http://www.loc.gov/mods/v3 http://www.loc.gov/standards/mods/v3/mods-3-2.xsd
Decision support for real estate development cost estimating
xiii, 227 leaves : illustrations, maps ; 28 cm.
This research examines the theoretical underpinnings and
associated advancements related to the built environment and
decision support systems (DSS). Specifically for the built
environment this includes the disciplines of real estate
development, construction science and project management,
finance, statistics and economics, for decision support
systems this includes management science and decision
analysis, and computer science. The purpose of this research
was to design, develop and evaluate a prototype development
cost estimating decision support system for use in the pre-
development planning stage of real estate development.
Particular emphasis was placed on synthesis of each
discipline's models and/or advancements which support design
and development of a decision support system; derivation of
real estate development cost; and evaluation of risk. The
results of the design and development phases of this research
are embodied in the Real Estate Development Decision Support
(REDDS) system as documented in this dissertation. Following
design and development of the system, it was tested on a
group of real estate development and construction management
students at Texas A&M University. It was hypothesized that
such an interdisciplinary methodology, which utilizes a
decision support system framework, would facilitate
generation of consistent and timely analysis of real estate
development cost and associated risk and elevate the
confidence of the user in the decision making process. Test
results indicate that the REDDS systems does significantly
reduce conceptual cost estimating preparation time. Further,
it was determined that the REDDS system does not
significantly change the confidence of the user in the
decision making process. Finally, this study shows that use
of the REDDS system provides a consistent and sophisticated
framework for evaluating development cost and risk, which
leads to less variation and more accurate estimates.
Issued also on microfiche from University Microfilms Inc.
Includes bibliographical references: pages 178-184.