The development of a decision support system for decisions in property development in South Africa

M.Com. (Business Management)The ultimate objective of this research report was to develop a Decision Support System, (DSS), that can be used by property professionals to enable them to make better decisions regarding property development in South Africa. The DSS addresses the problem of numerous uncertain variables in property development investment decisions. The capability of the computer to do repetitive calculations with different combinations of variables, with probabilities linked to each variable, was used in a Monte Carlo analysis. The DSS was developed on a "Lotus 1-2-3™ Release 4 for Windows" spreadsheet which makes the program adaptable to suit specific applications if the need arises. The DSSwill, however, be able to address the majority of property developments without any adaptation. The DSS was appraised by property professionals and the comments received from the respondents indicate that the primary objective stated was achieved. The DSS is best suited for property investors who are also involved in the early development phases