The importance of the formation and development of the life cycle cost assessment methodology in the Russian economy is determined by the need to supplement the practice of valuation activity with its new variety — assessment of the life cycles of goods, works, services or systems of a technical or production-economic nature. The analysis showed that in the valuation activity it is necessary to use not only traditional types of values, such as market, liquidation, investment and cadastral, but also a new type of value — life cycle assessment for total costs, estimation of cost of ownership, as well as assessment of the value of contracts for life cycles. The actualization of the life cycle value assessment as a special type of valuation activity is associated with the development of the global economic trend of managing goods based on their presentation as life cycles. Summing up the value of the goods in exchange with their value in use, it is possible at a certain period of ownership to obtain the integral value of the cost of the life cycle or cost of ownership. The aim of the study is to summarize the domestic experience and features of its development in relation to the use of the methodology for assessing the cost of life cycles as a special direction of valuation activity in the Russian economy, taking into account the review of foreign analysis in this area. The research methods were used in the form of a set of interrelated methodological approaches based on expert assessments, retrospective analysis, forecasting, comparative, cost and income assessment methodologies, economic and mathematical modeling, as well as logical, technical, economic and situational analysis. The article summarizes the results in the field of the genesis of valuation activity in the domestic economy regarding the cost modeling of life cycles, highlighting the main stages of their development. A review of the main existing methods for estimating total costs is given and their characteristics are given. Shown excursion assessment in a foreign economy. Debatable questions of the methodical modeling of the valuation of life cycles and life cycle contracts have been disassembled and highlighted
Author page: Kirill Kulakov
The article examines the subject of research, focused on the study of economic and organizational relations and processes associated with the management of the investment value of land for residential development of the territory at the stage of land development based on the application of public-private partnership models. The relevance of this problem is related to the importance of solving the goal of increasing the commissioning of housing according to the message of the President of the Russian Federation to the Federal Assembly of 2018, which provides strategic plans for the transition from an average annual input of 80 to 120 million square meters. This is possible only through the use of economic tools for forecasting and managing the investment value of land. The purpose of the study is to develop conceptual theoretical and methodological and practical models for assessing and managing the investment value of land plots at the stage of land development in relation to housing construction with the priority of integrated development of territories on the basis of optimization of public-private partnership. As the applied research methods, a set of systemically interconnected methodological approaches based on the application of the theory of appraisal activity, economic and mathematical modeling, technical and economic, logical analysis, as well as the theory of risks, expert assessments, situational analysis and forecasting were used. The article shows both the author’s methodology and the results obtained that allow to simulate the management processes of the investment value of projects of the complex residential development of the territory to transfer it from negative to positive. Such management decisions are recommended to be carried out on the basis of the multivariate parameters of public-private partnership in relation to the performance of technical conditions, the volume of participation in social facilities, the transport and engineering infrastructure of construction. Ultimately, the article demonstrates the value of the completed studies both from the standpoint of the development of theory and methodology in the field of valuation theory applied to the category of “investment value”, and for the scientific and practical development of public-private partnership processes in the field of managing the increase in housing commissioning for corporate investment management and bodies of state and municipal management.
The investor and the developer can decide to participate in the complex residential development project only if the assessment of the investment value of such land plot shows its high economic attractiveness. As a methodological basis for calculating the investment value of a land plot for integrated residential development, it is proposed to use a revenue approach, and within it — the method of the proposed use of a land plot. The article suggests a technique for modeling the investment value of land plots for integrated residential development, which includes 12 stages. To implement this methodology at the level of corporate management of investors, developers and developers, and for the purposes of state municipal land management, an appropriate application algorithm has been proposed.
Improved methodology of state cadastral valuation, absence of frequent revision of its results in the future – one of the key components of developing investment strategies in real estate and construction markets. Kirill Y.Kulakov, the first deputy general director of the Center for Property Independent Expertise, a member of the Council on evaluation activities at the Ministry of Economic Development of Russia, the MGSU professor, doctor of economic sciences, FRICS, in his interview with “ES” magazine told about these, as well as other large-scale legislative innovations in the sphere of assessment activities.
In his interview with the “ES” magazine Kirill Kulakov, the First Deputy General Director of “Center for Independent property expertise” (CIPE), doctor of economic sciences, MGSU professor told about the specific aspects of appraisal activities in Crimea. Special attention according to K. Kulakov should be paid to professional appraisers training system — it is necessary to develop new educational programs, “it’s requirement of time associated with legislation changes, with development of new methods, information technology”.
The situation formed in the National Council of valuation activities (NCVA), in fact, represents the split of valuation community.
If for one particular company 20 years — a huge period, for the whole industry it is rather the formation period with its inherent problems of growth and professional recognition.
No significant increase in quality of appraisal services after the introduction of the qualifying examination is expected.