Buy it now
Buying options
Tax calculation will be finalised at checkout
Other ways to access
This is a preview of subscription content, log in via an institution to check for access.
Table of contents (12 chapters)
-
Front Matter
-
Back Matter
About this book
The applications demonstrated here cover engineering, building, housing, finance, economics, contracts, general management, and project management. The examples are as follows: designing/building features in infrastructure (including buildings and houses) such that the infrastructure can be adapted in response to future changes in climate, demographics, or usage; incorporating features in contracts such that the terms and conditions can be changed in response to changing situations; purchasing rights now such that options exist to buy or sell an asset in the future; structuring a financial investment agreement so that its terms and conditions can be changed in the future; structuring project payments to provide future guarantees of revenue if needed; and designing an operation such that it can be expanded, contracted, abandoned, switched, changed, delayed, or deferred in the future.
The level of required mathematics is kept at a very modest level: an undergraduate knowledge of algebra and probability is all that is required. Numerical examples, accompanied by readily understandable diagrams, illustrate the methods outlined. The formulations are kept straightforward and accessible for practitioners and academics alike.
Keywords
- Adaptable Infrastructure
- Project Delivery
- Convertible Contracts
- Flexible Management Strategy
- Flexible Engineering Design
- Flexible Real Options Valuation
- Flexible Financial Options
- Flexible Energy Options
- Flexible Financial Investment Agreement
- Incorporated Flexibility Valuation
- Engineering Economics
Authors and Affiliations
-
School of Civil and Environmental Engineering, UNSW Australia, Sydney, Australia
David G. Carmichael
About the author
Professor Carmichael publishes, teaches, and consults widely in most aspects of project management, construction management, systems engineering, and problem solving. He is the author and editor of twenty-three books and over two hundred papers on structural and construction engineering and construction and project management, and has provided expert reports and expert testimony in cases involving structural failures, construction accidents and safety, and contractual and liability matters. His major consultancy work has included the structural design and analysis of civil and building structures; the planning and programming of engineering projects; the administration and control/replanning of civil engineering projects and contracts; and various construction and building related work.
Bibliographic Information
Book Title: Future-proofing—Valuing Adaptability, Flexibility, Convertibility and Options
Book Subtitle: A Cross-Disciplinary Approach
Authors: David G. Carmichael
Series Title: Management in the Built Environment
DOI: https://doi.org/10.1007/978-981-15-0723-6
Publisher: Springer Singapore
eBook Packages: Engineering, Engineering (R0)
Copyright Information: Springer Nature Singapore Pte Ltd. 2020
Hardcover ISBN: 978-981-15-0722-9Published: 07 February 2020
Softcover ISBN: 978-981-15-0725-0Published: 07 February 2021
eBook ISBN: 978-981-15-0723-6Published: 27 November 2019
Series ISSN: 2522-0047
Series E-ISSN: 2522-0055
Edition Number: 1
Number of Pages: XVI, 175
Number of Illustrations: 48 b/w illustrations
Topics: Engineering Economics, Organization, Logistics, Marketing, Project Management, Construction Management, Financial Engineering