Course Textbook
[Martland] = Martland, Carl D. Toward More Sustainable Infrastructure: Project Evaluation for Planners and Engineers. Wiley, 2011. ISBN: 9780470448762.
Project Evaluation: Essays and Case Studies, based upon the textbook, is available as two stand-alone volumes. Volume I provides an overview of project evaluation as a multi-dimensional process aimed at creating projects that meet the needs of society. Volume II examines the equivalence relationships that can be used to compare cash flows or economic costs and benefits over the life of a project.
| SES # | TOPICS | READINGS |
|---|---|---|
| L1 | Introduction and motivation; Initial discussion of project | Plotkin, Natasha. “To-do Maintenance: $2.1 Billion Required.” The Tech, January 19, 2011. |
| L2 | Introduction to public and private projects, evaluation methods and project evaluation checklists |
“Public Perspective: Economic, Environmental, and Social Concerns.” Chapter 4 in [Martland]. Gawande, Atul. “The Checklist.” Chapter 2 in The Checklist Manifesto. Metropolitan Books, 2009. ISBN: 9780805091748. Nakagawa, Manabu. “Macro-engineering: From the Grand Canal of China to the Colonization of the Moon.” Chapter 2 in Macro-Engineering Global Infrastructure Solutions. Edited by Frank P. Davidson, and C. Lawrence Meador. Ellis Horwood, 1993. ISBN: 9780135538760. |
| L3 | Stakeholder analysis and multi-attribute analysis |
“Introduction.” Chapter 1 in [Martland]. “Comparing Strategies for Improving System Performance.” Chapter 5 in [Martland]. Gawande, Atul. “The End of the Master Builder.” Chapter 3 in The Checklist Manifesto. Metropolitan Books, 2009. ISBN: 9780805091748. |
| L4 | Project costs and revenues; Stakeholder perspectives (public vs. private) |
“Systems Performance.” Sections 2.2.4, 2.4.2, and 2.8 in [Martland]. “Equivalence of Cash Flows.” Sections 7.1-7.3 in [Martland]. |
| L5 | Time value of money; Equivalence relationships | “Equivalence of Cash Flows.” Sections 7.4-7.8 in [Martland]. |
| L6 | Discount rates, minimally acceptable rate of return (MARR), rate of return on investment (IRR) |
“Choosing a Discount Rate.” Chapter 8 in [Martland]. Stolberg, Sheryl Gay. “Obama Unveils Wireless Expansion Plan.” New York Times, February 10, 2011. |
| L7 | Benefit cost analysis; Comparing alternatives; Financial and economic analysis |
“Financial Assessment.” Chapter 9 in [Martland]. “Rules of the Game: Taxes, Depreciation, and Regulation.” Chapter 10 in [Martland]. |
| L8 | Financing | “Public-Private Partnerships.” Chapter 12 in [Martland]. |
| L9 | Case: Panama Canal | “The Panama Canal.” Chapter 6 in [Martland]. |
| L10 | High speed rail (HSR) case |
Givoni, Moshe. “Development and Impact of the Modern High-speed Train: A Review.” Transport Reviews 26, no. 5 (2006): 593-611. Albalate, Daniel, and Germa Bel. “High-Speed Rail: Lessons for Policy Makers from Experiences Abroad.” Research Institute of Applied Economics Working Paper, Universitat de Barcelona, March 2010. |
| L11 | Term projects from previous years | |
| L12 | Quiz review | |
| L13 | Quiz (open-book, open-note) | |
| L14 | HSR Case (cont.) | Eilperin, Juliet. “Great Plains Oil Pipeline Plan Sparks Grass-roots Activism, High-stakes Lobbying.” Washington Post, January 23, 2011. |
| L15 | Introduction to uncertainty, stakeholder analysis and Mitchell framework | Mitchell, Ronald K., Bradley R. Agle, and Donna J. Wood. “Toward a Theory of Stakeholder Identification and Salience: Defining the Principle of Who and What Really Counts.” Academy of Management Review 22, no. 4 (1997): 853-886. |
| L16 | Dealing with uncertainty |
Sussman, Joe. “The Tsunami That Wasn’t.” Teaching Note, March 7, 2010. (PDF) ———. “How Little Mistakes Can Lead to Big Differences in Outcomes: The Weather.” Teaching Note, February 25, 2010. (PDF) |
| L17 | Dealing with uncertainty: Decision trees | Sussman, Joe. “Did Belichick Make the Right Call?” Teaching Note, February 19, 2010. (PDF) |
| L18 | Dealing with uncertainty: Real options | Sussman, Joe. “Real Options — A Simple Illustration.” Teaching Note, April 28, 2010. (PDF) |
| L19 | Case: Spent nuclear fuel, transportation to Yucca Mountain, Nevada | |
| L20 | Project evaluation in developing countries, Case: Pure Home Water in Africa | Nelson, Theresa, Cynthia Ingols, Jennifer Christian-Murtie, and Paul Myers. “Susan Murcott and Pure Home Water: Building a Sustainable Mission-Driven Enterprise in Northern Ghana.” Entrepreneurship Theory and Practice (2011). |
| L21 | Public private partnerships |
“Public-Private Partnerships.” Chapter 12 in [Martland]. “Towards More Sustainable Infrastructure.” Sections 15.1-15.2 in [Martland]. |
| L22 | Infrastructure banks | |
| L23 | Project presentations | |
| L24 | Project presentations (cont.) | |
| L25 | Project presentations (cont.) | |
| L26 | Wrap-up and summary |
