ORGANIZATION OF REAL ESTATE DEVELOPMENT PROJECTS

Abstract

The considers the field of development, specifically focusing on the organization of project management in development. It is demonstrated that real estate development possesses certain characteristics that directly impact the activities of developers and the organization of development management. The presence of these characteristics creates a unique environment in which developers operate, influencing various approaches, schemes, forms, and models of project development management organization. The purpose of the article is to formulate systematic concepts regarding the forms of organization in development projects. To achieve the goal of forming a comprehensive understanding of organizational mechanisms for managing development projects, the paper examines the organizational environment in which project teams operate and the forms of project management organization in development companies. The paper illustrates that in the project life cycle model, the organizational structure of project management can vary both within individual phases and across projects of different concepts and scales. The management organization during different phases of the project life cycle (PLC) and the organizational structures of development companies during the construction phase have been analyzed. It is demonstrated that contemporary organizations consistently channel their efforts towards improving (developing) the organizational management environment in development and creating conditions for the successful implementation of projects. Therefore, in addition to the value of creating new tangible assets, the project management group (PMG) adds (creates) value through the establishment of a unique organizational environment. The approach to evaluating the values of collaborative work within a project team is demonstrated. The developed organizational environment unquestionably represents a value that the developer additionally acquires along with new development projects. Task: the paper explores the organization of project management groups (PMG) in development; organizational forms of development project management; the organization of project management in development during the construction phase as the most significant; and organizational structures of development companies. Research results: a system application for the organization of development projects’ management has been created. Possible forms of development projects’ organization and elements of the company's organizational structure are analyzed.