Investigate Strategies for Maximizing the Return on Investment in Construction Projects and Predicting their Viability

Abstract

Uncertainty regarding technology, money, and development methods makes the building industry fundamentally unpredictable. Nowadays, building projects are significantly more difficult and complex. Surprisingly, the whole project team is coping with these new and diverse issues. Examining a project's performance and identifying areas for improvement is one strategy to raise its profitability. On the other hand, construction industry specialists still lack a precise definition of project performance or improvement strategies. Every firm must be profitable in order to succeed and remain competitive in the market. Profitability also implies cost-cutting. The majority of contractors fail to manage this strategic problem systematically and effectively or to examine its impact on project profitability, despite the fact that doing so might provide them with a competitive advantage in the market. So, the goal of this research is to determine which variables influence project profitability, how to improve performance using lean construction tools and concepts, and how to make the most use of the project's resources. We anticipate the study's results will reveal patterns in the primary performance criteria used to forecast project profitability. We might use these findings to launch profitable and productive companies.