction organizations and their economic agents with similar parameters in terms of sector and region.