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New generation whole-life costing: property and construction decision-making under uncertainty [electronic resource]

By: Contributor(s): Language: English Publication details: Abingdon Taylor & Francis 2006Description: eBookISBN:
  • 0415346576
  • 9780203624425
Subject(s): LOC classification:
  • 692.5 $2 18
Online resources: Summary: 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, minimising 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 presentation of basic principles and mathematical techniques allowing the book to be read either as an introduction to new concepts, or as a guide to mathematical methods.
Holdings
Item type Current library Call number Copy number Status Date due Barcode
Book Virtual Online EBOOK (Browse shelf(Opens below)) 1 Available 133846-3001

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, minimising 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 presentation of basic principles and mathematical techniques allowing the book to be read either as an introduction to new concepts, or as a guide to mathematical methods.