Methodological aspects of implementing an innovative approach to improving the efficiency of development projects

In this paper, the authors touch upon the issue of competition of development companies and the existing trends of increasing the competitiveness of development projects in modern conditions. There are two main approaches to increasing competitiveness. The first organizational approach is to create an additional organizational unit in the structure of the development company, which is designed to control the choice of technical solutions for construction projects, as well as to evaluate them in terms of functionality, cost and efficiency in order to obtain a better development product for the end user without increasing the cost. The second approach is innovative, it is aimed at increasing the efficiency of the development company's activities using modern digital technologies, which are designed to reduce the cost of construction by reducing deadlines, minimizing the number of errors, speeding up approvals and automating the processes that accompany a development project during its implementation. In the implementation of the innovation approach, the main directions of innovative digital technology implementation in construction are listed and their basic description and characteristics are given. The main advantages that can be achieved through the application of these approaches are identified: reduction of construction time, improvement of the quality of construction products, and cost reduction. The paper also describes the main problems and limitations of the approaches under consideration, such as high regulation of the construction industry, lack of financial resources, imperfect methodology for assessing the effectiveness of innovative projects, lack of qualified personnel capable of applying and mastering innovations.