101-0530-00L Real Options for Infrastructure Management
|Periodizität||jährlich wiederkehrende Veranstaltung|
|Kommentar||Number of participants limited to 12.|
|Kurzbeschreibung||The course will provide an introduction to the paradigm of flexibility/ real option for infrastructure management. It will also provide insights on the tools to model uncertainty and class applications on example cases.|
|Lernziel||Upon successful completion of this course students will be able:|
- To recognize and model uncertainty affecting infrastructure;
- To identify possible interventions on infrastructure
- To develop dynamic model for simulating future scenarios, considering uncertainty
|Inhalt||Part 1: Introduction to the concept of flexibility in engineering, including the problem of the flaw of average on traditional engineering design processes.|
Part 2: Explanation of the real option methodology and of the main methods for uncertainty modelling, including binomial trees and Monte Carlo simulations.
Part 3: Application in class of the real option methodology on two example cases.
|Literatur||A list of relevant publications for the course will be given out before the first class.|