Investment Evaluation of Intelligent Residential Communities Using Value Engineering in China

Author

Huang, Zhiye

Author_Institution

Sch. of Manage. Sci. & Eng., Central Univ. of Finance & Econ., Beijing, China

fYear

2010

fDate

24-26 Aug. 2010

Firstpage

1

Lastpage

4

Abstract

The investment in Intelligent Residential Communities (IRC) has become one of the current highlights in the construction industry in China. The most important task that faces real estate developers and owners during investment decision-making is how to select a design option that would optimize the value of IRCs within a limited budget. In order to tackle this task, using Value Engineering (VE), this paper develops a value function combining the simple arithmetic method and life cycle cost (LCC) analysis to calculate value parameter and measure how well a particular IRC alternative achieves the requirements taking into account its overall cost. The proposed approach helps owners and developers identify the final value of IRCs so as to optimize decision and support evaluation.

Keywords

construction industry; decision making; design engineering; investment; life cycle costing; property market; value engineering; construction industry; design option; intelligent residential community; investment decision-making; investment evaluation; life cycle cost analysis; real estate developers; real estate owners; value engineering; Buildings; Chromium; Communities; Construction industry; Intelligent systems; Investments;

fLanguage

English

Publisher

ieee

Conference_Titel

Management and Service Science (MASS), 2010 International Conference on

Conference_Location

Wuhan

Print_ISBN

978-1-4244-5325-2

Electronic_ISBN

978-1-4244-5326-9

Type

conf

DOI

10.1109/ICMSS.2010.5575984

Filename

5575984