The classification of transaction costs: the innovation in the construction industry based on building information modeling. A case study of multilingual schools

Abstract

The problems of effective investment in social infrastructure have a contradiction between the need to expand the functions of social infrastructure in the information society and, as a result, the potential increase in the cost of this state investment projects. Based on the in-depth interview method, we prepared questionnaires for several interviews with industry experts to identify the transaction costs in the construction industry. The results of the research represent technical and organizational innovations that reduce the transaction costs of investment projects for the development of social infrastructure during the life-cycle of an object. We tested our hypothesis on the example of building a multilingual school in Kazan and gave a classification of transaction costs in the construction industry. The proposed method of reducing transaction costs of an investment project for the development of social infrastructure, based on buildings information modeling, allows solving the problem of high-quality public buildings cost-effective construction and the creation of public goods in the region.