Feasibility Study of the Real Estate Development Project Based on Application of the Value Engineering

摘要

With the huge impact on the global real estate market from the current economic crisis, investors are more cautious in the investment on real estate than ever before, so the feasibility study of the real estate development project shows more importance. Feasibility study of the project is not only the basis of the project investment decision-making and the preparation of task document design, impacting directly on the implementation of the whole project in late stages, but also the vital basis of the project financing. In order to enhance the accuracy of the feasibility study, this paper has lead into the ideas of value engineering in the stage of feasibility study, and it has conducted the value engineering analysis by using the analytic hierarchy process (AHP) as the main method combined with the value coefficient method with practical examples. The analytic hierarchy process (AHP) can solve the mutual restriction of the costs and functions in the value engineering, and then supplemented by quantitative method the value coefficient method, it can make value engineering more pervasive in the analysis of the feasibility study of the real estate development projects, thereby enhancing the accuracy of the feasibility study, providing a more accurate and credible basis for the project investment decision-making and design.