FEATURES OF RISK ASSESSMENT OF STAGES OF INVESTMENT AND CONSTRUCTION PROJECTS OF COMMERCIAL REAL ESTATE IN THE CONDITIONS OF EXTERNAL CHANGES

Анотація

Abstract. The article provides for the consideration and definition of the methodological basis for determining the risks of stages of the current implementation of a construction and investment project in the conditions of external changes. Classical optimization methods for reducing the construction period of complex residential and commer-cial real estate projects involve the use of parallel methods on two technologically identical works with an increased flow reversal period. In previous areas of scientific research, examples of balancing two works by using special and universal machines with specialized specialists or complex teams were given, and technical and economic indicators were determined for the performed optimization. From the point of view of consideration of construction objects by customers - investors of construction projects or development projects, the traditional approach to investment design is usually considered, where the investment and construction project is considered as "an object of a financial transaction, which is associated with the distribution of financial receipts and expenses over time." Accordingly, the essence of investment design within the framework of traditional practice is reduced to the projection of cash flows of the construction of the facility into the future for the duration of the investment period and the total period of construction of real estate objects. The result of scientific research will be the construction of such a projection of external changes on the financial plan of the investment and construction project, which should be based on forecast reports on cash flows and financial results according to the schedule of construction work. Risk accounting in the management of investment and construction and commercial projects was considered by such scientists as V. Shapiro, S. Bushuev, V. Morozov, M. Doroshenko. The purpose of the article is to further study the essence of the impact of the external nature of the risk of an investment and construction project, both technological and financial, and the impact of risk on determining the effectiveness of the investment project, regarding the use of the theory of utility for managing the risks of implementing investment and construction projects. Analyzing the effectiveness of an investment project, scientists note that the financial plan as part of an investment and construction project belongs to future periods and is predictive in nature. In turn, neither future results nor the amount of potential future costs are completely known. Thus, the so-called calcu-lations of unforeseen risks appear. In many cases, this issue arises when determining the effectiveness of an investment and construction project, when the investor determines the risk acceptable to him in order to obtain the expected result without affecting the construction process.

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