93713 - COST ANALYSIS

Conoscenze e abilità da conseguire

At the end of the course the student will be able to define the use of economic resources needed for the realization of the project choices.

Contenuti

AIM OF THE COURSE

The objective of the teaching module "Cost Analysis" is to equip students with theoretical and operational cost analysis and project economic appraisal techniques to support the most sustainable transformation in the built environment.

 

MAIN CONTENTS

 

The Cost Analysis programme focuses on the following topics:

 

1 Cost Analysis: Introduction to the Course

2 Principles of Economic Appraisal:

2.1 Cost values, cost analysis and estimating

2.2 Financial Mathematics

3. Decision-Making/Aiding:

3.1 Stakeholders Analysis;

3.2 SWOT Analysis;

3.3 Composite Index Evaluation;

3.3 Scenario building;

3.4 Multicriteria Decision Analysis.

4. Project Economic Appraisal:

4.1 Business Plan;

4.2 Bill of Quantities;

4.3 Financial Recovery Plan;

4.4 Discounted Cash-Flow Analysis;

4.5 Cost-Benefits Analysis;

4.6 Risk analysis.

 

The slides will be systematically uploaded on the Virtuale platform some days before the lectures.

 

Testi/Bibliografia

The slides of the Course can support the study of Cost Analysis arguments, according to the following bibliographic references: 

 

On Economic Appraisal Principles:

• IVSC (2024). International Valuation Standards. Page Bros, Norwich url
• TEGOVA (2025). European Valuation Standard, Blue book. url
• Romagnoli S. (2019). Mathematical Finance- Theory, Esculapio

 

On Project Economic Appraisal:

• EU Commission (2014). Guide for Cost-Benefit Analysis of Investment Projects url

• Globerson, S. (1994). Impact of various work-breakdown structures on project conceptualization. International Journal of Project Management, 12(3), 165–171. url

• Copiello, S. (2016). A Discounted Cash Flow variant to detect the optimal amount of additional burdens in Public-Private Partnership transactions. MethodsX,Volume 3, 2016, Pages 195-204. url

• RICS (2021). New rules of measurement Detailed measurement for building works 2nd edition UK NRM 2: DETAILED MEASUREMENT FOR BUILDING WORKS. (October), 151–223.  url 

 

On Decision-Making/Aiding:

• Dente. B. (2013). Understanding Policy decisions. Springer, Cham.
• Yang, R.J. (2014). An investigation of stakeholder analysis in urban development projects: Empirical or rationalistic perspectives, International Journal of Project Management, Vol 32, 5, Pages 838-849 url
• Dodgson, J. S., Spackman, M., Pearman, A., & Phillips, L. D., Multi-criteria analysis: a manual url

 

The bibliography can be integrated during the lessons by the student request. Furthermore, the professor will use the Virtuale platform by Unibo in order to give the students the necessary documentation and material for the development of the delivery.

 

Metodi didattici

The lectures are in-presence and usually organised into two parts. Firstly, theoretical arguments will be explained by the professor. In the second part of each lecture, students must proactively work in teams to acquire confidence in the employment of the evaluation techniques and also understand the impact of decision solutions.

Modalità di verifica e valutazione dell'apprendimento

COST ANALYSIS DELIVERY (ONLY FOR ATTENDING STUDENTS)

A real case study located in Emilia-Romagna region will be provided by the teacher to the students organised in teams.

The delivery requires the development of a portfolio in that the team must develop an economic evaluation of a private/public project at building or urban level, by taking into account site characteristics and stakeholders needs.

A synthetic version of the portfolio will be presented by each team the last day. The positive valuation of the delivery is obtained by the weighted average sum between the final presentation (20%) and the portfolio (40%) to access to the written test.

The portfolio mark must satisfy the following evaluation criteria:

1. Consistency: all parts of the delivery are properly developed;

2. Completeness: the delivery is complete in all its parts;

3. Readiness: Care for the communication in both graphic and written style;
4. Artificial Intelligence's Contribution: positive or negative. For more students are invited to read the UNIBO's policy on AI, with attention on the section addressed to students;

5. Pro-active behavior during the course: Participation to the lectures, periodic check of the exercise with the teacher, etc.

 

COST ANALYSIS EXAM - WRITTEN TEST

 

ATTENDING STUDENTS

A positive valuation of the delivery allows students to enroll to the semi-structured written exam to verify the comprehension of the theoretical part of every single student (40%).

The written test consists of 30 semi-structured questions. For each correct answer= range 1-2 points (it depends on the level of difficulty of the answer);whereas for each wrong answer=0 point.

Time to fill the written test: 90 minutes.

 

NON-ATTENDING STUDENTS

Non-attending students must not work in group and deliver a portfolio, since they will be evaluated individually through a written exam (100%) aimed at evaluating the knowledge of the Cost Analysis programme.

Non-attending students will directly receive the mark of the written test according to the rules above.

 

 

GLOBAL MARK OF SUSTAINABLE BUILDING PROCESS WORKSHOP

The global mark of Sustainable Building Process Workshop is the weighted average sum between the final mark of Cost Analysis and the final mark of Advanced Building Site. The grades will be weighted with their own credits.

Strumenti a supporto della didattica

Personal Laptop, Slides, Shared working platform, Projector, Workshop.

Note: Students are asked to bring their own laptop to conduct the workshop in class.

 

 

Orario di ricevimento

Consulta il sito web di Vanessa Assumma