Publications relevant to the economic management of housing projects (quantitative studies)
| No | Author(s) | Goal of the study | Results/Impacts | Implications | Behavioural or economic-financial quantities |
|---|---|---|---|---|---|
| 1 | Ahmed et al. (2022) | This study investigates the effectiveness of participatory design tools for young women in the United Arab Emirates, using a questionnaire to compare conventional tools (drawings) with advanced VR tools in assessing housing designs | The main measurable outcome is a shift in satisfaction responses. In some cases, VR transformed positive responses into neutrality or dissatisfaction compared to traditional drawings. This heightened perceptual accuracy suggests that VR can improve the precision of pre-occupancy analysis and make the design process more efficient, potentially shortening design time | Advanced VR tools have proven effective in the pre-occupancy assessment process of homes, but they involve significant costs and resources, impacting the project’s overall budget. A “hybrid” solution that combines the use of VR with conventional tools could represent a valid alternative to keep both costs and implementation times under control | Level of satisfaction |
| 2 | Fu et al. (2004) | Implementation of a BIM-based life cycle cost estimation tool with 3D virtual reality view | The study suggests that adopting the proposed tool could improve the accuracy of budget forecasts, contributing to the full absorption of spending overruns, which typically exceed 50% and affect about 75% of government projects | Implementing advanced BIM tools with 3D virtual reality visualisation can improve life cycle cost (LCC) estimation and financial management of construction projects, helping to reduce significant budget overruns and promoting more efficient use of economic resources in the construction industry | Life Cycle Costs (LCC) |
| 3 | Salvo et al. (2022) | Examine the adoption of BIM and Industry 4.0 technologies (digitisation, smart building, virtual reality) in the real estate sector to improve management and cost optimisation | Adopting technologies like BIM and VR for smart building redevelopment enables precise cost estimation, optimizes financial management, and supports Highest and Best Use (HBU), potentially increasing property value by 7–11% through energy and operational efficiency | The implementation of Industry 4.0 tools in redevelopment projects facilitates the economic decision-making process, and maximizing the return on investment | Construction Costs; market value |
| 4 | Soliman-Junior et al. (2022) | Through a living lab approach, examine the use of VR and AR during the retrofit of social housing and evaluate their impact on the value generated | The study highlights that the use of collaborative tools such as Virtual Reality (VR) and “value cards” (cards for prioritizing user values) in living labs for social housing retrofit projects improved requirement gathering, enabling real-time design adjustments and thus reducing inefficiencies | This approach can reduce costs resulting from post-design changes and ensure more efficient use of the project budget through an early understanding of user needs | Perceived value |
| 5 | Wang and Tung (2023) | Developing a BIM-VR system for the design and cost estimation of changes during house construction | In the case study, the choice of materials resulted in cost variations of up to 15% compared to the initial budget, reducing update times from 7–14 days to a few minutes | The study shows that integrating BIM and VR in home customization reduces errors and cost update times, optimizes decision-making, and improves economic control, making financial project management more efficient and budget-compliant | Construction Costs |
| 6 | Xiao (2014) | Study of the application of 3D/VR GIS visualisation techniques for reducing time costs in data analysis | The results show that using the proposed algorithm to visualize the real scene leads to a reduction in the time required for rendering | The proposed algorithm reduces the analysis time of geographic data in 3D/VR environments, implying a potential reduction in operating costs in construction projects requiring detailed 3D representations | Data analysis time |
| No | Author(s) | Goal of the study | Results/Impacts | Implications | Behavioural or economic-financial quantities |
|---|---|---|---|---|---|
| 1 | This study investigates the effectiveness of participatory design tools for young women in the United Arab Emirates, using a questionnaire to compare conventional tools (drawings) with advanced VR tools in assessing housing designs | The main measurable outcome is a shift in satisfaction responses. In some cases, VR transformed positive responses into neutrality or dissatisfaction compared to traditional drawings. This heightened perceptual accuracy suggests that VR can improve the precision of pre-occupancy analysis and make the design process more efficient, potentially shortening design time | Advanced VR tools have proven effective in the pre-occupancy assessment process of homes, but they involve significant costs and resources, impacting the project’s overall budget. A “hybrid” solution that combines the use of VR with conventional tools could represent a valid alternative to keep both costs and implementation times under control | Level of satisfaction | |
| 2 | Implementation of a BIM-based life cycle cost estimation tool with 3D virtual reality view | The study suggests that adopting the proposed tool could improve the accuracy of budget forecasts, contributing to the full absorption of spending overruns, which typically exceed 50% and affect about 75% of government projects | Implementing advanced BIM tools with 3D virtual reality visualisation can improve life cycle cost (LCC) estimation and financial management of construction projects, helping to reduce significant budget overruns and promoting more efficient use of economic resources in the construction industry | Life Cycle Costs (LCC) | |
| 3 | Examine the adoption of BIM and Industry 4.0 technologies (digitisation, smart building, virtual reality) in the real estate sector to improve management and cost optimisation | Adopting technologies like BIM and VR for smart building redevelopment enables precise cost estimation, optimizes financial management, and supports Highest and Best Use (HBU), potentially increasing property value by 7–11% through energy and operational efficiency | The implementation of Industry 4.0 tools in redevelopment projects facilitates the economic decision-making process, and maximizing the return on investment | Construction Costs; market value | |
| 4 | Through a living lab approach, examine the use of VR and AR during the retrofit of social housing and evaluate their impact on the value generated | The study highlights that the use of collaborative tools such as Virtual Reality (VR) and “value cards” (cards for prioritizing user values) in living labs for social housing retrofit projects improved requirement gathering, enabling real-time design adjustments and thus reducing inefficiencies | This approach can reduce costs resulting from post-design changes and ensure more efficient use of the project budget through an early understanding of user needs | Perceived value | |
| 5 | Developing a BIM-VR system for the design and cost estimation of changes during house construction | In the case study, the choice of materials resulted in cost variations of up to 15% compared to the initial budget, reducing update times from 7–14 days to a few minutes | The study shows that integrating BIM and VR in home customization reduces errors and cost update times, optimizes decision-making, and improves economic control, making financial project management more efficient and budget-compliant | Construction Costs | |
| 6 | Study of the application of 3D/VR GIS visualisation techniques for reducing time costs in data analysis | The results show that using the proposed algorithm to visualize the real scene leads to a reduction in the time required for rendering | The proposed algorithm reduces the analysis time of geographic data in 3D/VR environments, implying a potential reduction in operating costs in construction projects requiring detailed 3D representations | Data analysis time |
Source(s): Authors’ own creation/work
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