The project is being realised jointly with the e7 Market Solution Ltd. within the "Building of Tomorrow Plus" scheme, one of the Federal Ministry of Transport, Innovation and Technology’s research and technology programmes.
The aim of this project is the development of a real estate portfolio management tool, which assists in the decision-finding process involved in the renovation of period buildings (constructed during the period of rapid industrial expansion from 1850-1914).
The tool is comprised of a database containing technical and socio-economic data for a portfolio of buildings as well as a decision support tool which assists in making investment decisions by calculating index figures which refer to the amortization rates of investments and possible funding through government subsidised renovation schemes.
This tool aids in the documentation of economic and technical building data as well as so called “soft parameters” and provides a means to estimate a buildings future economic potential when considering renovation. The main aim is to develop a tool that enables a quick comparison of the economic potential of possible renovation measures, in order to expedite the decision making process.
The support tool will contain decision trees and paths and will enable quick comparison of economic alternatives and will present results in form of easily applicable check lists and guides.
Description of actual services provided by the staff within the assignment:
VIENNA ENGINEERS task is to define the selection of criteria that are relevant for the investment decision process as well as for the development of mathematical models to calculate index figures that represent the building’s economic potential.
These mathematical models are then incorporated into a software prototype, consisting of an SQL-based database application as well as a decision support application which performs calculations using the existing database.
To aid the transfer of existing building data into the database, the projects also aims to develop interfaces for the most widely used types of property management software. Another important aspect of the software to be developed is a dynamic nature that allows for alterations and adaptations in the relevant criteria (e.g. due to changes in the requirements for governmental subsidisation schemes).