Bugrova O. Construction Effectiveness Enhancement on the Standpoint of Project Value Chain.

The goal of this dissertation is to develop the theory of project effectiveness dynamic in uncertain environment. This theory results from interaction of such fundamental disciplines as financial management, construction economics and project management. The starting conceptual point toward mentioned development is “project value chain”. This term means that a project step-by-step gains its value through phases of project life cycle, and this value is measured with net present value (NPV) by the main project stakeholder – investor. On the other hand, this means that each project phase has its particular aim and drives to manage effectiveness according to changing risk environment. So, a set of appropriate principles, measures and methods was identified and recommended for each construction project phase. As a result, we proposed to attach to existing 9 areas of knowledge on project management, outlined in PMBOK, the tenth area – project effectiveness management. Finally, we tested proposed theory inpractice of construction projects, and so we examined that our approach is appropriate to the real world.