MCDM'05 - paper no. 19


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Classification of real alternatives and its application to the investment risk in construction

Leonas Ustinovichius, Galina Ševčenko, Dmitry Kochin


Risk is an integral element of any economic project. It is impossible to avoid, and therefore it is necessary to be able to estimate and minimize it. Any investment in construction can be risky. The basic purpose of risk analysis my be formulated as follows: to given to potential partners of the project the facts on the issue related to making a decision whether to participate in the project and which method to choose so that financial losses are avoided. The paper Classification of Real Alternatives and Its Application to the Investment Risk in Construction ()L. Ustinovicius, G. Sevčenko, D. Kochin) presents a verbal method of determining investment risk in construction. A new way to solve the problem, based on verbal Decision Analysis approach, is offered.

Reference index:

Leonas Ustinovichius, Galina Ševčenko, Dmitry Kochin, (2006), Classification of real alternatives and its application to the investment risk in construction, Multiple Criteria Decision Making (1), pp. 299-318

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Scopus citations in 3 paper(s):
  1. Ginevičius, K. (2008). Normalization of quantities of various dimensions. Journal of Business Economics and Management, 9(1), 79-86. doi:10.3846/1611-1699.2008.9.79-86
  2. Ustinovichius, L., Shevchenko, G., Barvidas, A., Ashikhmin, I. V., & Kochin, D. (2010). Feasibility of verbal analysis application to solving the problems of investment in construction. Automation in Construction, 19(3), 375-384. doi:10.1016/j.autcon.2009.12.004
  3. Ustinovicius, L., Kutut, V., Kochin, D., & Shevchenko, G. (2008). Verbal analysis of renovation investment strategy of old town. Paper presented at the ISARC 2008 - Proceedings from the 25th International Symposium on Automation and Robotics in Construction, 397-410