Multivariate model of construction project operational efficiency

Abstract

Economic efficiency during the entire life cycle of a property is crucial when making a decision on an investment. The resulting performance indicators are influenced by various underlying factors. The purpose of the study is to determine the degree of the factors influence on the final result. The study considers an apartment building and 50 variants of the project implementation according to the chosen factors, which are construction period, selling price per square meter, discount rate, land plot cost and construction cost of one square meter. The net present value of the project (NPV) and internal rate of return (IRR) were selected as the resulting indicator. When performing the calculations, following method were used: project net present value calculation method (NPV); method for calculating the discounted payback period (PP); method for calculating the internal rate of return (IRR), sensitivity analysis, multiple correlation and regression analysis (multiple regression). We found that the selling price and construction cost of one square meter of the property affect the most on the net present value of the project (NPV). The obtained model can be used by investors to simulate various options for the effective projects implementation in changing environment.

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