1.
Economic and financial feasibility analysis of
projects
Decision-making processes for infrastructure and
construction projects involve a set of steps and tools that
allow strategic decisions to be made in the planning phase.
This is a complex and uncertain area that involves many
distinct technical areas, such as the ability to estimate
life-cycle costs (Monteiro et al., 2021), estimate revenues
(Cruz and Sarmento, 2019), direct and indirect impacts of
projects (Januário et al., 2021; Cruz et al., 2017). The
fields of application are also diverse, from the analysis of
greenfield projects, that is, construction of new projects
whether public infrastructures (for example: water supply
system, bridge) or private real estate developments (for
example, a new commercial building), but also rehabilitation
projects (feasibility analysis).
Objectives of our research: To understand
and predict the costs of projects in contexts of
uncertainty; to carry out whole life cost analyses that
incorporate the intangible benefits; Contribute to improve
the decision-making process in engineering projects; use
advanced data analytics to improve decision processes.
Specific topics and areas:
- Feasibility and cost-benefit analyses
- Multicriteria analysis
- Lifecycle costs and costing models
-
Risk and uncertainty analysis in cost and revenue modeling
2.
Planning, management and contracting of projects
State of the art: The problem of
contracting projects can be summarized in the search for
models and contracting options that ensure the achievement
of the most valuable proposal, minimizing the risks of
non-compliance. At this level, the candidate has developed
some research in order to identify what impacts, for
example, changes in the public procurement code have on the
level of the proper execution of contracts (for example, on
the level of compliance with budgets and deadlines)
(Catalão, Cruz and Sarmento, 2019a, 2019b). Regarding
infrastructure management models, all models and options
related to the ownership and responsibility of
infrastructure construction and maintenance are considered.
These models that, in the past, were essentially based on
contract construction and direct asset management, have
moved to more complex models, with variable configurations,
in which different agents (private and public), can build
and manage directly, or delegate this responsibility to
third parties (Cruz and Sarmento, 2019). The increasing
outsourcing of maintenance activities has created challenges
from the point of view of contingency design, in the long
term, and in a regime of significant uncertainty. This is a
vital research area, not only from the point of view of
teaching, but also to ensure research know-how that can be
capitalised on in connection with industry. This is not the
area with the greatest scientific results of the candidate,
but it is probably the one that has attracted the most
external visibility (in society).
Objectives of our research: How to improve
the contracting processes of engineering works reducing the
probability and impact of cost and time deviations? How to
increase the efficiency and effectiveness of the contract
formation process in engineering projects? What are the main
determinants of cost and time deviations? How to make asset
management more efficient? How to improve project
productivity through digital integration? How to design
long-term maintenance contracts and integrated asset
management? What steps and tasks can be outsourced through
outsourcing? How to extract benefits from the wave of
digitalization from the perspective of the built
environment?
Specific topics and areas:
- Public procurement models
- Analysis of deviations from costs and deadlines
- Management template options
- Asset Management
- Digitalization and smart cities
3.
Contracting of projects through public-private
partnerships
State of the art: The PPP contracting
model is unavoidable in the universe of public
infrastructures, for various reasons, whether in developed
economies or emerging economies. On a global scale, the use
of the model has grown, and so has academic interest. There
are several topics of great interest within PPPs, however,
it takes particular prominence, the aspects related to risk
sharing and contract structuring, public sector comparator
and decision process, and, more recently, the renegotiations
of contracts, which is perhaps one of the topics where the
candidate has the largest number of scientific articles, and
is among the dozen world authors with the most relevant
contributions. This will also be a very relevant topic to
explore a strategy of internationalization of the service
delivery component.
Objectives of our research: How to increase
the efficiency and effectiveness (value for money) of
contracting engineering projects using PPPs? How to improve
the performance of long-term contracts in contexts of
increasing uncertainty? How to adapt models focused on the
construction of new projects to models focused on their
maintenance and conservation?
Specific topics and areas:
- Contract design and management
-
Renegotiations of construction and O&M contracts in
engineering projects
- Flexible contracts
4.
Analysis of the construction and rehabilitation market
State of the art: This area of research is
intended to ensure that, in such a pressing and priority
matter, such as rehabilitation, there is know-how that
ensures an adequate level of scientific performance in this
subject. Thus, although the priority has been the
development of master's dissertations, scientific articles
have already been produced, one of which was distinguished
with the André Jordan Prize in Real Estate Economics. The
subject of real estate economics is broad, but of vital
importance in the Construction and Civil Engineering sector.
This importance has been exacerbated in recent years, due to
the economic cycle experienced in this sector. Despite this
conjunctural relevance, the candidate is of the opinion that
this topic should deserve permanent attention within a
research group in Civil Engineering and, in particular, in
the area of Construction. Thus, a significant effort has
been made to leverage this area, and it has been possible to
create, very recently, critical mass at the level of PhD
students, which will ensure that in the short-medium term,
the scientific outputs will be visible, which is not yet the
case at the time of writing this report. Among the various
themes that converge in the real estate economy, it is worth
mentioning the aspects related to the pricing models that
will be described below.
Objectives of our research: What are the
challenges, at each moment, of the construction sector in
Portugal? How to evaluate rehabilitation projects? What are
the risks and externalities involved in rehabilitation
projects? What determines the dynamics of the real estate
market (in the short, medium and long term)? What is the
impact from the perspective of the construction sector? How
to develop smarter, automatic, and reliable real estate
valuation models?
Specific topics and areas:
- Rehabilitation models and policies
- Externalities in rehabilitation
- Economic evaluation of rehabilitation projects
- Market behavior
- Determinants of the value of the real estate market
- Mass appraisal models