ITERATIVE APPROACH TO OPTIMIZATION OF DEVELOPMENT ACTIVITIES

  • Pavlo Fisunenko Prydniprovska State Academy of Civil Engineering and Architecture
  • Oleksandr Herasimenko Prydniprovska State Academy of Civil Engineering and Architecture
Keywords: development, development activity, development project, optimization, optimization criteria, iterative approach

Abstract

The article is devoted to the development of an iterative approach to optimization of development activities. It has been established that development is a new concept in the investment and construction sphere, which is becoming more and more widespread. The role and importance of construction activity in the national economy of the country, ensuring the reproduction of the main funds of various industries, and creating the basis for accelerated economic development are considered. The necessity of clarifying the scientific and theoretical bases for optimization of development activities is substantiated. The essence of the concept of activity optimization was studied, which made it possible to identify process and structural options for optimization. The feasibility of using structural optimization in development has been proven. It has been established that the optimization of development activities should be aimed at making the most rational, taking into account existing limitations, decisions regarding each of the development projects, forming the optimal structure of projects. An iterative approach to optimization of development activity is proposed, taking into account key optimization criteria, which is based on the analysis of existing and potential development projects with decision-making for each individual project depending on the stage of development of this project. Recommendations have been developed in relation to projects that are at the stage of assessing the probability of project implementation, the stage of determining the conditions of project implementation and developing a business plan, the stage of real estate project implementation. Based on the analysis of all existing and potential projects, it is proposed to form a list of them divided into projects that are being implemented, projects that are subject to adjustment, as well as projects that should be rejected or temporarily postponed. The developed iterative approach assumes that instead of one long sequence of actions, the entire cycle of development activities is divided into a number of separate mini-cycles, each of which consists of basic stages. This approach allows ensuring the successful implementation of projects of the development company, the proper level of efficiency of its activities with minimal deviations from the expected results.

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Published
2024-01-30
How to Cite
Fisunenko , P., & Herasimenko, O. (2024). ITERATIVE APPROACH TO OPTIMIZATION OF DEVELOPMENT ACTIVITIES. Economy and Society, (59). https://doi.org/10.32782/2524-0072/2024-59-135
Section
ECONOMICS