Identification Of Opportunities For Decision Making In Real Estate Development Enterprise Development Projects

Project development decision of real estate development enterprise has highlighted theimportance for the real estate enterprises; and in order to make decisions well in the field of realestate, a key, lies in the opportunity recognition. Opportunity recognition in decisions of projectdevelopment for enterprises engaged in real estate development is focused in this paper, and isdiscussed comprehensively and deeply， and the overall thought and specific method foridentification of the project development opportunities are put forward.In the introduction part, the main contents are from the perspective of various influencingfactors coming from the environment changes towards enterprises engaged in real estate, anddiscuss the importance of identifying opportunities for real estate development enterprises.In the part of the basis of theory and literature review, from some theories like thecompetitive strategy theory, project management theory, complexity theory, multi-dimensiontheory, entrepreneurship theory, innovation theory, the theory of economic cycle, opportunismtheory,the paper reviews the theoretical basis for opportunity recognition. Especially emphasizedor summarized the complexity theory, multi-dimension theory, innovation theory; in the part ofmulti-dimension theory, this paper argues that any factors would act on the object, and that objectwould generate new attributes or make the original attributes changes, so in the aspect ofunderstanding the real estate project development opportunities, important theoretical guidancesare provided; in the part of innovation theory, this paper summarizes, from the way of thinkingperspective, the ultimate source of innovation lies in criticism towards all rational things, whichalso provide important help to identify opportunities.In the part of researching characters of opportunities recognition in the real estatedevelopment decision,the paper make a more detailed analysis of the connotation, the generalproperties of the opportunity, sources and ways, contents and types, influencing factors, so as toestablish a comprehensive, detailed understanding of various properties or characteristics of theopportunities recognition in the real estate project development decisions.In the part of the real estate development decision’s process mechanism of recognition, thispaper researches the opportunity recognition subjects and organizations among subjects, searchingof opportunities, evaluations of opportunities, development of opportunities, management of trapsof chances. The innovations of this part mainly include: the persons charging for identification are not limited to decision makers, and should be extended to all project related persons; traps areinevitable and analyze their causes.In the part of empirical research, this paper analyzes the relationships between the13factorsof chance and the success of real estate projects, and through econometric analysis, find thatcustomers demands for specific regional real estate projects, cost-effective products,macroeconomic factors are most important factors for the success of the project; and give aconcept of project opportunity identification index. In this paper, a measurement equation isestablished, so for the opportunity recognition of project development decision-making, provides aquantitative tool.This paper argues that the recognition of opportunity in the areas of real estate developmentor investment decisions is an important problem, and whose importances and values of researchand practice will continue to get more agreements.