Abstract

The development of the state's economy depends on the efficiency of construction enterprises, as one of the indicators reflecting the state and trends of the internal and external economic environment. In the conditions of the functioning of construction enterprises, the importance of relations between the development of the construction and investment project and its stakeholders (project participants, interested persons) is increasing, which affect the resulting indicators as a complex set of organizational, factual and legal actions in the process of professional entrepreneurial activity aimed at creating and (or ) conversion of real estate objects for the purpose of obtaining profit from such transformations. In this context, it should be noted the decrease in the effectiveness of the interaction of construction developers, namely with customers of construction products, contractors, design organizations, competitors, public organizations. In such conditions, there is a need for the formation of theoretical and methodological foundations for the development and implementation of a stakeholder-oriented management strategy of construction enterprises as a method of organizing the investment process, which aims to organize financing and the implementation of a real estate development project within the given time and within the relevant restrictions in order to obtain a commercial benefits The article proposes a definition of the morphological classification of the essence of the concept of "development" in the construction industry on the basis of strategic contours and social directions and is determined by functional, resulting, structural, process, strategic, complex features, the relationships of which have a certain level of risk and threats. Risk and profitability are considered when forming an investment portfolio as two interdependent categories. The formalization of the amount of risk, which is evaluated according to the following parameters: the mathematical (average) expectation of the value of profitability, as well as the degree of variability of profitability, has been carried out.

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