The complexity and unfavourable conditions of the construction industry increase the various risks and uncertainties that have to be faced with while planning and implementing the construction projects, which affects the final result of the success of investment and construction activity. Adequate choice of a reliable construction project ensures directly the achievement of goals and the success of the investor, so the selection of a project is a critical component in the decision-making for potential investor.
Construction project management in Ukraine is relevant practical and scientific-theoretical task aimed at studying, substantiating and implementing new forms and methods of construction project management, improving the functioning of the construction complex as a whole. The essence of the engineering activity itself does not change regardless of the methods of construction work being carried out, but at the same time significantly different approaches to construction management vary considerably. In this regard, it should be noted that today's conditions require to enhance the activity of engineering company with the investor to meet his needs. In today's market conditions, such companies are required to be very dynamic and flexible in decision-making.
Low efficiency of engineering companies in Ukraine creates the risk of inefficient implementation of the construction project in time, increases the overspending of financial resources of the investor and so on. Given the above, this problem requires further consideration and development of organizational and technological tool for the implementation of investment and construction project on the basis of engineering. The choice of the right model and methods can solve the problem of risk management and uncertainty in investment decisions. This will help to choose the right investment directions in the construction industry and will improve the quality of investment.
The aim of the work is to develop toolkit to improve the organizational and technological reliability of investment and construction projects, including the transition from traditional methods of construction to new innovative approaches based on engineering using methods of evaluation and selection of alternative investment and construction projects based on fuzzy multicriteria approach under conditions of uncertainty.
This work proposes as a solution to this problem the procedure of selection of proposals for construction projects based on the theory of fuzzy sets, the main differences and advantages of which compared to other traditional models of selection are to use the algorithm to handle the mismatch in vague preferences of investors and the use of linguistic assessment of the parameters of construction projects by qualitative or quantitative criteria, respectively.
Decision-making in the construction industry is a very difficult task due to the uncertainty of many factors that affect the results of the selected investment and construction project. This research revealed 130 factors that may affect the decision-making process in substantiating the significant indicators of the investment and construction project. As a result of the expert survey, 32 uncertainty factors were selected as the most important.
The presented toolkit and the proposed model allow a comprehensive analysis of investment and construction projects, taking into account the investors’ needs, as well as environmental uncertainties. A hierarchically structured system of criteria for assessing the reliability of investment and construction projects has also been developed. The given system allows to describe characteristics of projects objectively and structurally, proceeding from the relevance of criteria and their groups. The presence of subjective ideas, many criteria, excess uncertainty and qualitative variables make it necessary to use multi-criteria decision-making methods for the task of project selection. As a basis, the technique for order of preference by similarity to ideal solution (TOPSIS) is proposed, taking into account the method of multiple-criteria decision-making (MCDM), because MCDM is very effective in many aspects, such as evaluation and choice of solution. Due to the impossibility of bringing all criteria into a single dimension, it was decided to integrate and use fuzzy logic approaches into multi-criteria decision-making methods to reduce the impact of inaccuracies, ambiguities, avoid uncertainty and allow decision makers to choose between criteria in an uncertain environment. According to the criteria determined by the order of importance, the TOPSIS method based on fuzzy logic is effective for choosing the investment and construction project that provides the most appropriate choice among the alternatives.
