Building of investment decision support system for owner of construction project in China

Budget overrun has always been a severe problem in construction projects in China, which hampers the increase of project investment benefit. The two main reasons is the development of IDSS (investment decision support system) in China still stays in the conception-proposed stage and managerial staff lack of scientific decision-making thoughts and methods. Based on the current working procedure construction project, the accuracy of budget estimate, influences of investment schedule, operation and management mode and external interference factors on actual project investment (IS) during construction period are analyzed and the IDSS is established which taking project investment profit maximization as the target from the standpoint of project owner. According to the working procedure of construction project, IDSS is divided into 2 stages: construction prior-period stage (the 1st stage) and construction preparation and construction stage (the 2nd stage). Each stage is composed of independent subsystems to satisfy specific requirements of different tasks, and each subsystem has correspondingly control procedure. Subsequently, a mathematic model for IDSS is proposed to provide the owner with control action rules and control measures for general projects or individual control method for independent subsystem to improve the investment benefit of the total system. Having been applied to actual construction projects, it is proved this system is scientific and effective on the investment control of project for owner.