This book uses modern economic tools to obtain general equilibrium cost-benefit rules. It not only presents evaluation rules for small projects but also shows how to evaluate large projects as well as mega projects (such as high speed rails and channel tunnels). This is an excellent toolkit for graduate students and policymakers.
In most cases of civil engineering development, a range of alternative schemes meeting project goals are feasible, so some form of evaluation must be carried out to select the most appropriate to take forward. Evaluation criteria usually include the economic, environmental and social contexts of a project as well as the engineering challenges, so engineers must be familiar with the processes and tools used. The second edition of Engineering Project Appraisal equips students with the understanding and analytical tools to carry out effective appraisals of alternative development schemes, using both economic and non-economic criteria. The building blocks of economic appraisal are covered early, leading to techniques such as net present worth, internal rate of return and annual worth. Cost Benefit Analysis is dealt with in detail, together with related methods such as Cost Effectiveness and the Goal Achievement Matrix. The text also details three multi-criteria models which have proved useful in the evaluation of proposals in the transportation, solid waste, energy and water resources fields: the Simple Additive Weighting (SAW) Model, the Analytic Hierarchy Process (AHP) technique and Concordance Analysis. There is a full discussion dealing with risk and uncertainty in these models. With many worked examples and case studies, Engineering Project Appraisal is an essential text for both undergraduate and postgraduate students on professional civil engineering courses, and it is expected that students on planning and construction management courses will find it a valuable addition to their reading.
This book provides an introduction to investment appraisal and presents a range of methods and models, some of which are not widely known, or at least not well covered by other textbooks. Each approach is thoroughly described, evaluated and illustrated using examples, with its assumptions and limitations analyzed in terms of their implications for investment decision-making practice. Investment decisions are of vital importance to all companies. Getting these decisions right is crucial but, due to a complex and dynamic business environment, this remains a challenging management task. Effective appraisal methods are valuable tools in supporting investment decision-making. As organisations continue to seek a competitive edge, it is increasingly important that management accountants and strategic decision-makers have a sound knowledge of these tools.
Project appraisal is the process of assessing the viability of a project in a systemic way at its initial ‘idea’ stage when information is minimal, but the decision, whether to go ahead with the project, is important. This book deals with the principles and practice of such appraisal process. It covers all the financial and economic aspects, including market and technical analysis, environmental appraisal, life cycle costing and SWOT analysis. This book starts with the basics of the subject followed by analysis of the project proposals from different perspectives for ascertaining their viabilities, including a brief discussion on uncertainty and risk analysis, important tools, and techniques. This book covers projects in almost all domains, such as engineering, management, medical science and so forth. Focuses on all possible aspects of project appraisal and selection Emphasizes differences from public and private projects in terms of financial and economic evaluations Provides step-by-step methods of analysis of multiple issues involved in the initial appraisal of projects Includes sections on ‘lessons learned' and 'learning from experience’ illustrating applications of the process and implications Covers feasibility analysis, including both technical aspects and financial evaluation This book is aimed at professionals, graduate students in civil and industrial engineering, business management, project management, project appraisal, including entrepreneurs for their start-up projects. Utpal K. Ghosh is a Chartered Engineer, a Fellow of the Institution of Engineers (India), a Member of the Institution of Civil Engineers (UK) and a Member of the Institution of Structural Engineers (UK).
Project Appraisal and Financing, now in its Second Edition, is thoroughly revised and updated. While retaining its basic character, the subject matter has been further simplified, rationalized, abridged and enhanced qualitatively in virtually every chapter. In view of the ever-growing ecosystem of startups in our country, a new chapter on Startups and Their Funding has been added in the book. Primarily intended for the students of MBA/PGDM/PGDBM and other allied courses such as MFC and MBE, the latest edition will also be of immense value to the students of CA, CWA, CS, CFA, CPA and CAIIB. Besides, it will be equally beneficial for the executive development and in-company training programmes on project appraisal and financing. Project finance executives in consulting firms and lending institutions and banks will also be benefited from the book due to its practical orientation. KEY FEATURES • Comprehensive coverage and treatment of the subject matter. • Practical approach in dealing with the subject, thus making the text easy-to-comprehend. • Large number of varying illustrations and exercises. • Large number of case studies, including 2 (written by the author) registered with The Case Centre UK/USA. • A new chapter on Startups and Their Funding. TARGET AUDIENCE Students of: • MBA/PGDM/PGDBM • MFC and MBE • CA, CWA, CS, CFA, CPA and CAIIB
The appraisal of events that have uncertain outcomes is discussed with particular reference to a feasible method for evaluating the riskiness of investment projects. The essence of the uncertainty problem is that many of the variables affecting the outcome of a particular plan are outside of the planner's control. Uncertainty, which is relevant for most decisions, is best characterized in terms of a decision agent's subjective beliefs about probabilities. The probabilistic approach lends itself best to an appraisal of possible outcomes of a project that is affected by uncertainties from many sources. Probability judgments about many basic variables and parameters affecting the final outcome can be aggregated into an estimate of the probability distribution of that final outcome. This aggregation method is demonstrated for calculation of the economic returns of a project. The method of approximation by a simulated sample is described, and its application to probability distribution rates of returns from actual projects is explained. The preparation of a mathematical model is detailed, emphasizing the usefulness of computerized calculations. Fourteen tables and nine figures are provided.
Project Management and Appraisal is a comprehensive textbook specially designed to meet the requirements of post graduate management students specializing in Finance and/or in Operations. It aims to familiarize the readers with the core concepts of project management including its planning, execution, control and appraisal. Written with a managerial perspective, the book is divided into 4 parts. Part I, Introduction to Project Management, gives an overview of project management along with its phases, network diagrams and the microsoft project management software. Part II, Project Appraisal, elucidates about the various appraisal methods in project scanning and selection including technical, social and financial appraisal. Following this, the book discusses the fundamentals of capital budgeting decisions, risk analysis models, financial forecasting, strategies used for managing the risk and real options. The book also includes a chapter regarding project appraisal in international context. Chapters in Part III, Project Planning, Execution and Control, enumerate about the project life cycle planning, inputs required for project planning and the reasons for cost and time over-run. This part, also, explores the execution, including budgeting and scheduling, and the importance of control and audit of a project. Management of e-projects and the future of project management are covered in Part IV, Project Management-The Future. The book also includes appendices on regulatory framework in project appraisal, tables on the several discounted & compounded factor for various rate & time periods and the detailed project report. Owing to its comprehensive coverage and approach, students will find this book valuable. It will also serve as a veritable guide for the professionals because of the various case study discussions.
The techniques and methods of project appraisal in developing countries have been considerably expanded and refined since they were first introduced in the late 1960s. This up-to-date and authoritative survey volume demonstrates the ways in which cost-benefit analysis has developed in response to changes in economic circumstances and conditions over the past three decades. An international group of academic and professional economists covers areas including problems in the practical application of cost-benefit techniques by international agencies, the treatment of income distribution, discounting, the effects method, the logical framework as a complement to project appraisal, aid tying, risk criteria in decision making, benefit valuation in the water sector, the appraisal of technical assistance projects, privatization in transition economies and shadow pricing in transition economies. Professor Kirkpatrick and Professor Weiss have prepared an insightful overview essay introducing the broad selection of work presented in this volume.
