Publication
Innovative business plan: Artificial intelligence in the condominium management sector
| Summary: | The Condominium Management sector in Portugal holds significant potential, given that approximately 50% of the portuguese population resides in buildings with horizontal property ownership, where individuals own separate units and share common areas of the building. Despite this potential, some studies and research have revealed that the current customer experience in this sector is notably poor. The main shortcomings of this activity include inadequate communication and transparency between customers and management companies, along with inefficient building management practices. Managers are overloaded with repetitive, individual tasks and a multitude of responsibilities, which impairs their ability to manage buildings effectively and solve problems efficiently. This master thesis aims to develop a business plan to assess the economic viability of developing an innovative Condominium Management company. The goal is to revolutionize the sector by leveraging technology and Artificial Intelligence to improve management processes and enhance communication between stakeholders. By automating operations and rationalising interactions with customers, the goal is to lighten the workload of managers, thereby increasing overall efficiency and customer satisfaction. The business plan will be developed over 5 years and according to the economic and financial analysis, the project has a Net Present Value of 321,749€ and an Internal Rate of Return of around 90%, proving to be a profitable and sustainable business, with some margin for error to deal with any unforeseen events or market variations. |
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| Main Authors: | Aleixo, Joana Costa |
| Subject: | Condominium sector Inteligência artificial -- Artificial intelligence Technology Inovação -- Innovation Plano de negócio -- Business plan Startup Setor dos condomínios Tecnologia |
| Year: | 2024 |
| Country: | Portugal |
| Document type: | master thesis |
| Access type: | open access |
| Associated institution: | ISCTE |
| Language: | English |
| Origin: | Repositório ISCTE |
| Summary: | The Condominium Management sector in Portugal holds significant potential, given that approximately 50% of the portuguese population resides in buildings with horizontal property ownership, where individuals own separate units and share common areas of the building. Despite this potential, some studies and research have revealed that the current customer experience in this sector is notably poor. The main shortcomings of this activity include inadequate communication and transparency between customers and management companies, along with inefficient building management practices. Managers are overloaded with repetitive, individual tasks and a multitude of responsibilities, which impairs their ability to manage buildings effectively and solve problems efficiently. This master thesis aims to develop a business plan to assess the economic viability of developing an innovative Condominium Management company. The goal is to revolutionize the sector by leveraging technology and Artificial Intelligence to improve management processes and enhance communication between stakeholders. By automating operations and rationalising interactions with customers, the goal is to lighten the workload of managers, thereby increasing overall efficiency and customer satisfaction. The business plan will be developed over 5 years and according to the economic and financial analysis, the project has a Net Present Value of 321,749€ and an Internal Rate of Return of around 90%, proving to be a profitable and sustainable business, with some margin for error to deal with any unforeseen events or market variations. |
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