Financial Evaluation of Project Solutions Using Building Information Modelling and Artificial Intelligence
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Date
2025
Authors
Lukianchuk, Ihor
Bugrov, Oleksandr
Bugrova, Olena
Verenych, Olena
Journal Title
Journal ISSN
Volume Title
Publisher
111
Abstract
Construction industry has recently undergone rapid transformations driven by technological progress, increased market volatility, and challenges of transitioning to sustainable development principles. Making the most appropriate decisions in these dynamic conditions is crucial for success of a project, and since no construction project can be implemented without funds (this is a key, integrating resource), special attention should be paid to financial aspects. Best practices have emerged in the world to improve the financial assessment of project decisions, with a focus on risk reduction, cost optimisation, and value creation. The object of the study is project decision-making process in the context of discounted cash flow methods (DCFMs) under the influence of two different modern trends (increasing uncertainty due to the high dynamics of changes, on one hand, and increasing determinism due to the latest information technologies, on the other). Scientific novelty of this paper lies in the development of an improved conceptual model of financial evaluation of project solutions in construction, which complements discounted cash flow methods with the ability to obtain more reliable and complete data about a construction project (in particular, thanks to BIM and AI) and inclusion of other useful components in the system.
Description
Keywords
discounted cash flow methods, building information modelling, artificial intelligence, conference materials
Citation
111