The practical use of Monte Carlo Method in the Regional management within the construction industry in Albania


Albania as a country Construction strive to develop new business segments in the national market as a result of construction activity in Albania regressive. All these factors require the installation of an efficient system of risk management for the company’s capital. Although shortages in case of risk management are identifiable in the construction industry in Albania this situation is the position for a regional market such as Albania Implementation of a risk analysis tool to assess the project construction tender. And the end result is a risk management contribute to a national project contractor based on risk assessment. Risks to national construction projects are presented in a practical viewpoint and action alternatives.
By means of this method we will see how we can: Analyze the “best and worst” scenarios analysis that examines thousands per second fast gaining knowledge and save yourself time. We go beyond the optimization of simulation to use more powerful optimizations, such as stochastic programming, through which we analyze the business model in the future “wait and see”, decisions that can not even be determined in competitive products.
It certainly may seem and as a method not very fair given that we have a lack of human resources in this field, but since this is a method that is widely used by foreign investors, especially when they want to enter the bidding in states other where the risk is much higher.
The model takes into account the risk substantially, and then the elements that determine the cost of a project. Mainly in Albania pays attention fixed costs such as salaries of employees, direct and indirect materials, and building construction site management.
We will see you then risk identification and analysis, calculation and what is the main monitoring until the end of work. This gives the company the opportunity to have more information and more accurate profit that will result from winning a tender. This brings the possibility of creating a portfolio that minimizes risk of tenders.
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