Construction Economics and Management Department

Construction Department of Economics and Management was established in 2014 on the basis of the No. 23 Department of the former Building Production Organization, Economics and Management. This chair is functioning as a former industrial institute of Georgian Technical University since 1934. Several generations of teachers have changed during their existence. Unfortunately, many of them left us in good name, with the architectural, scientific and pedagogic biography. Among them are: Ivane Gabunia, Ivane Shchuklini, Nikoloz Matveev, Nikoloz Tukhareli, Nikoloz Korinteli, Shalva Siradze, Shalva Doborjginidze, Ivan Beethaneli, Abesalom Chanturia, Jemal Chogovadze, Jana Companion, Irakli Kakulia, Otar Tsintsadze, Koba Mevskiy, Leila Sharashenidze, Richard Kakauridze, Gela Sadunishvili, Vano Dekanozishvili, Ketevan Kolashvili, Ketevan Darialashvili, Albert Jibladze and others.

The chair was split in 1963 and created the 75th Chair of the second “Building Production, Technology and Building Materials”.

In different periods were the famous scientists: Ivane Shchuklin, Nikoloz Matveev, Dimitri Chogovadze, Abesalom Chanturia and Jemal Chogovadze. The department is headed by Professor Elina Kristesiashvili. Associate professors: Leila Kristesiashvili, Koba Jincharadze and Medea Dzotsenidze, Assistant professors: Ia Khartishvili and Levan Bogveradze, Assistant Irakli Gogoladze. The professors are: Elina Kristesiashvili, Grigol Khoperia, Murman Bakradze, Temur Amkoladze and Vakhtang Balavadze. Invited Professor David Bakradze, invited teachers: Mariam Vardiashvili and Mariam Giorgadze and Emeritus: Revaz Makhviladze, Raul Pataraia and Guram Tsintsadze.

They read the following subjects in Bachelor’s, Master’s and Doctoral Educational Program:

Building management organization planning and management in construction;
Construction economy;
Assessment criteria and audits of buildings-structures;
Construction Marketing;
Investment theory and analysis;
Lending and financing in construction;
Special spaces in the economy and organization of construction and other subjects;

It is widely recognized that the construction management is a field of science and technology, which will look for any kind of construction related to the design, estimation documentation, financing and lending, management, marketing activities and other issues, both new construction and existing buildings in the Operation Conditions. Therefore, the staff of №107 Department actively participates in the design and expert activities of our country, are considered to be highly qualified specialists and often need to solve various construction and technical issues.

In terms of market economy, constructions are mainly invested and credited to investments, investment annually increases as new units, as well as renovation and reconstruction lines of cities and settlements. New industrial facilities , resort and sport-recreational complexes are being built. Future plans are planned in terms of improvement of transport infrastructure, hydraulic, meliorative and other constructions. Besides qualified engineers, there is a need for specialists with construction management education.

All construction directions in Georgia have great prospects of development. Discussion of any new construction initiative begins in the economic context. Leading construction developer firms currently lack of economists-managers, and in the recent years their financial failures have caused incorrect economic calculations.

As it was noted, constructions in today’s conditions are mainly carried out by attracting investments. Investment means long-term investment in capital for the purpose of winning the country’s economic activity in different spheres of business. The investor implies a private person, successful company or bank. A private entity or a successful company defines its activities by investing in its own funds and thinks that the investment risk fees is a financial success, while the bank mainly produces credit.

The “investment cycle” in the construction includes processes from design and construction to its operation.

The construction is a long process and involves the action agreed with a multitude of agricultural organizations (firms). Even one out of the top will be negatively impacted entirely on the construction. The timely completion of works is important for the construction organization, for the simple reason that each overnight day increases the fixed amount determined by the expenditure record and contract. This moment is a devastating impact on the movement of the organization, which will be particularly painful for the firms who have the funds required for the construction of the bank due to the daily increase in the penalties.

Investment process holds a key place. If the terms of the construction are cut off and the reduction of the timeframes, the liabilities undertaken by the credit are fulfilled. The overriding construction of the term of the construction will result in an increase in the banking penalty and the profit expected from the preliminary calculation and often ends with the collateral collapse. The property he put into the bank is transferred to the Bank’s disposal.

As a rule, the bank assesses property and borrows within 40% of the face value, which protects the bank without risk from expected results.

In modern financial in the modern world, the importance of the investment process is very important. This moment is equally important for any aspect of various fields of state farming as well as for any direction of construction. Obviously, at the level of modern requirements, it is necessary to take appropriate actions from qualified specialists who are preparing our N107 department.

It is important to note that the growth of construction activities also determines the well-being of the country. In addition to the movement of financial flows employed in construction and investing expertise, the engineering art should also be owned. Production materials and structural elements and the calculation of the direction of the Technical University professors will teach, and the economic and managerial skills must be enhanced economic disciplines in the study of the modern world outlook concepts at the level of what our direction provides №107 Unvelqops.

Prosely comparable architect is the designer of the buildings, or mother, a designer-father, and a built-in manager who assures the investor in the implementation of the intention, or promotes the embellishment of the offspring on the paper.

A specialist employee (civil, industrial, energy, rail, etc.) in all fields of construction, as well as in different directions of the economy (business business, marketing, finance, banking, intermediate operations, innovations, insurance and taxation etc.) Deep theoretical knowledge and its practical application to possess, Ethnic and natural science basics, basics of building types and the organization running the appropriate skills and are well cognizant of professional responsibility, to hold business talks with the rules, be able to recognize complex problems, solve them and to identify the appropriate knowledge and ethical norms.

As for the specialists employed in construction management, the above mentioned requirements include enhancing and strengthening professional skills obtained in educational institutions.