Adaptive management of investment and construction projects

Abstract

The modern conditions of investment and construction projects’ realization, particularly incompleteness, inaccuracy and lack of characteristics’ clarity of the project and environment of activity are highlighted in the article. The relevance of introduction of adaptive management methods and complex characterization are presented. Methods of the target function formation of investment and construction projects management are considered in the article. Moreover, the parametric approach based on the best result of managerial impacts is defined. The informational basis of input into the model is determined: actual project indicators, quantitative and qualitative description of the project status and situational problems. The adaptive essence of the management model has been identified as situational management. The conclusion of precedents and the description of construction production situations in the form of indistinct states model with the usage of linguistic variables were substantiated on this basis. The fragmentary example of the precedents base based on the studied experience of investment and construction projects implementation is presented in the article. The author developed a basic algorithm of decision-making in the system of adaptive management of investment and construction projects. Prospects and predicted effects of introduction of adaptive management of investment and construction projects at micro-level and macro-level are determined.

Keywords

• adaptive management
• investment and construction project
• situational management
• production model