Management Of Investment Projects Research Articles

Research on investment project risk prediction and management based on machine learning

In the era of digital economy, digital transformation is an inevitable choice in line with current economic development and national policy trends. Enterprises use new generation digital technologies such as big data, blockchain, cloud computing, artificial intelligence, and financial technology to apply these technologies to various production and business activities. The research on project risk management has gradually introduced the method of intelligent decision-making, using technologies such as big data and artificial intelligence to identify and analyze risks. We use learning models and ensemble learning techniques to predict and manage the risks of investment projects. Through long short-term memory networks (LSTMs), we are able to effectively extract spatiotemporal features from historical investment data to predict future risk dynamics. In order to further improve the accuracy of prediction and the robustness of the model, we introduced the Gradient Booster (GBM) ensemble learning method. These integrated technologies not only optimize the overall performance of the model, but also enhance the adaptability and forecast accuracy of various market changes. In the experimental analysis, we compare the performance of multiple models on real-world investment datasets, and the results show that the ensemble learning method has significant advantages in risk prediction accuracy.

Research on the Construction of a Risk Assessment Indicator System for Transportation Infrastructure Investment under Public–Private Partnership Model

This paper is dedicated to developing a risk assessment indicator system applicable to transportation infrastructure investment projects in the public–private partnership (PPP) model. Initially, through practical research, literature reviews, and expert interviews, key risk factors for transportation infrastructure investment projects in the PPP mode were identified. Based on these risk factors, a preliminary risk assessment indicator system was established. Subsequently, the principal component analysis (PCA) was used to reduce the dimensions of the indicators, simplify the structure of the system, and highlight key risk factors. Simultaneously, the CRITIC-EWM method was applied to calculate the weights of the indicators. Furthermore, to validate the effectiveness of the indicator system, a questionnaire survey was conducted, collecting 314 responses. Structural equation modeling was applied to validate the effectiveness of the indicator system and examine its application value in practical risk management processes. The primary contribution of this study lies in proposing a method for constructing a risk assessment indicator system that combines quantitative and qualitative analyses, providing new theoretical and practical guidance for risk management of transportation infrastructure investment projects under the PPP mode.

Methodological aspects of investment and construction projects management based on IPD, BIM, LEAN. Foreign experience

Overexpenditure of cost and time resources is one of the most significant problems, and cost certainty is one of the key goals of the construction industry in Russia. Using the method of an analytical review of documents, the main problems of the European construction sector that exist in the process of its digital transformation were identified and characterized. Research has shown that the interdisciplinary synergy of BIM (Building Information Model, digital information model), Lean (lean manufacturing) and IPD (Integrated Project Delivery, integrated project execution) can benefit an investment and construction project (ICP) throughout its entire life cycle . However, such a synergetic approach is not currently applied in Russian projects. The article examines the impact of innovative international strategies for implementing COI and examines the obstacles to the implementation of these strategies in Russia.3 key takeaways:1) review of COI contracts to achieve the greatest synergy and increase trust between stakeholders;2) the BIM mandate is important to encourage the use of modern construction methodology in all ISPs in Russia;3) search for innovative methods of changing traditional thinking about construction.Consideration of three main ideas will accelerate the implementation of COI in Russia, leading to better results in the short, medium and long term for all stakeholders.

Investment and construction project management system with the use of building information modeling

One of the key principles of the construction industry development until 2030 is the transition to building information modeling at all stages of the life cycle of the capital construction object. The process of digital transformation not only affects and changes the final product, but also requires a full-fledged re-engineering of the company's internal processes.Purpose: The aim of this paper is to conduct the systems analysis of construction stage management within the framework of investment and construction project realization in the conditions of digital transformation.Research findings: The model of the life cycle management system of the capital construction object is developed using basis the information model.Value: Two main problems are outlined, that must be solved to implement the developed management system into practice.

THE ROLE OF ARTIFICIAL INTELLIGENCE IN IMPROVING THE EFFICIENCY AND QUALITY OF INVESTMENT PROJECTS

Artificial intelligence (AI) is a modern technology that has transformed the management of investment projects. Artificial intelligence offers a wide range of opportunities to improve the efficiency and quality of investment projects in a variety of ways, including data analysis, and the ability to process vast amounts of data that enables artificial intelligence to effectively analyze historical and current data. This helps to make more accurate decisions and a deeper understanding of potential trends and challenges, improving planning helps artificial intelligence to improve planning processes and identify potential risks. Using smart forecasting models, investors can estimate different impacts and identify optimal scenarios for maximizing returns on investment and improving project management. Artificial intelligence can improve project management processes by predicting and identifying potential problems early, allowing immediate corrective action, and avoiding unforeseen delays. Improved decision-making contributes to improved decision-making capacity by providing thorough analysis and comprehensive reports. This supports investors and leaders in making informed decisions based on accurate and prompt information.

The cost management of civil and agro-industrial construction project in the scope of information model

The necessary conditions for the existence of an effective cost management system of investment and construction projects are established in the article. Stated aim of the study is to develop methodological provisions of the cost engineering using information modeling technologies. The methodological blocks for parameterization, goal-setting and algorithmization of the information model of an investment and construction project are developed by the author. A list of aggregative cost parameters and an aggregative cost function of an investment and construction project, which is based on aggregative cost parameters, are presented. The processes of budgeting, control and managerial decision-making were considered by the author as functional blocks. The tasks of project budgeting in the scope of an information model, the comprehensive budget model of an investment and construction project and its system parameterization are presented in the article. The main provisions of project cost control and a list of basic cost indicators for control purposes are considered. The requirements of information modeling compatibility with the current subject activity and other software are determined. The author has developed the main provisions of project change management in the scope of information model and recommendations for rational making management decision. An algorithm for a decision-making regarding the realization of an investment and construction project is presented. The prospects of adaptive management of investment and construction projects particularly cost is determined and the vector model of the project behavior under the management action is developed. The main customer requirements to the information model of the investment and construction project are presented. The advantages of using the 5D model in the cost management system for the implementation of an investment and construction project are revealed.

Реалізація інвестиційних проєктів на засадах партнерства влади, бізнесу та суспільства в Україні: сучасні тенденції та прогнозування розвитку

The article is devoted to the analysis of the current state and prospects for the development of the partnership of government, business and society on the basis of public-private partnership (PPP) in Ukraine for the period 2024-2030, in particular in the context of the country's post-war recovery. The paper examines the key trends in the implementation of PPP contracts for the period from 2018 to 2023, reveals serious problems in the implementation of projects, in particular, a decrease in the number of implemented contracts and an increase in the share of unimplemented and terminated contracts. The influence of military actions on the PPP implementation process is analyzed and the need to adapt management mechanisms to new conditions is emphasized. Special attention is paid to the role of PPPs in the recovery of critical sectors such as education, health care, transport and others, as well as opportunities to attract investments. Three main scenarios for the development of the partnership between government, business and society for the coming years are considered: optimistic, basic and pessimistic. It was determined that the PPP has significant potential for positive change, but success will depend on economic stability, political decisions and the effectiveness of legislative changes. For the purpose of more accurate forecasting, the Monte Carlo method was applied, which made it possible to obtain detailed forecasts of PPP development under three scenarios. The simulation results showed that the optimistic scenario predicts a high potential for project development and a significant amount of investment, while the pessimistic scenario reflects possible difficulties and limited growth. The importance of strategic planning and adaptation to possible changes for effective management of investment projects on the basis of partnership between government, business and society in conditions of uncertainty is justified.

АДМІНІСТРАТИВНИЙ МЕНЕДЖМЕНТ В УПРАВЛІННІ ІНВЕСТИЦІЙНИМИ ПРОЄКТАМИ

The purpose of the article is to study the impact of administrative management on the implementation of projects in investment activity. Administrative management acts as an organiser of project activities in the investment sphere. The authors have analysed the algorithm of administrative management and identified its components that should be applied in the practice of investment activity. The research methodology used was a systematic approach and a structural analysis, as well as the method of comparison. The process of administrative management of an investment project has been presented as a sequence of steps or stages, which include planning, organisation, execution and control. A general outline of this process is provided hereunder. This process can be iterative, with changes and adjustments made at different stages of the project depending on changes in internal and external conditions. The main goal of investment project administration is to ensure the efficient use of resources and the achievement of project goals. Developing an investment project charter is an important step in the process of project preparation and implementation. The charter is a document that formalises the main aspects of the project, its goals, terms and conditions, and the procedure for its implementation. Here are some key elements that are usually included in an investment project charter: project name and description; goals and objectives; management structure; budget and financial terms; implementation schedule; implementation conditions; reporting and monitoring system; termination conditions. An analysis of the investment project and business plan is provided in the article. Administrative management in the investment projects management includes the use of various tools and methods to ensure effective planning, organisation, control and implementation of projects. Key administrative management tools that can be used to manage investment projects are as follows: SWOT analysis; PESTLE analysis; Gantt chart; RACI responsibility matrix; project management methodologies are: Methodologies such as PMBOK (Project Management Body of Knowledge), PRINCE2 (Projects in Controlled Environments), Agile, Scrum; customer relationship management systems (CRM); financial analysis and control.

ALGORITHM OF FUZZY PRIORITIES FOR ALTERNATIVE SOLUTIONS

It is rather problematic to approximate the real decision management process with a mathematical model. Most decisions in the economy are complex in structure, multi-criteria tasks containing a set of descriptive, probabilistic, undefined characteristics. Such problems are solved by methods of system analysis. One of these methods is the method of analyzing hierarchies, which is used for models of personnel management, resource allocation, and evaluation of investment projects. The possibility of practical application of the method of analysis of hierarchies is limited by the requirement of complete certainty of alternative evaluations. Practical situations are characterized by uncertainty and limited information about the object or the decision-making process. Combining a systems approach with elements of fuzzy logic can correct this situation for the better. System models developed on the basis of the theory of fuzzy sets use the method of paired comparisons to rank management objects by factors and determine the importance of factors within the model. The article examines the algorithm for the synthesis of the vector of weighting coefficients of alternative decisions based on the matrix of pairwise comparisons with fuzzy estimates of alternatives. The possibility of combining elements of the theory of fuzzy sets and the method of analysis of hierarchies for the problem of decision-making is considered.

The system of investment and construction project management as a component of the company’s sustainable development

Investment and construction companies that have adopted the principles of sustainable development need to transform the project management system accordingly. The article discusses the integration of sustainable development in the management system of investment and construction projects. For this purpose, an analysis of scientific works in this area was conducted. During the study, the correspondence of adaptive management to the concept of sustainable development was revealed. As a result, the certain project management tools (Impact Map, management tasks assignment matrix / RACI (responsible, accountable, consult, inform), kanban board, DMAIC concept (define, measure, analyse, improve, control), Lean Six Sigma, business model canvas for sustainability) were compared with the mechanisms for integration of sustainable development (the definition of sustainable development activities, commitment action log, acceptance (consideration) of complaints, the improvement of sustainable development implementation in investment and construction projects and determination of sustainable development results in reporting). As a result, the problems of accounting and tracing at all stages of sustainable development requirements, as well as the problems of formation of correspondence reporting, were solved.

Investment project management paradigm: budgeting challenges

Introduction. The paper discusses methods of investment capital budget management, which adapts budget management practices and increases synergy with project management, adjusting the allocation of resources in accordance with the constraints and operational risks of business processes. Businesses regularly use project management to achieve unique results with limited resources under critical time constraints. In the service sector of the economy (in particular, trade), the use of project management to achieve organizational goals is even more common. The purpose of the paper is the application of the budgeting system in the management of the investment project. Results. As a result, it encourages flexibility in dealing with contingencies, focus on a strategic perspective, speed of budget management, cost-effective budgeting, added value to the enterprise and encouragement of collaboration. Thus, constraints can be operational or managerial, related to organizational politics and culture. To identify constraints in an organization, you must understand how the organization works as a system. In the business sphere, the functioning of the company is a vision of business processes. Business processes are sets of activities that create results (products and services) whose value is perceived by interest groups (stakeholders). The impact of deterministic decisions in the short term on the overall result of the organization decreases. However, budget management methods do not represent a probabilistic approach, as seen in the proposal of the critical path method as a means of improving project management in a volatile business environment. Conclusion. It is recommended that each capital investment of the organization be structured in the form of projects, and the method of rewarding managers should also reward those who achieve goals with minimal use of investment resources. If possible, the manager should strive to evenly return resources to investment capital. Finally, it is suggested for future research to identify other business practices that can benefit from this paradigm shift.

Multi-criteria decision support methods for the selection of the optimum contractor: A case study of a passenger transfer centre

Purpose: The main purpose of the paper is to apply the TOPSIS method for selecting the optimal contractor for a passenger transfer center.
 Methodology: The methodology is based on the use of TOPSIS, which determines the distance of decision alternatives from the ideal and anti-ideal solutions using evaluation criteria.
 Results: Two different contractor rankings were obtained depending on the weights of the criteria. With equal weights, the best contractor is number 5, while with weights determined by formula (8), the best is number 4.
 Theoretical Contribution: The paper contributes to the field of investment project management by demonstrating how the TOPSIS method can aid in decision-making for optimal contractor selection, thereby reducing the risk of erroneous decisions.
 Practical Implications: The practical implications of this research are significant for investment projects, as the demonstrated methodology can be directly applied to the contractor selection process, potentially leading to more successful project outcomes.

Učinci investicijskih projekata na samofinanciranje mjesnih Crkava u Africi

Dioceses need financial, material and human resources to organize worship, provide an honest livelihood for mission workersand fulfil their duty of charity and solidarity. This can’t be achieved with our hands always outstretched to the outside world. With a view to self-financing, several dioceses in Burkina Faso have launched investment projects. This article looks at the impact of investment projects on diocesan self-financing. To this end, we conducted surveys of 60 investment projects. Analysis of the results shows a positive effect. However, a number of shortcomings were noted, making this effect rather weak. To make it more significant, it is important for dioceses to invest in strategic areas, to improve the quality of their investments, to go further in their budgeting practices and to practice forward-looking management of the personnel assigned to investment project management. They also need to set up appropriate instruments such as a Strategic Investment Fund, a Catholic Investment Network and a Diocesan Office for Analysis, Monitoring and Evaluation of Investment Projects.

РАЗРАБОТКА ЭКОНОМИКО-МАТЕМАТИЧЕСКОЙ МОДЕЛИ МОНИТОРИНГА СОВОКУПНОЙ СТОИМОСТИ РИСКОВ СИСТЕМЫ УПРАВЛЕНИЯ ИНВЕСТИЦИОННО-СТРОИТЕЛЬНЫМИ ПРОЕКТАМИ

When managing the processes of implementing investment and construction projects, conditions of varying levels of uncertainty arise, giving rise to risky situations. Ignoring risk situations when implementing investment and construction projects leads to the emergence of risk combinations and increased risk costs and eliminating their consequences. Determining the risk intensity of a risk situation (combination) is becoming increasingly relevant; in this regard, the relevance of developing a model for monitoring the total cost of risks of investment and construction projects is increasing.
 The purpose of the study is to develop an economic and mathematical model for monitoring the total cost of risks of investment and construction projects. It has been established that in the military sphere, the amount of material costs for product development is significantly influenced by risks associated with the internal and external environment. This article examines existing models of investment and construction projects and identifies their distinctive aspects. The novelty of the ongoing research lies in the author’s approach to developing a model for monitoring the total cost of risks at various stages of the life cycle of investment and construction projects. The practical significance of the results lies in the possibility of monitoring the total cost of risks of investment and construction projects at all stages of its life cycle, estimating, based on the proposed model, the final total cost of investment and construction projects by summing up all the total costs of risks of the stages of investment and construction projects. These measures are aimed at preventing a risk situation or risk combination and ensuring the implementation of investment and construction projects. A design-process approach to feasibility studies and process management of investment and construction projects is proposed.
 Recommendations for applying the results obtained are the need to assess the total cost of risks of investment and construction projects at all stages of its life cycle in order to determine the source of its occurrence.

The ways of formation and receipts of corporative investment projects

The paper defines the basic theoretical and modern methodological approaches to the formation and evaluation of the feasibility of corporative investment projects. These are formed by the organizational structure of investment projects support on the basis of the functional distribution. The efficiency valuation mechanism of the corporative investment project is developed. The model of multi-factor efficiency valuation of corporative investment projects is developed and functionally filled. It is proposed an algorithm for grouping corporative investment projects by efficiency criterion. The analysis of the existing indicators of investment efficiency showed the absence of a valuation indicator the innovative efficiency of investment projects. There are formulated the author’s interpretation of this concept and proposed three-component indicator, the risk and inflation components of which determine what part of the innovative effect of an investment project can be lost as a result of the manifestation, respectively, of risk factors and inflation. It was developed a model of investment project management “investments-risk”, based on the simultaneous formation of a calendar plan and technological budget, as well as determining the probability of occurrence of risk events, measures on the actions for the common goals of investment projects and the development of actions to respond to risks with the use of structural decomposition of works as a result of interrelated calculation of terms and value of investment projects. It was developed a model of investment project management “investments-risk”, based on the simultaneous formation of a calendar plan and technological budget, as well as determining the probability of occurrence of risk events, measures on the actions for the common goals of investment projects. The mechanism of efficiency valuation of investment projects can get a boost in the development by introducing indicators of social and environmental efficiency of the investment project and on this basis determining the social significance, which will improve the quality and objectivity of the general justification of the investment project and will allow to systematize the sequence of valuation.

Developing a project-controlling model in telecommunications companies

Subject. The article considers the investment project management system. Objectives. The aim is to develop a project-controlling model in telecommunications companies. Methods. The study employs logical and systems approaches, general scientific methods of analysis and synthesis, and comparative analysis. Results. We developed a project-controlling model for companies operating in the telecommunications sector, including the description of key input data to the system; the main stages of project development and control. The paper presents recommendations on the development of a project management reporting system and a decision management subsystem. Conclusions. The advantages of the proposed project-controlling model include the ability to manage a balanced set of heterogeneous (financial and non-financial) goals that cover all project perspectives, from technology to finance; the use of risk management approaches and tools to identify project weaknesses, bottlenecks, and external threats; the formation of a system of benchmarks that enables to track the impact of emerging deviations at the level of current goals on the achievement of project’s strategic goal; the use of preventive control to predict deviations; periodic analysis of real possibilities of project implementation to prevent its inefficiency. The proposed model can be applied at telecommunications sector enterprises, and at enterprises of other industrial sectors characterized by high uncertainty of the external environment, a short product life cycle, and requiring regular investments.

ORGANIZATIONAL AND ECONOMIC SUPPORT FOR THE MANAGEMENT OF INVESTMENT PROJECT IN THE SYSTEM OF FORMING THE POTENTIAL FOR DEVELOPMENT OF THE UKRAINIAN REGIONS

Highlights the current issues of project management in the context of regional development. Using systematic and synergetic approaches, methods of analysis and synthesis, induction and deduction, comparative analysis, it is established that without proper organization of project management it is impossible to effectively use those financial resources invested in regional development. At the same time, the world has long known that their management system is a special area of modern management, the application of which gives tangible both current and future results. Every project in the process of implementation goes through various stages, which together are called its life cycle. And for the implementation of various functions of project management requires appropriate actions, defined as the processes of their management. At the same time, project management is an integrated process: actions (or lack thereof) in one direction affect other areas. This relationship forces a balance between project objectives – often improvement in one area can only be achieved through deterioration in another. At the same time, project management processes can be divided into six main groups, which implement different management functions: innovation, planning, implementation, analysis, management and completion. At the same time, the system of network planning and management methods should be singled out – a set of planning and management methods for economic development and research and development and design and technological work, new products, construction and reconstruction of buildings and structures, overhaul of fixed assets using network schedules used today in the national economу, which gives the opportunity to have a positive impact on the management of investment projects in Ukraine.

Management of the effectiveness of investment planning using economic and mathematical modeling

Introduction. When solving optimal tasks at the stage of technical and economic planning, it is necessary to establish an optimality criterion, which is mathematically written as an objective function. Minimization of the duration of the project works during its implementation within the time limit set by the investor is such a criterion in the formulation of our task. By limitations of the model, we understand such conditions, which are expressed in the limitation of resources both quantitatively and qualitatively: hence the problem of their saving, the best distribution, and effective use arises.Goal consists in the theoretical and methodological substantiation of the concept of managing the effectiveness of investment planning with the use of economic and mathematical modelingResearch methods. In the research process, general scientific and special methods of cognition were used: analysis and synthesis, theoretical generalization and formal logic, system approach, classification, statistical analysis, functional-value analysis, generalization, observation, mathematical statistics, simulation and network modeling, specification, technical and economic calculationsResults. It was found that with the help of the proposed technology «Flow» it is possible to determine: the calendar schedule of works for the optimal version of the project implementation; the calendar dates of the start and end of critical works, on which the duration of the entire project depends; actual project implementation costs. The value of the objective function shows what additional costs are necessary for the implementation of the investment project in a given period. It has been proven that the «Flow» technology allows you to determine the value of the model and, in our opinion, demonstrates the improvement of the existing solution to the tasks of project implementation within the given time and ensures the compatibility and unity of information support, and therefore allows you to receive more reliable data. The main advantages of the proposed method were evaluated: availability of raw data; a calculation algorithm that is understandable to any project participant; clarity of results; connection in a single model of the economic interests of the main participants of the project.Perspectives. Further research should be aimed at carrying out a continuous process of qualitative and quantitative assessment of the effectiveness of the project management information system and the need to create a special organizational unit - a strategic committee, which will allow the creation of mechanisms for effective management of investment projects of the territorial community, to achieve its strategic goals, and will also contribute to the implementation of strategies due to the consistent actions of the community investment development management staff.

System analysis of tools and software products for evaluating the effectiveness of investment projects

The subject of this study are investment design management tools that allow evaluating the effectiveness of investment project options. The object of the study is digital products (software solutions) designed for automated efficiency assessment and selection of attractive projects for investment. The author has determined that the choice of the most profitable project for investment is the key task of the pre-investment stage of the investment process, while the presence of a large amount of information, the influence of external and internal weakly controlled factors, the state of uncertainty accompanying the investment process actualize the use of software products. Particular attention is paid to identifying and formalizing requirements for software products for risk analysis and evaluation of the effectiveness of investment projects, which will save time and financial resources and eliminate the influence of the human factor on the choice of a project for investment. The research methodology includes the use of a systematic approach to identifying tools and indicators for evaluating the effectiveness of investment decisions. The author conducted a comparative analysis of software products that act as tools for assessing the attractiveness of investment projects when choosing the most acceptable for the development of commercial activities of industrial enterprises. The results of the comparative analysis of domestic and foreign investment project management software solutions presented on the technology market made it possible to systematize programs, identify their strengths and weaknesses and formulate requirements for an optimal software package for analyzing and evaluating the effectiveness of investment projects of an industrial enterprise. The digital solution developed by the author for risk analysis and evaluation of the effectiveness of investment projects should have the following characteristics: functionality, reliability and stability, interface and usability, compatibility, price and licensing conditions, technical support. Based on the results of the study, the scope of application of the results of the comparative analysis of software products is determined – the further development of digital solutions for evaluating the effectiveness of investment projects, ensuring the effectiveness of the management process of investment design of enterprises.

Investment risk analysis and project management in real estate

Investment risk analysis and project management in real estate