Uncertainty factors in construction branch: classification and analysis of their influence on construction projects

Abstract

Purpose: The article is devoted to the study of economic essence and specifics of the impact of uncertainty on the efficiency of construction projects. Discussion: Under the assumption that the factors of uncertainty in construction have a sharply fluctuating nature, the author concluded that the unresolved scientific task is, firstly, creation of their universal systematic classification, and secondly, the study of their influence on the development of construction projects. It will allow to solve specific tasks in construction project management, ensuring correct and economically justified calculation of indicators of their efficiency. The significance of the scientific analysis of the impact of uncertainties on construction projects is determined by the fact that their implementation is connected with the uncertainty of economic conditions and market volatility. Results: The article provides a conceptual model of multilevel influence of uncertainties on construction projects under stochastic nature of the market economy. The paper also defines the criteria for classification and presents the author's scheme, systematizing uncertainties in the construction industry.