Formation of a cumulative model for managing the value of construction projects

Abstract

The model, which effectively contributes to creation of maximum reasonable value of construction projects, was proposed. The proposed system is characterized by the fact that due to its convenient coherence, it adjusts the influence of its separate methods (elements) on project value in a cumulative manner. The need for such a model was driven by global challenges, such as necessity to reduce greenhouse gas emissions and to increase power efficiency of satisfaction of social needs. Characteristic feature of the proposed model is that it is composed of six interacting components, which collectively are self-sufficient for efficient engineering and management of construction projects. This concept is presented in the form of a crystal of cumulative application of three pairs of methods. The first pair includes value engineering and building information model. The second pair includes benefits-costs analysis and the theory of dynamics of project value. The third pair includes profiling of contract systems and pricing strategies. Each element of the proposed model, playing its natural role, coherently complements and reinforces its other elements. This model allows balanced decision making in terms of availability of various competing priorities of all stakeholders. The key priority of the cumulative model is preventive reaction to potential problems in the course of project implementation. It was established that the aforementioned pairs of methods and the model in general bring convenient and efficient synergy to architecture, engineering and management of construction projects. The synergy, which is a basic feature of the proposed model, provides a presence of two characteristics at the same time: complete coverage of project tasks that are solved and convenient compactness. It is the main advantage of the Crystal model of value management. Dynamics of usefulness and value of the project of office center construction within several consecutive sessions of model application model was calculated, it was shown that quality of project result almost reached its maximum. It demonstrates feasibility of further research in this direction and expansion of a range of projects of model application