New Generation Whole-Life Costing: Property and Construction Decision-Making Under Uncertainty

ISBN-13: 9780415346573 / Angielski / Twarda / 2006 / 224 str.

Ian Ellingham; William Fawcett

Opis

New Generation Whole-Life Costing presents an innovative approach to decision-making and risk management for construction and real estate. It applies the options-based approach that has revolutionized the management of uncertainty in the business world. Based on government-sponsored research at Cambridge Architectural Research Ltd., the book introduces the idea of 'lifecycle options'. The desirability of whole-life costing is widely accepted, but take-up levels have been low. One problem is that traditional techniques fail to take account of future uncertainty. In contrast, the new options-based approach considers a diversity of possible futures, and favours flexible strategies that incorporate lifecycle options. This approach leads to more cost-effective and sustainable decisions, minimizing the risk of under- or over-investment. This book is structured around realistic case studies that demonstrate the prevalence of lifecycle options. These case studies are backed up by clear presentation of basic principles and mathematical techniques allowing the book to be read either as a stimulating introduction to new concepts, or as a guide to mathematical methods.

Spis treści

1. The Rationale for Project Evaluation  2. Evaluating Long Term Projects  3. Evaluating Risk Projects  4. Data for Whole-Life Costing  5. Lifecycle Options  6. The Option to Develop  7. The Option to Expand  8. The Option to Switch Use  9. The Option to Reconfigure  10. The Option to Refurbish  11. Options on New Technology  12. Very Long Term Projects  13. Long-Term Budgeting under Uncertainty  14. Self-Assessment Matrix for Whole-Life Evaluation.  Where to Find Out More

O autorze

Ian Ellingham is an associate of Cambridge Architectural Research Ltd., UK. William Fawcett has held a lectureship at the University of Hong Kong and was one of the founding directors of Cambridge Architectural Research Ltd. He holds the Chadwick Fellowship in Architecture at Pembroke College, Cambridge.