The specifics and criteria of investment appraisal for the investment in human capital within the field of construction technology and management

The business environment is nowadays characterized by the continuously rising amount of knowledge, technology advances and skills needed for the application of new technologies. This affects many industries, including the field of construction technology and management. The sum of knowledge, skills and abilities that enterprises have at their disposal, embodied in their employees, represent an asset noted as human capital. This asset has its specifics in comparison with other kinds of assets, such as the tangible fixed assets. However, the investment activity is equally necessary for this intangible asset to be maintained and developed. The aim of this article is to analyse the criteria used for investment appraisal within the investment in other kinds of assets, and to assess their applicability for the investment in human capital. The article presents the possible modifications of investment appraisal criteria applicable for investment in human capital within the field of construction technology.