ECONOMIC EFFICIENCY OF DETERMINING THE MARKET PRICE OF CONSTRUCTION RESOURCES WITHIN THE LIMITED BUDGET

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  Serhii Sichnyi

Abstract

The article examines the analysis of current prices in the market of building materials, products, structures, machines, and mechanisms (construction resources), which is performed by construction participants. The aim of the article is to study the possibility of achieving the maximum economic effect of the analysis of current prices in the market of construction resources within a limited budget. A universal mathematical approach is proposed to calculate the economic effect of the analysis of current prices in the market of construction resources, which is based on a selective method of the research of the market value of construction resources. The calculations take into account the difference between the real resources presented on the market and the estimated construction resources (resource position of the estimate), between the market price and the estimated market price of the construction resource. While performing the analysis of current prices on the market of construction resources in the given conditions of the limited budget the option to reduce the general list of resources by a selection of the optimum list with an application of methods of discrete optimization is offered. The condition for the formation of an abbreviated list of resources is the maximum economic effect that can be obtained from the analysis of current prices for selected resources. Method of heuristic rules is proposed, which allow to significantly reducing the initial list of resources by a simple analysis of input data. The application of these rules allows to reduce the variability of input data for discrete optimization or not to carry it out at all, because the amount of resources selected with their help satisfies the condition of the budget constraint. Recommendations on the composition of the source data are given – this is the project documentation and/or the market price of construction resources as a basis for comparison and information on the range of market prices (scope of sample variation) for the resources included in the study. In the article there are given examples of the practical application of the technique in the conditions of the construction industry in Ukraine. In general, the proposed approach can be used at all stages of variant BIMdesign, when it is necessary to determine the most optimal composition of structures and resources that meet the requirements for the life cycle of the object. Including under the condition of gradual detailing of constructs (an increase of LOD of the project), during designing, up to resources at a stage “Working project”. The main advantages of the proposed method are universality – it does not depend on the ultimate goal of the results of the customer and / or contractor and scalability – it can be applied to the structure, its individual design, or several resources.

How to Cite

Sichnyi, S. (2020). ECONOMIC EFFICIENCY OF DETERMINING THE MARKET PRICE OF CONSTRUCTION RESOURCES WITHIN THE LIMITED BUDGET. Three Seas Economic Journal, 1(4), 133-138. https://doi.org/10.30525/2661-5150/2020-4-19
Article views: 13 | PDF Downloads: 7

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Keywords

cost of resources in construction, cost of construction, market research, determination of market value of construction resources, analysis of current prices in the market of construction materials, estimated price of resources

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