Revaluation of construction projects using statistical data

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F00216305%3A26110%2F23%3APU149140" target="_blank" >RIV/00216305:26110/23:PU149140 - isvavai.cz</a>

Result on the web

<a href="https://pubs.aip.org/aip/acp/article/2928/1/070003/2913211/Revaluation-of-construction-projects-using" target="_blank" >https://pubs.aip.org/aip/acp/article/2928/1/070003/2913211/Revaluation-of-construction-projects-using</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.1063/5.0171060" target="_blank" >10.1063/5.0171060</a>

Result language

angličtina

Original language name

Revaluation of construction projects using statistical data

Original language description

The decisive parameter of every project is its price and its adequacy to the expected benefits. The investor decides whether to implement the project or withdraw from it based on its calculation. He makes a so-called investment decision. The planned goal of the project and its duration are relatively constant parameters. The most expensive part of a construction project is the construction work implementation. The price is determined by the budget, that is, by valuing the bill of quantities of individual structures and works. Many months or years can pass between the moment of the construction appreciation and its actual implementation, especially for large projects. The current price of resources used at the time of implementation is affected by the fluctuation of the price level, especially of building materials and built-in products. Therefore, the final price of the construction project may differ significantly from the budget price. A suitable tool for the correct determination of the price of the construction structure and works implemented is the adjustment of the budget price by multiplying it by a coefficient that reflects the price level development - the so-called price index. The use of a reliable source of indices ensures that the investor does not overpay for the project (the price is not excessive) and that the contractor does not lose money (makes the expected profit). In the Czech Republic, the Czech Statistical Office calculates and publishes quarterly price indices for construction structures and works. The contracting parties (the client and the contractor) may agree on the exact conditions for the use of price indices in the construction contract. This concerns in particular their structure according to the classification used and the determination of the time interval between the budget calculation and the invoicing for the work carried out. The article describes the methodology of surveying construction work prices and calculating price indice

Czech name

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Czech description

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Type

D - Article in proceedings

CEP classification

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OECD FORD branch

20101 - Civil engineering

Project

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Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2023

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Article name in the collection

World Multidisciplinary Civil Engineering-Architecture-Urban Planning Symposium - WMCAUS 2022

ISBN

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ISSN

1551-7616

e-ISSN

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Number of pages

8

Pages from-to

1-8

Publisher name

AIP Publishing

Place of publication

Melville, USA

Event location

Praha

Event date

Sep 5, 2022

Type of event by nationality

EUR - Evropská akce

UT code for WoS article

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