房地产可行性研究外文文献及翻译

毕业设计附件外文文献翻译：原文+译文文献出处: Mender G. The research of commercial real estate investment risk and protection [J]. International Journal of Production Economics, 2016, 2(3): 32-41.原文The research of commercial real estate investment risk and protectionMender GAbstractCommercial real estate investment risk is significantly greater than the residential real estate investment, commercial real estate investment because of its characteristics, its development and the success or failure will have significant influence on the development of investment enterprises. sometimes have adverse consequences on the development of social economy. Many developers in the transformation of commercial real estate investment at the same time, due to the lack of judgment of commercial real estate investment risk, the risk of sudden loss what to do. Therefore, for commercial real estate investment risk evaluation research has important practical significance.Keywords: commercial real estate, risk management, risk assessment and prevention 1 IntroductionTraditional residential real estate investment market competition and regulation of national macro policy field of commercial real estate investment has become a new hot spot, many real estate developers have shifted from traditional residential investment to commercial real estate investment. Although the commercial real estate investment profits, but commercial real estate investment is a comprehensive, professional and technical strong investment activity, is also a high investment, high risk investment process. Determines the characteristics of commercial real estate investment amount, investment cycle is long, large cash ability is poor, both in the process of investment risk management risk, construction risk and other tangible andintangible risk such as policy changes. Therefore, the commercial real estate investment risk evaluation, make investors in the process of commercial real estate investment activities effectively guard against and evade risk is of great significance. The current commercial real estate investment has entered a rapid development of the "golden age", but at the same time cost of investment growth too fast, the scale of investment sprawl, formats form repeat and other uncertain risk factors. Therefore, in this paper, starting from the actual situation of commercial real estate investment, scientific and rational recognition problem encountered in the process of commercial real estate investment risk make investors for the risk of investment decision-making reference. Therefore, this article research significance lies in: explore the index system of commercial real estate investment risk factors, the identification of commercial real estate investment risk, on the basis of various factors affecting choice grey fuzzy mathematics method, the quantitative and qualitative analysis, set up a kind of commercial real estate investment risk evaluation model has practical value, in order to good for investors in the process of commercial real estate investment risk management of scientific, reasonable and effective.2 Literature review2.1 Risk managementRisk management (risk management) originated in the United States. In 1953, the United States, one of gm's car factory in a big fire became the opportunity of the development of the risk management, when human steps in advancing science and technology, scientific and technological knowledge to create the miracle constantly also brings new problems at the same time, it is these new scientific and technological knowledge can produce the problem such as hazard or damage to the environment, therefore, when the problem in front, because of the impact of social, legal, and economic risk management gradually began to be management scientists study. Began a few companies in the United States the inside of the top leaders gradually realized the importance of risk management. In 1963, the enterprise risk management is paid attention to by the United States and Europe. After this risk management became an independent discipline, systematic and scientific. Pure risk management is to reducethe risk of a series of procedures, involves to the enterprise risk management objectives, risk identification and estimation, the selection of evaluation methods, the risk response, as well as to the risk monitor constantly check and correction plan. In recent years, with the risk management mode is gradually from the perspective of a single risk for the development of the comprehensive risk management. The advantage of comprehensive risk management is can greatly improve the quality of the risk - benefit analysis. Only in the establishment of a comprehensive risk to bear ability management system, can be real prediction and resist risk. A revolutionary technological appears on the current as risk abroad study, the emergence of various risk analysis methods such as standard deviation method, the expected profit and loss value decision, the risk-adjusted discount rate method, expected utility decision, etc. 2.2 Commercial real estate investment riskThe European and American countries in the 20th century of commercial real estate returns of about 10%, has not the focus of concern of the investment community. With low state of the economy in the past 20 years, the profit of commercial real estate has remained at about 9%, so it is also widely on the study of commercial real estate; the current commercial real estate research has formed a set of relatively complete theoretical system. And in commercial real estate investment risk research, scholars have done a lot of research; in the late 1980 s Clayton began in the United States real estate risk research. After entering the 90 s, due to the international real estate investment in general, compared too many countries the risk of real estate investment has become a research focus. As investors increasingly realize the importance of risk management, including Hyss think in the research of the theory of commercial real estate investment risk at the same time, but also to the practice of the application of risk management tools. Webb and Myer (2003) study shows that the profit of commercial real estate is sensitive to interest rates. Modern portfolio theory of Markowitz showed that diversification is a commercial real estate investment in the most commonly used risk management methods. To sum up, for commercial real estate investment risk research abroad has reached a relatively mature level, but most of the research data are based on the foreign real estate trust funds (REITs) data. Solack of REITs in China under the background of the data, it is only through data mining industry itself, and in combination with a large number of empirical analysis to study the unique economic system under the commercial real estate investment risk, to further perfect the theory of commercial real estate investment risks.3 Overview of commercial real estate investment3.1 Concept of commercial real estateReal estate can be divided into residential real estate and nonresidential real estate. "Commercial real estate" is relative to the "residential property", it is the combination of business and real estate, but is not the simple addition. So-called commercial Real Estate (Business Real Estate), it is to point to in the process of commercial Real Estate investment, the investment estimation, development planning, market positioning, the combination of the formats, investment promotion, sales and operations management as a whole process in order to the operation of the Real Estate development and Business. Various forms of commercial real estate, mainly including shopping mall, entertainment, shopping plaza, office buildings, commercial real estate professional markets, shops, hotels, hotels, shopping malls, wholesale markets, discount stores, factory outlets shops on the bottom floor and residential, etc. Most commercial real estate is to use an investor overall development project, and then to collect rent shops operating mode. In addition the common home base business and office buildings and other commercial real estate investment projects due to funding pressure will adopt the shop sales business model. No matter which kind of mode, the commercial real estate investment projects need enough attention in the operation and management of late. Commercial real estate investment is a comprehensive, professional and technical strong investment activity, is also a high input, high return and high risk investment process. Determines the characteristics of commercial real estate investment amount, investment cycle is long, large actability is poor, both in the process of investment risk management risk, construction risk and other tangible and intangible risk such as policy changes.3.2 Characteristics of the real estate investment3.2.1 The immobility of real estate investmentReal estate investment is to invest in land, the land development and building a kind of investment activities, because the land is fixed, so the real estate investment of land and buildings with regular sex. This feature is the basic real estate investment, so the investment for real estate investment decision-making is very important, once the decision-making errors will give investors and caused heavy losses.3.2.2 Density of real estate investment capitalThe real estate industry is a capital intensive industry, a real estate investment project, according to the size of the different, input costs millions to billions of dollars even. The characteristics of real estate investment are decided by its own investment process. Because this feature has the following points: high land costs. Land resources belong to the scarce resources, although the land area of 960 square kilometers, but due to the large population makes the per capita possession of land is still less. Land supply system also determines the costs of land's high-cost nature, location, good environment, the area of land nature price is expensive, the land belongs to the natural resources at the same time, must spend a lot of money to be the development and utilization, so that real estate investment high land costs. High building cost. With building management personnel, technical personnel and a large number of construction workers and a number of construction machinery are use a lot of building materials and supplies. Real estate funds used in building houses for private use only a tiny fraction of that most of the money by financing, so large amount of money to pay a high interest, so the cost of building is also high. Real estate transaction costs high. In real estate transactions involve the management departments and various sectors of the society also. Real estate transactions before the developer will need to pay hefty fees to the national related departments, advertising, public relations in the process of transaction cost and so on have greatly increased the real estate transaction costs3.2.3 Long cycles of real estate investmentReal estate investment in the line for a long period of time not only includes the construction of the entire project development cycle is long, also includes real estate investment payback period is long. The cycle of real estate investment goes through many links, from access to land, construction and development, property sales, untileventually recover all the investment funds and ultimately win profit is need a long time.3.2.4 The binding of real estate investmentReal estate investment should be carried out according to the requirements of city planning to the corresponding development, every city has a corresponding planning layout and functional partition, only obey these requirements, to investment projects will combine the macro social environment and micro economic benefits. Real estate investment itself has a high density of funds, and compared with the residential real estate investment "development - sell" pattern can immediately recover its investment and profit after sale, commercial real estate also need to invest a lot of money after the completion of the project development to ensure that the later business, therefore, commercial real estate investment not only requires a lot of money, and more long payback period of investment. Commercial real estate investors must have strong economic strength to ensure the funding needs of commercial real estate investment projects.4 Commercial real estate investment characteristics4.1 Large commercial real estate investment demandsReal estate investment itself has a high density of funds, and compared with the residential real estate investment "development - sell" pattern can immediately recover its investment and profit after sale, commercial real estate also need to invest a lot of money after the completion of the project development to ensure that the later business, therefore, commercial real estate investment not only requires a lot of money, and more long payback period of investment. Commercial real estate investors must have strong economic strength to ensure the funding needs of commercial real estate investment projects.4.2 High profitability of commercial real estate investmentCommercial real estate profits mainly on business income. The influence of the location, after the completion of business management, etc., will have an effect on income. At the same time, a mature operation, has a good brand effect of the rise of commercial real estate value can also be regarded as investment gains.4.3 Commercial real estate operation mode variedCommercial real estate in general is given priority to with lease or buy the store, at present most of the commercial real estate investment project is to use this model to reap the benefits. To the investors after their investment in the development of management or professional management team, creating shopping plaza, leisure, entertainment, catering food such as the combination of a variety of business operation mode.译文商业地产投资风险及防范Mender G摘要商业地产投资风险明显大于住宅地产投资，商业地产投资因为其自身特点，其开发的成败会对投资企业的发展造成重大的影响，有时还会对社会经济的发展产生不良的后果。

房产管理外文翻译文献编辑
本文探讨了房产管理的相关问题。

首先，作者介绍了房产管理的定义并提到它的重要性。

接着，介绍了房产管理在美国的发展历程。

然后，作者列举了目前美国房地产市场的主要问题，如房产泡沫、高昂的房价等。

最后，作者讨论了如何通过改革房产管理来解决这些问题，提出了一些具体的建议。

在探讨房产管理的定义时，作者强调了房产管理的重要性。

作者认为，房产管理不仅仅是房地产领域的一个概念，而是一项涉及到人们生活方方面面的重大工程。

因此，房产管理的成功与否直接关系到人们的生活质量和社会的稳定发展。

在介绍美国房产管理的发展历程时，作者提到了《美国房地产协会规范》的制定，这是美国第一部关于房地产行业的行为准则。

同时作者还介绍了房地产经纪人行业和房地产评估师行业的发展历程，这些都是美国房产管理发展历程中的重要组成部分。

接着，作者列举了美国房地产市场目前面临的主要问题，如房产泡沫、高昂的房价等。

通过分析这些问题的根源，作者认为建立
完善的房产管理制度是解决这些问题的根本出路。

并且，作者提出了一些具体的建议，如建立有效的监管机制、加强市场调节力度、改革土地使用制度等，旨在帮助改善当前的房产管理状况。

总之，本文揭示了房产管理的重要性以及美国房产管理的发展历程和现状。

作者通过分析目前美国房地产市场面临的主要问题并提出一些具体的改革建议，为我们提供了一个启示：建立完善的房产管理制度是解决房地产市场问题的关键。

房地产外文文献房地产是指特定地区土地及其上的建筑物或其他固定物的总称。

它是一个重要的经济领域，涉及到诸多方面，如投资、建筑、市场、政策等。

因此，在探讨房地产问题时，需要掌握一定的外文文献。

第一步：搜集相关外文文献在搜集外文文献时，建议使用学术搜索引擎，如Google Scholar 等。

按照关键词“Real estate”，可以检索到大量的相关文献，包括学术论文、报告、研究成果等。

第二步：阅读精选文献在众多文献中，需要挑选出一些重要的、具有代表性的文献，来深入了解房地产相关的问题。

比如，可以阅读以下两篇具有代表性的论文：1）Feng, L., & Sun, Q. (2016). Real estate and local government finance: Sustainability challenges in China. Journal of Cleaner Production, 112, 3974-3983.该文献分析了中国房地产与地方政府财政之间的密切关系，阐述了房地产泡沫对地方政府财政带来的影响。

同时，文章提出了对于中国可持续发展的建议。

2）Kok, N., & Leung, C. M. (2021). Short-term rental supply and residential house prices. Journal of Real Estate Finance and Economics, 62(1), 88-120.该论文利用美国市场的数据，探讨了短期租房对住房价格的影响。

结果表明，短期租房会提高住房价格，同时还会增加住房市场的不稳定性。

第三步：探究房地产问题在阅读精选文献之后，可以对房地产政策、投资等问题进行深入探究。

例如，在探究房地产政策时，可以重点关注政府在房地产市场中的干预作用；在探究房地产投资时，可以探讨各种不同的投资策略及其优劣。

总之，房地产是一个复杂的领域，需要系统地掌握相关知识和文献。

国外房地产可行性研究房地产行业一直以来都是各国经济发展的重要组成部分，对国内外投资者来说，国外房地产市场是一个备受关注的领域。

本文将对国外房地产可行性进行深入研究，并着重探讨其潜在机遇和挑战。

一、引言国外房地产市场是近年来备受关注的投资领域。

众所周知，不同国家的房地产市场具有差异化特点和不同的经济环境，因此进行可行性研究是了解风险与收益比的必要前提。

二、国外房地产市场潜在机遇1.经济增长潜力：一些发展中国家具备快速经济增长的条件，房地产市场可提供投资机会。

比如，亚洲国家如中国和印度，还有中东和非洲等地都有着相当大的发展潜力。

2.政策支持：很多国家为了吸引外资和促进经济发展，会出台一系列的优惠政策来鼓励外国投资者投资房地产市场。

这包括减税、提供土地使用权和其他激励措施。

3.人口增长：一些国家的人口增长迅速，这意味着对住房需求的增加，从而为房地产商提供了很好的发展机会。

三、国外房地产市场挑战1. 法律和政府政策：每个国家都有独特的法律体系和政府政策，对于外国投资者来说，了解并适应这些法律和政策是至关重要的。

2.文化差异：不同国家的文化差异会对房地产市场产生重要影响。

在开展国外投资时，要注意遵循当地的文化、习俗和社会规范。

3.汇率风险：国际投资涉及到不同货币之间的兑换，涉及到汇率的波动风险。

四、国外房地产投资策略1. 研究目标国家：对于投资者来说，了解目标国家的经济发展状况、政治稳定性、法律体系、人口结构等因素是至关重要的。

2.建立合作网络：在国外房地产投资中，建立合作伙伴关系是非常重要的，可以通过寻找当地中介机构或者专业团队来获取更多信息和支持。

3.风险管理：投资房地产市场必然涉及到风险，因此，建立科学的风险管理体系，控制投资风险至关重要。

五、结论国外房地产市场具备较高的投资潜力，但同时也面临着一系列的挑战。

作为投资者，在进行国外房地产投资时，需要综合考虑各种因素，合理制定投资策略，才能更好地把握市场机遇，降低投资风险。

第一章我国房地产市场现状和相关国家政策2.1 我国房地产市场的现状我国房地产市场的现状一直是国民关注的热点话题。

对于九十年代房地产以来的房地产市场，最为普遍的评价，就是房价过高，涨幅过快。

形成这种情况的原因是多方面的。

2.1.1当前我国房价普遍过高，上涨过快国际上衡量房价高低的一个权威指标是房价收入比。

房价收入比是指一个国家或城市的年平均上市房价与户年平均收入之比。

世界银行的研究报告认为，价收入比在3 倍到6 倍之间比较适当。

而在我国，有学者指出，在我国许多房地产热点城市，房价收入比早已超过了12：1。

并且，房地产市价日益飙升。

2.1.2中国城市房地产价格“非正常上升”的成因目前我国城市房地产价格非正常上升或者房地产价格泡沫的状况可作如下描述：(1) 全国城市的房价收入比约为1∶8, 其中大城市房价收入比在10以上, 而国际标准是3～6。

(2) 有些城市土地价格近十年来上涨了十几倍甚至几十倍。

至于形成这种局面的原因, 各界人士从市场需求、供给等多方面提出各自看法, 较有代表性的如下:1) 市场需要因素: 城市化效应形成的需求、城镇住房制度改革引致的需求、城镇居民住房人均面积上升等所致。

2) 市场供给因素: 不合理的住宅供应结构因素所致; 是商品房开发建设成本高所致;3) 投机、炒作因素: 是房地产商和投机者“操纵市场、恶意炒作”的结果;4) 银行信贷、房地产互动因素: 行为人预期、银行信贷以及政府政策在地产泡沫中起重要作用。

5) 制度、体制、利益集团等因素: 目前土地供给制度、地方政府税收制度、还有住房问题上财政政策和金融政策等制度问题是造成目前房地产价格不正常上升的制度性因素。

地方政府“经营城市”、地方政府的“托市”行为，推动房地产价格上升; “地方政府、开发商、银行都希望把这个泡沫(房地产) 越吹越大, 这些集团掌握了强势的话语权, 他们更容易来主导市场”。

无疑, 已有的文献在市场供求、炒作、银行信贷等方面的分析非常中肯, 都在一定程度上揭示了中国城市房地产价格的“非正常上升”的原因, 但是在一些体制性或者制度性因素上, 尤其是对于我国特殊转轨时期地方政府这个特定因素的分析上, 更是未能深入。

房地产外文翻译重庆大学本科学生毕业设计(论文) 译文附件C:全球金融危机下的中国房地产摘要:从2007年的次贷危机以来，中国经济跌入一个失望的赛季，其房地产市场已经显示出一个令人沮丧的情况。

为了扩大内需，宣布了十件计划，政府在2008年11月11日。

它提出了重组的宏观经济政策，并在同一时间，房地产政策只是在核心位置，这是整个经济形势的主导。

在本文中，仅仅是对金融危机的根源分析，然后将它显示了房地产的运作和发展在中国市场。

通过描述目前的情况，提出了相应的政策，以防止房地产泡沫和一些其他可能出现的金融风险，这可能使房地产行业保持了持续，快速，健康的发展。

关键词:金融危机影响，全国房地产开发，房地产金融，发展模式。

1简介2007年8月，美国次贷危机的爆发，美国道琼斯和纳斯达克指数大幅下挫，这也造成强大的全球股市的动荡。

这场危机不仅给了美国经济沉重的打击，也迅速蔓延到欧洲和亚洲金融市场，在世界上引起“蝴蝶效应”。

现在还在继续，在此情况下，我们必须从美国次贷危机的经验教训，以确保稳定全国房地产市场的发展。

2金融危机的根源可以看出,高的房地产价格水平，庞大的个人住房按揭,贷款和高利率的基础上流动性过剩是导致美国的这次金融危机的主要原因。

虽然它源于房地产市场和住房抵押贷款,但是贷款市场的危机已经蔓延到股市通过债券市场，对美国经济产生了影响,甚至对全球的金融体系造成了冲击.在美国的实际情况下，扩张的次级抵押贷款必然导致金融危机的发生。

由于联邦政府持续下调长期储蓄的利率储备委员会在1998至2008年，如表1所示，金融机构缓解了房地产抵押贷款，如零元的首付款和银行完全融资。

以这种方式，总抵押贷款范围扩大，并次级抵押贷款的金额也有所增加。

不良信用贷款成为越来越多。

从数量看，次贷流通1995年，是178.11亿美元，占整个贷款市场份额的5.6,。

而到2006年，流通达到4479.63亿美元，占整体市场和1995年相比增加了25倍. 从2004年到2006年期间，它保持了3年20,的增长率。

Practitioner's Corner: An Interesting TimeFor Real EstateHas there ever been a more interesting time in real estate finance? Happier times, yes, more profitable times, definitely yes .But more interesting? The year leading up to September 2008 saw the creation of real estate finance structures of breathtaking complexity .since than time in the real estate finance industry have been involved mainly in trying to understand what went wrong, and to determine whether the collapse, was in any material way the result of flaws in these complex real estate finance structures .or was it just a function of external economic pressures and the cyclical nature of real estate .while the jury is still out. The answer seems to be that the structures did not cause the real estate recession, but through their opaque nature they may have made the recession worse, both by delaying the recognition of the underling fragility of the market and by making the problems, once recognized, even more difficult to resolve.One thing is sure: many people, whether legislators, regulators, lawyers, accountants, bankers or those who raise and consume real estate capital are now working very hard to address(1) how to resolve distressed real estate capital structures, and (2)how to improve the structures and form of delivery of real estate capital to the market in the future. Change being considered now will affect the real estate markets through the next generation. Following are a few examples.RESTORING AMERICAN FINANCIAL STABILITY ACT As l write this, the US is beginning its final debate of the RESTORING AMERICAN FINANCIAL STABILITY ACT <RAFS>, and appears to be building momentum for adoption in some form, which would then require reconciliation with the equivalent House version. If adopted in anything like its current form it will cut a broad swath of change across current business. Practices by providers of real estate capital of all shapes and sizes .it will give the Federal Reserve Bank new powers over financial institutions but in turn impose more congressional over sight of the Fed.Lawyers recognize that often the most compelling litigation cases lead to the worst precedent: judicial over-reaching in the face of egregious facts. Will that be the case with the RAFS and the resulting regulations? Will we spend the next 20 years backing away from the reforms adopted in this atmosphere of crisis? This will all play out over the coming months and years, we will keep an eye on the process in this column, and as with all subjects covered in this column, we would welcome hearing your perspective on this.CALPERS AND PLACEMENT AGENTSMuch of the real estate investment momentum over the year 2005 through 2007 was fueled by increased asset allocation within public employee pension founds, attracted by seemingly high returns. One example of this was a $14 billion net increase in commercial real estate investment 9by the California Public Employees Retirement System (CalPERS) as the market boomed in 2005 and 2006.Not only was the net exposure increased, but, as detailed in a "Real Estate Program Review", dated April 19,2010,by the Real Estate Unit Of the CalPERS Investment Office," new investment disproportionally made to high risk investments ".in a Memorandum accompanying the Program Review The Real Estate Consultant to the CalPERS, Board also noted a wide variety of factors that apparently contributed to the 48.2 percent decline in Net Assets at Fair Market Value from June 30,2008 through June 30,2009, in the CalPERS real estate portfolio, as follows:(1) Higher amounts of leverage, which lowered income returns and increased exposure to changes in the asset value;(2) Recourse debt, which exposed CalPERS to risks beyond the specific assets;(3) Looser program guidelines gave investment strategies;(4 Shifting commitments from stabilized core investment to non-stabilized opportunistic investments, which now comprise more than 40 percent of the current holdings in the portfolio;(5) A dramatic increase in the number of manager relationships and commingled investment vehicles provided less control, poorer governance and hindered staff's ability to resolve problems and liquidate asset;(6) vintage year concentration with over $27 billion of equity commitments made in 2005 and 2006,in part driven by successful market timing dispositions realized by core partner.Interestingly neither the Real Estate Program Review nor the PCA Memorandum cite the undue influence of "placement agents", generally third party consultants with differing degrees of professional and competence, political or board connections, and compensation arrangements who undoubtedly contributed to the "increase in the number of manager relationships", "looser program guidelines," and "large concentrated investments." However, the California legislature did take note of the potential foe abuse. On October 11,2009,Governor , Schwarzenegger signed into law Assembly Bill No. 1584 regulating the role of placement agents and requiring disclosure of contributions or gifts to state and local retirement board members. This now has been followed by Assembly Bill No. 1743, not yet enacted into law, which would define placement agents as lobbyists into accordance with California's political reform act. This would impose strict controls<as opposed to simply disclosure>over gifts and contributions, and would prohibit compensation contingent on any investment decision. The latter provision produced initial strong opposition from the Blackstone Group, from which it subsequently backed off. The bill still face significant opposition from trade association, which, not surprisingly, prefer the regulatory approach of complete disclosure as opposed to outright prohibition .All of this is a story that will continue to unfold, with New York being another state looking closely at the issue, but while the issue of the access is important, the issue of allocation and investment strategy are even more critical. As PCA concludes in its Memorandum:CalPERS' experience during the past 28 years suggests that a real estate strategy focused primarily on direct investment in core-risk type properties has provided a more attractive risk adjusted return than the more aggressive opportunistic strategy. PCA finds significant merit in the overall context of the CalPERS investment program in pursuing a less aggressive strategy. With more controls, than was in place between 2002and 2006.Will this mean that public pension funds increasingly will focus on the same core, stable assets that are being pursued by global investment fund? Perhaps, but in the real estate program review the staff notes that at current values the CalPERS actual real estate investment portfolio is at 6.8 percent of total asses versus the target allocation of 10 percent and "the dislocation in the real estate market will present investment opportunities, which is good news for the real estate capital market. FIARA AND PRIV ATE PLACEMENTAs noted above, congress is considering adding additional structures to the private placement market. while it is un clear how many of those structures will survive the legislative process, the Financial Industry Regulatory Authority (FINRA), acting as the watchdog of the securities broker-dealers and securities registered representatives who sell private placements of, among other assets, real estate and oil and gas, has published new regulatory guidance as to the "obligation of broker-dealers to conduct Reasonable Investigations in Regulation D Offering".Private placement, or so-called Regulation D or Regulation 506 offerings sold through the securities broker-dealers channel, have a long and constructive history of raising capital for small and mid-sized business , including real estate and oil and gas companies .in the "background" section of RN 10-22,FINRA cites an estimate of $609 billion of such securities on the market in 2008. FINRA cites an estimate of $609 billion of such securities on the market in 2008. However, FINRA reminds its member broker-dealer must have made a "reasonable investigation" before determining that a security is "suitable" for investor generally and to the specific investors to whom it is being sold.[RN 10-22]obviously this is all very general ,leaving fertile ground for interpretation. perhaps more to the point on a practical level, FINRA reminds broker-dealers that they may conduct their own independent investigation of the issuer and the offering, and not simply rely on information provided by an independent counsel or due diligence firm hired by the broker-dealers, or the "syndicate manager", the "managing" broker-dealer, the broker-dealer independent investigation has to include a reasonable investigation "at a minimum" into the following issuers:(1) The issuer and its management;(2) The business prospects of the issuer;(3) The assets held by or to be acquired by the issuer;(4) The claims being made; and(5) The intended use of proceeds of the offering [RN 10-22]FINRA also add adds a cautionary note on two particular areas of concern: (1) when the broker-dealer is an affiliate of the issuer and (2) when the broker-dealer and now the issuer prepare the private placement memorandum. [RN 10-22] It also reminds broker-dealers to look for "red flags", financial statements that, although purportedly audited by an accountant, contain numerous indications that the financial statements are inaccurate.Beyond these general principles, after a reminder of supervisory and documentation responsibilities, FINRA closed the notice with helpful list of specific areas broker-dealers should include in their investigation, including:1. As to the "issuers and management":a. Historical financial statements; with particular focus on whether there are credible audited financial statements;b. Inquiring about the activities and cash needs of affiliates;c. Contacting customers and suppliers; andd. Investigation of litigation and regulatory compliance;2. As to the "issuer's business prospect":a. Review of the issuer's business plan, including critical assumption; andb.In depth review of the financial models and projected returns, including stress testing.3. As to "issuer's asset";a.Viewing the asset on site; andb.Reviewing third party engineering and similar<as to oil and gas, geologist>reports.[RN 10-22]In a footnote FINRA cautions securities registered representatives that description in the notice of the due diligence obligation of a broker-dealer "is alsointended to cover the concomitant responsibilities of any registered representatives who recommends a regulation D offering to his or her customer."RN 10-22 probably does not so much create new standards of due diligence as it makes existing standards clearer and more precise ,To that end ,it would be dangerous for any broker-dealer or registered representative not to maintain detailed files covering each of the specific areas of concern listed by FINRA.SEC PROPOSED REVISION OF ASSET-BACKED SECURITIES (ABS) REGULATION (ABS PROPOSAL)Last and certainly not least we should note the SEC's recent Release Nos.33-9117and 34-61858 proposing "significant the offering process, disclosure and reporting for asset-backed securities ".[ABS Proposal" summary"]."significant" is probably an understatement as the ABS proposal includes almost 200 pages of proposed rules, requiring some 365 pages of additional explanation, the "paperwork reducing act" portion of the ABS Proposal by itself continues for 27 pages.Of course the underlying problems addressed in the ABS Proposal are critically important to our economical recovery. Perhaps no other single factor has been so broadly attributed as a cause of the United State and even world-wide capital market collapse. in the ABS Proposal the SEC cites the importance of the proposed rulemaking :The recent financial crisis highlighted that investor and other participant in the securitization market did not have the risk underlying those securities and did not value those securities properly or accurately .The severity of this lack of understanding and the extent to which it pervaded the market and impacted the US and worldwide economy calls into question the efficacy of several. In light of the problems exposed by the financial crisis, we are proposing significant revisions to our rules governing offers, sales and reporting with respect to asset-backed securities. These proposals are designed to improve investor protection and promote more efficient asset-backed market.As its inception, securitization primarily served as a vehicle for mortgage financing, since then asset-backed securities have played a significant role in doth theUS and global economy. At the end of 2007, there were more than $7trillon of both agency and non-agency mortgage-backed securities outstanding. Securitization can provide liquidity to nearly all major sectors of the economy including the residential and commercial real estate industry, the leasing industry, and the commercial lending and credit market. Many of the problems giving rise to financial crisis involved structured finance products, including mortgage-backed securities were used to collateralize other debt obligations such as collateralized debt obligation and collateralized loan obligations, types of asset-backed securities that are sold in private placement.From 《Real Estate Finance》创业者的转机：房地产的盈利时刻在房地产金融行业中有过获取更多盈利的时刻吗?更高兴的时刻，毋庸置疑就是获取更多利润的时刻，但是更有趣的时刻是何时呢？这一年应该是在2008年9月,当看到房地产金融结构的创造性时。

国外房地产可行性研究在当今全球化的背景下，国外房地产投资一直备受关注。

对于那些有实力与愿望的投资者而言，国外房地产市场提供了丰富多样的机会。

然而，投资决策必须建立在全面的可行性研究基础之上，以避免潜在的风险。

第一，国外房地产市场的整体趋势将直接影响投资结果。

例如，在东南亚地区，受到当地政府鼓励和国际旅游业的增长驱动，房地产市场的发展前景被普遍看好。

但是，随着市场竞争的加剧和投资热潮的兴起，投资者需要谨慎评估当地市场供需情况以及未来的政策变化，以避免投资决策过度乐观。

第二，了解当地的法律和法规对于投资者来说至关重要。

房地产市场中存在着一系列涉及土地、建筑许可、产权等方面的法律问题。

投资者需要了解当地的土地所有权法律制度、投资者保护法规、租赁法规等，以确保自己的权益得到充分保护。

此外，还需要熟悉当地的税务政策和贷款利率等因素，以评估投资收益率和风险。

第三，对于国外房地产市场的预期回报和风险需有清晰的认识。

投资者应该综合考虑租金收入、资本增值和汇率风险等因素，以确保自己的投资回报率是可持续和可预测的。

此外，了解当地的经济基本面和金融市场情况也是不可或缺的。

比如，在一些发展中国家，通货膨胀率高、政治不稳定等因素可能对房地产市场产生重大影响。

第四，选择合适的投资项目和合作伙伴也是至关重要的。

对于没有充分的市场了解和经验的投资者来说，他们可以通过与当地房地产开发商、投资基金和专业咨询机构合作来规避风险和共享专业知识。

合适的投资项目不仅要符合投资者的预期回报率和风险接受程度，还应与当地市场需求和发展方向相匹配。

最后，投资者还应该注意到国外房地产投资并非一劳永逸。

市场风险、政策变化、社会文化差异等因素都可能对投资产生影响。

因此，及时的市场调研和风险管理是必不可少的。

总之，国外房地产投资具有吸引力，但也伴随着一系列风险和挑战。

投资者在做出决策之前应充分了解当地市场情况、法律法规和预期回报风险，并选择合适的投资项目和合作伙伴。

住宅项目工程造价外文文献翻译英文Examining the role of value management in controlling cost overrun [application on residential construction projects in Egypt]Laila Khodeira，Alaa GhandourAbstractActual cost of construction projects generally differs from planned cost, where this could reach a value between 21% and 55%. In Residential construction, cost overruns form a crucial problem. A suggested methodology to mitigate this problem is Value Management (VM), which has proven to be an effective approach. Thus, the main objective of this paper is to examine the role of VM in Controlling Cost Overrun, with special reference to Residential Projects in Egypt. A literature review was applied on the basics of project cost implementation. In addition, a qualitative analysis of case studies was performed. Finally, a questionnaire survey that assessed the impact of applying VE on Residential projects in Egypt was performed. Findings of this paper highlighted the value added from applying Methodologies of VM, where it was observed that it could achieve 15–40% savings of the total project cost.Keywords: Cost management, Residential Construction, Value management, Cost overrunIntroductionThe commonly known definition of the term “Project Cost” is the financial sum needed to accomplish the production of construction-related products; for example, buildings. The cost of any building contractor-related project is a representation of all those items under the name of “expenditures”. In general, project's cost is determined by quantitative assessments of the expected sum amount of resources required to accomplish all necessary activities; labor, materials, supplies, etc. Thus, the project's cost is all about the amount of cash that is to be paid for the sake of completion of all activities concerning this particular project. Moving on to cost overrun, it can simply be estimated by dividing the change in the contract amount by the contract award amount. Therefore, Cost Overrun = Final Actual Cost − Original Estimated Budget Cost. It can als o be defined as “excess of actual cost over budget”. Cost Overrun is also referred to as “Cost Escalation”, “Cost Increase”, or “Budgets Overrun”.This paper is mainly concerned with control processes of the construction projects cost overruns. The main objective of this paper is thus to examine the role of Value Management (VM) in controlling such overrun, with special reference to residential projects in Egypt. In addition, the paper attempts to identify the determinants and basis of the total cost of implementing such type of projects, that can help in reducingthe gap between the estimated/planned time and actual time and cost of residential constructional projects implementation. This paper suggests the usage of value management approach which is based on structured steps and phases that finally aim at reaching a fair balancing of cost and quality.Historically, value management emerged in the United States of America as a result of running out of materials used in manufacturing during World War II. Mr. Lawrence Miles (founder of Value Management, then known as Value Analysis) of General Electric was hugely responsible for this technique's creation in 1942, and since then it has been a preferred method in a wide range of industries. Currently, the US government and other countries as the UK, Australia, KSA, Japan, and Korea rely on the “Value Management ” among other countries, and it is expected that such technology will have a vital role within capital projects.Literature reviewThe first step towards achieving the aim of this research is undergoing a comprehensive literature review of recent researches that dealt with the concepts of cost overruns, Value management and the significance of residential construction projects in Egypt.Defining cost overrunThe term “Cost Overrun” can be defined as the state when: “whenthe final cost of the project exceeds the original estimates”. The cost has no doubt proven to be an essential component to accomplish any project's success, as well as one of the most factors that impact the project's quality. It is believed that construction projects should be experiencing an increase of about 33% on average. According to a comprehensive research that was performed on cost overruns in international construction projects, it was discovered that 9 out of 10 projects have passed the previously set estimations, 50–100% excesses were postulated to be common and had a constant for 70 years through which data was available.In most developing countries, the trend is different; at times projects reach as much as a 100% of cost variance. Low quality materials might have a clear impact on construction cost, even higher than the expected/estimated, which is mainly caused by material loss during the implementation process. This problems, and others are the resultant of lack of standards that could mitigate cost overrun and decrease construction costs, causing many construction firms to fail. Therefore, the development of an accurate cost management strategy is essential, moreover, the application of the strategy of, “Proactive Cost Management” will be the way through.One of the most important and largely impacting factors in the project mana gement's life cycle is “Cost”; it can be considered as a driverof the project success. Aside from its previously proved vitality, it is very redundant to witness the failure of a project's objective achievement within the previously set cost. Cost deviation from the initial plan is dominating in most construction project sites. However, there were not enough efforts exerted to eliminate this proved phenomenon.In the coming part of this research attempts to closely study, search, identify and estimate the importance of different factors that could affect cost deviation and variance within Egyptian residential projects according to their impact and importance respectively; it also offers possible methodologies to get along with this vast spread phenomenon.Residential projects in EgyptOne of the most current active industries in the Egyptian economy is the construction industry, as the residential units continue to grow rapidly to cope with the expansion of the population in Egypt. The composition of the country's population is one of the most aggressive contributors to the booming of this kind of projects. Construction projects consist of complex operations that cannot be predicted. It is as well very scarce to find unchanged construction projects in terms of different aspects of the process. This, of course, leads to quite a noticeable variation orders, which in turn causes cost overrun, time delay, quality defects and other negative impacts. Moreover, they lead as well to the uncertainty of flow processes and the increase of non-value-adding processes which reducethe value of the output.Definition of value management methodologyTo define the VM methodology, it could be described as a structured and systematic methodology which improves projects' end-products and activities. The main function of VM methodology is to analyze products changes in construction and design projects. In the meanwhile, management processes as well as business help to equilibrate tasks that are necessary, along with cost and other resources needed to accomplish. To sum up, “Value Methodology” is the foundation of “Value Analysis”, “Value Management” and “Value Engineering”. “Value analysis is a system of thinking based on the function of Identifying and eliminating all unnecessary costs while maintaining all types of quality in any industry, construction or service or anywhere the dollar is spent”.“Value Engineering is a management technique installed using a structured approach to find the best functional balance between lost reliability and product performance or enterprise search programs to improve management capacity of people and promote gradual change by identifying and transferring unnecessary costs”. The “Value Engineering” methodology formulated by SA VE's usage is not wide-spread in Egypt, awing to the fact that the organizations are not aware of it and don’t put an effort to understand it properly. The risk is taken by practitioners themselves, as their main aim is to reduce cost, so other componentfunctions get affected as well. In addition, creative alternatives do not seem to be provided due to the composition of teams that are non-coordinated, although the formulation of teams determines whether value engineering is to succeed or fail .Analysis of the application of VM on residential projects examples Information phasein this phase, The VM team leader has prepared a cost model from the assessed cost provided by the project's team. The model is beneficial in the identification of the major construction trade categories, the estimated cost that will be required by the designer, and finally the total project cost for significant cost items' percentage. By the end of this phase, the cost drivers already have a clear vision for the project by cost models and continue to guide the VM team during the VM study.In the analyzed example projects, the VM team had specific observations regarding projects costs. These include the importance of producing a generic study regarding the project's elements as a whole and their cost ratio to that of the whole project, so that the cost of each item is recorded and all data regarding this project is detailed. Within this stage, reviewing of the drawings associated with quantities and quality tables were necessarily checked in. In addition, the determination of the effect of each item on the business total cost should be performed. Finally, the items with great impact should be determined and entered in trials ofevaluation.Function analysis phaseThe importance of functional analysis is the production of a unique view for the project study, and it is the essential process that distinguishes VM from any other problem-solving practice. It transforms different elements of a certain project into functions, and this mentally separates the VM team away from original design and excels into a functional concept approach of the project. Functions are addressed by verb-noun sentences in order to accomplish a reduction of the project's needs to a possible elemental level. This helps to identify the major functions of the design elements of the project and allows the team to have a broader understanding and consideration of alternative methods to achieve their optimum functions.Creative phase & evaluation phaseThe creativity phase generally involves the listing of creative ideas, Whilst, throughout the evaluation phase the VM team, along with the Clients and/or Users work collaboratively on evaluating the generated ideas. These two phases are directly explained through the analysis of their actual application on the two examples shown in Table . The main procedures of each phase was similarly applied on each example project, however the outputs of each process varied according to the particularity of each one.Generic findingsBased on the analysis of the results extracted from the applied questionnaire survey, literature review and the analysis of examples, the authors observed the agreed upon role of value management in residential construction projects. This is shown. It could be mentioned accordingly that there are potentials that are gained upon the application of VM, these potentials are either related to cost overruns, quality of the products or related to building team.ConclusionsIt was obvious from the study that the analysis of residential projects cases in Egypt showed that the cost overrun percentage ranges from 21% to 55.19% in projects of constructional nature, which encourages the application of value management process in order to achieve cost control. Where, the first example achieved 40% savings in cost concerning roof layers, in addition to the improvement of thermal insulation reaching 55%. Whereas, the second example reduced the openings of doors and windows according to requirements of the design code, which achieved cost savings in the wooden work item and also in the work of aluminum item. This example managed to achieve 15% cost saving from the original cost of all architectural works in projects.Based on the findings of this study the role played by VM in Residential construction was clearly identified where the followingpotentials were extracted from the findings of the study:Improvement in cost control of the project.Fulfillment of cost reductions without compromising value.The client gains more value of money.The process results in a quality product being delivered.The process results in successful team working.To sum up, it can be stated that obvious improvement of value occurs when VM methodology and phases are effectively applied. The paper clarified that the proposed alter natives through value management’s research considerations reached from 15% to 40% cost savings as observed in Fig. 18due to saving cost from specific item(s). This result was supported by the findings of the survey questionnaire as well. Where, the survey results showed that applying Value Management in Residential Construction projects has high impact in residential project specially cost reduction.中文埃及住宅工程造价控制：价值管理的具体应用摘要建设项目的实际成本通常与计划成本不同，后者可能达到21％至55％之间的值。

Risk Analysis of the International Construction ProjectBy: Paul Stanford KupakuwanaCost Engineering Vol. 51/No. 9 September 2009ABSTRACTThis analysis used a case study methodology to analyse the issues surrounding the partial collapse of the roof of a building housing the headquarters of the Standards Association of Zimbabwe (SAZ). In particular, it examined the prior roles played by the team of construction professionals. The analysis revealed that the SAZ‟s traditional construction project was gener ally characterized by high risk. There was a clear indication of the failure of a contractor and architects in preventing and/or mitigating potential construction problems as alleged by the plaintiff. It was reasonable to conclude that between them the defects should have been detected earlier and rectified in good time before the partial roof failure. It appeared justified for the plaintiff to have brought a negligence claim against both the contractor and the architects. The risk analysis facilitated, through its multi-dimensional approach to a critical examination of a construction problem, the identification of an effective risk management strategy for future construction projects. It further served to emphasize the point that clients are becoming more demanding, more discerning, and less willing to accept risk without recompense. Clients do not want surprise, and are more likely to engage in litigation when things go wrong.KEY WORDS:Arbitration, claims, construction, contracts, litigation, project and risk The structural design of the reinforced concrete elements was done by consulting engineers Knight Piesold (KP). Quantity surveying services were provided by Hawkins, Leshnick & Bath (HLB). The contract was awarded to Central African Building Corporation (CABCO) who was also responsible for the provision of a specialist roof structure using patented “gang nail” roof trusses. The building construction proceeded to completion and was handed over to the ownerson Sept. 12, 1991. The SAZ took effective occupation of the headquarters building without a certificate of occupation. Also, the defects liability period was only three months .The roof structure was in place 10 years before partial failure in December 1999. The building insurance coverage did not cover enough, the City of Harare, a government municipality, issued the certificate of occupation 10 years after occupation, and after partial collapse of the roof .At first the SAZ decided to go to arbitration, but this failed to yield an immediate solution. The SAZ then decided to proceed to litigate in court and to bring a negligence claim against CABCO. The preparation for arbitration was reused for litigation. The SAZ‟s quantified losses stood at approximately $ 6 million in Zimbabwe dollars (US $1.2m) .After all parties had examined the facts and evidence before them, it became clear that there was a great probability that the courts might rule that both the architects and the contractor were liable. It was at this stage that the defendants‟ lawyers req uested that the matter be settled out of court. The plaintiff agreed to this suggestion, with the terms of the settlement kept confidential .The aim of this critical analysis was to analyse the issues surrounding the partial collapse of the roof of the building housing the HQ of Standard Association of Zimbabwe. It examined the prior roles played by the project management function and construction professionals in preventing/mitigating potential construction problems. It further assessed the extent to which the employer/client and parties to a construction contract are able to recover damages under that contract. The main objective of this critical analysis was to identify an effective risk management strategy for future construction projects. The importance of this study is its multidimensional examination approach.Experience suggests that participants in a project are well able to identify risks based on their own experience. The adoption of a risk management approach, based solely in pastexperience and dependant on judgement, may work reasonably well in a stable low risk environment. It is unlikely to be effective where there is a change. This is because change requires the extrapolation of past experience, which could be misleading. All construction projects are prototypes to some extent and imply change. Change in the construction industry itself suggests that past experience is unlikely to be sufficient on its own. A structured approach is required. Such a structure can not and must not replace the experience and expertise of the participant. Rather, it brings additional benefits that assist to clarify objectives, identify the nature of the uncertainties, introduces effective communication systems, improves decision-making, introduces effective risk control measures, protects the project objectives and provides knowledge of the risk history .Construction professionals need to know how to balance the contingencies of risk with their specific contractual, financial, operational and organizational requirements. Many construction professionals look at risks in dividually with a myopic lens and do not realize the potential impact that other associated risks may have on their business operations. Using a holistic risk management approach will enable a firm to identify all of the organization‟s business risks. This will increase the probability of risk mitigation, with the ultimate goal of total risk elimination .Recommended key construction and risk management strategies for future construction projects have been considered and their explanation follows. J.W. Hinchey stated that there is and can be no …best practice‟ standard for risk allocation on a high-profile project or for that matter, any project. He said, instead, successful risk management is a mind-set and a process. According to Hinchey, the ideal mind-set is for the parties and their representatives to, first, be intentional about identifying project risks and then to proceed to develop a systematic and comprehensive process for avoiding, mitigating, managing and finally allocating, by contract, those risks inoptimum ways for the particular project. This process is said to necessarily begin as a science and ends as an art .According to D. Atkinson, whether contractor, consultant or promoter, the right team needs to be assembled with the relevant multi-disciplinary experience of that particular type of project and its location. This is said to be necessary not only to allow alternative responses to be explored. But also to ensure that the right questions are asked and the major risks identified. Heads of sources of risk are said to be a convenient way of providing a structure for identifying risks to completion of a participant‟s part of the project. Effective risk management is said to require a multi-disciplinary approach. Inevitably risk management requires examination of engineering, legal and insurance related solutions .It is stated that the use of analytical techniques based on a statistical approach could be of enormous use in decision making . Many of these techniques are said to be relevant to estimation of the consequences of risk events, and not how allocation of risk is to be achieved. In addition, at the present stage of the development of risk management, Atkinson states that it must be recognized that major decisions will be made that can not be based solely on mathematical analysis. The complexity of construction projects means that the project definition in terms of both physical form and organizational structure will be based on consideration of only a relatively small number of risks . This is said to then allow a general structured approach that can be applied to any construction project to increase the awareness of participants .The new, simplified Construction Design and Management Regulations(CDM Regulations) which came in to force in the UK in April 2007, revised and brought together the existing CDM 1994 and the Construction Health Safety and Welfare(CHSW) Regulations 1996, into a single regulatory package.The new CDM regulations offer an opportunity for a step change in health and safety performance and are used to reemphasize the health, safety and broader business benefits of a well-managed and co-ordinated approach to the management of health and safety in construction.I believe that the development of these skills is imperative to provide the client with the most effective services available, delivering the best value project possible.Construction Management at Risk (CM at Risk), similar to established private sector methods of construction contracting, is gaining popularity in the public sector. It is a process that allows a client to select a construction manager (CM) based on qualifications; make the CM a member of a collaborative project team; centralize responsibility for construction under a single contract; obtain a bonded guaranteed maximum price; produce a more manageable, predictable project; save time and money; and reduce risk for the client, the architect and the CM.CM at Risk, a more professional approach to construction, is taking its place along with design-build, bridging and the more traditional process of design-bid-build as an established method of project delivery.The AE can review the CM‟s approach to the work, making helpful recommendations. The CM is allowed to take bids or proposals from subcontractors during completion of contract documents, prior to the guaranteed maximum price (GMP), which reduces the CM‟s risk and provides useful input to design. The procedure is more methodical, manageable, predictable and less risky for all.The procurement of construction is also more business-like. Each trade contractor has a fair shot at being the low bidder without fear of bid shopping. Each must deliver the best to get the projec. Competition in the community is more equitable: all subcontractors have a fair shot at the work .A contingency within the GMP covers unexpected but justifiable costs, and a contingency above the GMP allows for client changes. As long as the subcontractors are within the GMP they are reimbursed to the CM, so the CM represents the client in negotiating inevitable changes with subcontractors.There can be similar problems where each party in a project is separately insured. For this reason a move towards project insurance is recommended. The traditional approach reinforces adversarial attitudes, and even provides incentives for people to overlook or conceal risks in an attempt to avoid or transfer responsibility.A contingency within the GMP covers unexpected but justifiable costs, and a contingency above the GMP allows for client changes. As long as the subcontractors are within the GMP they are reimbursed to the CM, so the CM represents the client in negotiating inevitable changes with subcontractors.There can be similar problems where each party in a project is separately insured. For this reason a move towards project insurance is recommended. The traditional approach reinforces adversarial attitudes, and even provides incentives for people to overlook or conceal risks in an attempt to avoid or transfer responsibility.It was reasonable to assume that between them the defects should have been detected earlier and rectified in good time before the partial roof failure. It did appear justified for the plaintiff to have brought a negligence claim against both the contractor and the architects.In many projects clients do not understand the importance of their role in facilitating cooperation and coordination; the design is prepared without discussion between designers, manufacturers, suppliers and contractors. This means that the designer can not take advantage of suppliers‟ or contractors‟ knowledge of build ability or maintenance requirements and the impact these have on sustainability, the total cost of ownership or health and safety .This risk analysis was able to facilitate, through its multi-dimensional approach to a critical examination of a construction problem, the identification of an effective risk management strategy for future construction projects. This work also served to emphasize the point that clients are becoming more demanding, more discerning, and less willing to accept risk without recompense. They do not want surprises, and are more likely to engage in litigation when things go wrong.中文译文：国际建设工程风险分析保罗斯坦福库帕库娃娜工程造价卷第五十一期2009年9月9日摘要此次分析用实例研究方法分析津巴布韦标准协会总部（SAZ）的屋顶部分坍塌的问题。

项目可行性研究:成功实现可持续发展和社会责任建设管理实践的关键作者：申立银 , 维维安 W.Y. 塔姆, 利昂娜. 塔姆, Ying-bo Ji摘要:本文介绍了利用可持续发展的原则进行项目可行性研究的一种新方法。

我们知道特别是基础设施建设项目，对实现可持续发展具有重大的影响，因此需要考虑项目的可持续发展。

这已成为一个紧迫的问题，特别是在那些发展中国家或地区，如中国，大量的建设工程正在进行或将要进行。

以前的研究已经解决了一些工程可行性研究项目可持续发展绩效的相关性问题。

利用可持续发展的原则来进行项目可行性研究的重要性没有被项目的利益相关者有效地理解。

本文针对创业项目的可行性研究并且借鉴中国建筑业可持续建筑实践的主要挑战。

案例研究方法是本文研究的主要方法，研究小组收集了87个不同项目的可行性研究报告。

本文包含18个经济属性，9个社会属性，8个环境属性，用于衡量项目绩效。

研究结果表明，经济效益是项目可行性研究最关注的问题，而较少关注社会和环境绩效。

该研究揭示了从可持续发展的角度实施建设项目绩效的不足，研究结果还表明，需要转移项目可行性研究的传统做法，即包含了可持续发展原则的一种新的方法。

关键词：可行性研究可持续发展绩效可持续建设项目中国正文：1.简介可持续发展与生态、社会和经济制度[1,2]之间有着显著的关系和相互作用。

参照现有的建筑企业，可持续发展会导致一个双赢的结果，促进环境的改善和进步的社会，并同时获得了建筑公司的竞争优势和经济利益。

其他的研究强调了企业社会责任在追求可持续建筑[3-5]中的重要性。

由定义可知，企业社会责任涉及有关环境，社会道德行为，经济[1]。

当建筑公司把可持续发展作为公司的目标，他们往往会建立企业社会责任政策实施的必要程序。

众所周知，企业社会责任是承担对环境和可持续发展的责任，而社会层面的认识是经常被忽视的[1]。

推广可持续发展是在工程建设中追求一种平衡经济、社会和环境绩效的实践。

高层建筑施工外文文献及翻译高层建筑施工是一项复杂而具有挑战性的工作。

为了更好地理解和应对该领域的问题，研究现有的外文文献可以提供有价值的信息。

下面是一些关于高层建筑施工的外文文献和翻译摘要。

文献1: "高层建筑结构设计原则"这篇文献介绍了高层建筑结构设计的原则和要点。

作者强调了结构设计的重要性，包括选择适当的材料和结构类型，以及考虑建筑物在不同荷载和环境条件下的行为。

文献中还提到了一些常见的设计挑战和解决方法，如减震设计和风荷载控制。

文献2: "高层建筑施工管理的关键问题"该文献探讨了高层建筑施工管理中的关键问题。

作者阐述了施工计划和进度管理、质量控制、安全管理等方面的挑战，并提出了相应的解决方法。

文献还讨论了人力资源和团队管理在高层建筑施工中的重要性，以及一些管理方法和工具的应用。

文献3: "高层建筑施工的环境影响评估"这篇文献关注了高层建筑施工对环境的影响评估。

作者介绍了一些常见的环境影响类型，如噪声、震动和空气污染，并探讨了它们对周围环境和人类健康的潜在影响。

文献中还提到了一些评估方法和控制措施，以减少施工对环境的不良影响。

文献4: "高层建筑施工的创新技术与趋势"该文献介绍了高层建筑施工中的创新技术和趋势。

作者讨论了在设计、施工和运营阶段中的一些新技术应用，如BIM(Building Information Modeling)和智能建筑管理系统。

文献还探讨了未来高层建筑施工可能的发展方向和挑战。

以上是几篇关于高层建筑施工的外文文献和翻译摘要。

通过学习这些文献，我们可以更深入地了解高层建筑施工的关键问题、设计原则和环境影响评估等方面的知识，并为解决实际工作中的挑战提供启示。