|L1||Introduction: course organization and learning objectives, uncertainty exercise, Garage case concepts|| |
Zhang, Na. "Difficulty in Identifying Trend and Volatility of Price Indices: Examples from International Real Estate Market." MIT, 2010.
de Neufville, chapter 1
———, "Thesis Manual."
|L2||Discounting: standard and certainty-equivalence||Geltner, chapter 10 (including appendix C)|
|L3||Economic model of options applied to real estate||Geltner, chapter 27|
|L4||Economic model of options (cont.): underlying asset dynamics and GIGO issues||Geltner, chapters 27 and 29 (appendix)|
Design structure matrix (DSM)
Identification of points of flexibility
|Bulloch, Benjamin, and John Sullivan. "Application of the Design Structure Matrix (DSM) to the Real Estate Development Process." Master's thesis, MIT, 2009.|
Discussion of development process
|Bartolomei, Jason E. "Qualitative Knowledge Construction for Engineering Systems: Extending the Design Structure Matrix Methodology in Scope and Procedure." PhD dissertation, MIT, 2007.|
|L7||Garage case: detailed analysis and exposition of "engineering analysis approach"|
Satellite fleet case
de Neufville, chapter 6
Ohama, Dai. "Flexible Design of Airport System Using Real Options Analysis: Case Study of New Runway Extension Project of Tokyo international Airport." 1.231 project, MIT, 2007.
Discussion of Monte Carlo analyses
Workshop on finalizing your reports
|L10||Flexibility in real estate development – case examples of vertical and horizontal expansion||de Neufville, appendix|
|L11||Scheduled reviews with teams: what does your model teach us?|