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Investigation of the Adoption of Building Commissioning Practices in the Installation of Building Services Items

Commissioning: A Performance Based Approach to Commissioning Mechanical Systems. Proceedings, 1st Annual Building Commissioning Association’s Tools and Technology Expo, BCA, Austin, USA. Mills, E. (2011). Building Commissioning: A Golden Opportunity for Reducing Energy Costs and Greenhouse Gas Emissions in the United States. Energy E ffi ciency, 4 (2), 145–173. https://doi.org/10.1007/s12053-011-9116-8 National Environmental Balancing Bureau (2019). NEBB/ANSI Standard 110 Whole Balancing Technical Commissioning of New Construction, Building Systems

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Analysis of Quantitative Methods of Risk Assessment and Selection of Optimal Method Using Venture Investment in Innovative Projects in Construction

Abstract

One of the main factors that constrains using of venture investment in innovative projects in the field of construction is high risk of this type of investment. Thus, the problem of risk assessment is relevant in the venture investment of innovative projects. First of all, it should be noted that the risks in the construction industry have considerable specificity and heterogeneity. Real options approach is an important tool with venture investment at all stages. It can be widely used in innovative projects in construction for accurate risk assessment.

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Foreign Direct Investment and Special Economic Zones in Latvia

Abstract

The paper aims at providing insight into the effectiveness of Latvian special economic zones (SEZ) as a tool to attract foreign direct investment (FDI). The goal is accomplished through the statistical analysis of relevant data and the comparison with international examples to establish a point of reference. Countries of comparison are chosen by merit, in the form of widely acknowledged success stories regarding SEZ policy, and relative statistical similarity. The wider the pool of examples, the more conclusions can be drawn about the effectiveness of SEZ in various metrics. Based on the results, Latvian special economic zones have significantly underperformed when compared to every single example on the list. Research has been approbated in the Riga Technical University 58th International Scientific Conference “Scientific Conference on Economics and Entrepreneurship” (SCEE’2017).

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Online Marketing Issues of Real Estate Companies: A Case of Latvia

Abstract

Today online marketing has become an integral part of marketing mix. Potential real estate customers prefer to make online research themselves. Therefore, real estate companies should be ready that search engines, corporate web pages, profiles on social media sites should strengthen the image of real estate companies and ensure better communication with customers. The aim of this paper is to explore results of qualitative research regarding real estate online marketing activities. It has been found that real estate companies’ web sites provide customers with qualitative information. Some companies offer online communication experience. Several companies have created their profiles on Facebook and Twitter but not all of them use social media in an appropriate way. Real estate companies should learn how to use online marketing tools more effectively.

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Digital methods of real estate asset lifecycle management

Abstract

Contemporary scientific research and practical experience in the field of investment and construction projects management prove advisability of planning management processes, including key directions such as scope, time and cost management throughout the lifecycle of a real estate asset. Under conditions of construction industry integration into digital environment and active search for innovative and high-tech ways of development, an urgent issue is to select effective digital methods and tools that correspond to each phase of real estate asset lifecycle and ensure interests of each participant of investment and construction project. The aim of the article is to investigate the digital methods of real estate asset lifecycle management. Through methods of analysis and systematization, the authors of the article have identified that internationally known software producers as well as the scientific community and some representatives of construction industry acknowledge the effectiveness of the currently relevant information modelling technologies (BIM); however, full implementation of BIM technologies in Russia is mainly restrained by low interest from most participants of investment and construction projects. Therefore, by applying methods of comparative analysis and statistical assessments, reported effects of BIM implementation, according to the international experience, have been compared with actual results received by Russian companies, which actively use information modelling technologies. In addition, systematization of modern digital methods and tools for real estate assets management in correspondence with aims of each phase of their lifecycle has been carried out within the framework of the research. As a result, factors for encouragement of BIM implementation based on the principles of public-private partnership have been formulated and, in conclusion, respective stimulation measures proposed.

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Measuring the Value of the Assets of the Monument Building When Assessing the Insured Value of an Object

Abstract

The forthcoming transfer of St. Isaac’s Cathedral in St. Petersburg being a UNESCO World Heritage Site to the Russian Orthodox Church ignites a heated debate within the Russian society. The cathedral being part of the State Museum Complex stands out as a pearl of the world’s iconic architecture. Furthermore, it is the second most visited museum after the Hermitage, boasts an outstanding exhibition potential, and it regularly hosts church services and ritual events. Museum collections exceed twenty-four thousand items of storage, and they continue to be replenished with found rarities and newly restored objects with the status of a relic to be protected. The aim of the article is to measure the value of the assets of the monument building, assessing the insured value of the object. Uncertainty of the future use of the disputed object, however, allows us to consider the calculation capabilities and methodical tools of valuation activities to measure the market and insurance value of such a real estate object and land plot, for example, in order to practice damage compensation and transfer the object from the balance sheet of one owner to balance of another owner. The latter circumstance determines the main discourse of this study. The present article is devoted to questions of an expert estimation of the insured value of the object of research in the form of St. Isaac’s Cathedral. The article is a continuation of a series of previously published works by the author.

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Greenest Capital of the Baltic States – A Spatial Comparison of Greenery

Abstract

The meaning of the term “green city” today is more related to sustainability rather than to vegetation or greenery. Therefore, the aim of this research is not to develop another complex green index, but simply to calculate and compare a share of greenery among functional urban areas of three Baltic capitals. Comparison was done using GIS tools and analysing Urban Atlas, CORINE and degree of soil sealing datasets. Although the results of Urban Atlas and CORINE datasets showed slight disagreement, it has been discovered that Tallinn has the highest share of greenery, Vilnius is in the middle and Riga is the last. Analysis of 1990, 2000, 2006 and 2012 CORINE datasets showed the highest relative decrease of greenery in Riga (2.53 %) over time, Tallinn was the second (1.44 %) and the smallest decrease (0.53 %) was in Vilnius. The analysis of degree of soil sealing demonstrated the highest relative share of pervious surfaces in Tallinn (95.5 %) and the smallest share in Vilnius (92.1 %), therefore this research nominates Tallinn as the greenest (literally) capital of the Baltic States.

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Enterprise Risk Management in Kosovo’s Banking Sector

Abstract

Today risk management plays a vital role in business. Each firm, whether big or small, makes an effort to manage risk more effectively. Risk management is very important in the financial system, especially in banks. Billions of Euros are spent each year on the financial reporting of banks. Banks should implement effective solutions in risk management to mitigate their risks. Great financial debate that originated in the 1990s is reportedly linked to errors that occurred in the banking sector due to poor risk management. It should be noted that today technology plays a key role in risk management and it has already had a positive effect on the financial industry. Analysis of risk and its management has become significant in the Kosovo economy since the post-war period. The nature of the banking business is threatened by risks because more financial products are becoming complicated. The main role of banks is intermediation between those who have resources and those seeking them. Banks face various risks at the corporate level, such as operational, liquidity, legal, credit, and market risks; thus, these risks should be converted into a composite measure. This research aims to determine practices and effects of risk management in the banking sector. Relevant data were collected from banks through questionnaires and telephone interviews; analysis has been conducted using statistical tools. This study will engage both the quantitative and qualitative methods of data analysis. Dependent variables will be separated from independent variables, and regression analysis will be used to analyse the quantitative data.

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Case Study of Standard Multi-Storey Residential Building Owners and Tenants’ Perception of Building Technical Conditions and Renovation Issues

References Abdulai, R. T., Obeng-Odoom, F., Ochieng, E., & Maliene, V. (Eds.). (2016). Real Estate, Construction and Economic Development in Emerging Market Economies. Routledge Studies in International Real Estate. New York, NY: Routledge, 404 p. Ali, H. H. & Nsairat S. F. A. (2009). Developing a green building assessment tool for developing countries - Case of Jordan. Building and Environment, 44(5), 1053-1064 https://doi.org/10.1016/j.buildenv.2008.07.015 Central Statistical Bureau of Latvia [Latvijas

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Risk Taking of Life Insurance Companies from the Perspective of Senior Managers and Experts

papers on risk and insurance-issues and practice, 36(3), 414-439. https://doi.org/10.1057/gpp.2011.11 Baker, T., & Simon, J. (2010). Embracing risk: The changing culture of insurance and responsibility: University of Chicago Press. Calomiris, C. W., & Jaremski, M. S. (2016). Stealing deposits: deposit insurance, risk-taking and the removal of market discipline in early 20th century banks: National Bureau of Economic Research. https://doi.org/10.3386/w22692 Chapman, R. J. (2011). Simple tools and techniques for enterprise

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