This is a modified version of the syllabus for the course 1.011 Project Evaluation that was used in the 2007 spring term, which was the final version of the subject as taught by Carl Martland. Following his retirement from MIT, Mr. Martland published Project Evaluation: Essays and Case Studies Volumes I and II which was based upon the lectures, lecture notes, presentations, and case studies that he had developed for the course. The readings included in this modified syllabus are nearly all available in these two volumes. This syllabus is included here to help OCW users understand how these two volumes may be used in classroom teaching. The Related Problem Sets will also be useful in this effort.
| Session | Topics and Readings | Handouts/Due |
|---|---|---|
| Part I: INTRODUCTION TO CEE PROJECTS | ||
| 1 |
Class Overview: CEE Projects & Sustainable Development “Introduction” (Vol. I, pp 1–13) “Panama Canal Case Study” (Vol. I, pp. 86–99) |
Handouts Problem Set 1 Panama Canal Case Study Term Project |
| 2 |
Cost Concepts and Design Economics “Basic Economic Concepts” (Vol. I, pp. 14-33) “An Engineering-Based Service Function for Bus Operations” (Vol. II, pp. 97–98) |
<none> |
| 3 |
Mobility in the 19th Century: Roads, Canals, and Railroads “Evolution of Infrastructure-Based Systems” (Vol. I, pp. 65–80) “Canal Projects in the Early 19th Century” (Vol. II, pp. 102–112) “Evolution of the U.S. Railroad System (Vol. I, pp. 121–127) |
<none> |
| 4 |
Cost Functions & Revenue Functions “System Performance” (Vol. II, pp. 3–19) “Capacity of a Highway Intersection” (Vol. II, pp. 99–102) |
Handouts Due |
| 5 | Panama Canal Case Study | <none> |
| PART II: TIME AND MONEY | ||
| 6 |
Time & Money: The Principle of Equivalence “Equivalence of Cash Flows” (Vol. II, pp. 20–29) |
<none> |
| 7 |
Time & Money: Nominal and Effective Interest Rates & Continuous Compounding “Continuous Compounding: Nominal vs. Effective Interest Rates” (Vol. II, pp. 29–31) |
Handouts Due |
| 8 |
Choosing a Discount Rate “Choosing a Discount Rate” (Vol. II, pp. 39–52) |
<none> |
| 9 |
Quiz Review: Comparing and Ranking Cash Flows (Basic Methods - PW, FW, AW, IRR, ERR) “Equivalence of Cash Flows” (Vol. II, pp. 20–38) |
Due Problem Set 3 |
| 10 | Quiz 1. Topics: Basic Cost Concepts; Breakeven Analysis; Equivalence; Choice of Discount Rates; Motivation for Projects | <none> |
| PART III: COMPARING ALTERNATIVES | ||
| 11 |
Financial Assessment of CEE Projects “Financial Assessment” (Vol. II, pp. 52–65) “Building an Office Tower in Manhattan” (Vol. II, pp. 113–116) |
Handouts Problem Set 4 Skyscraper |
| 12 |
Multiple Perspectives – Public vs. Private Projects “Public Perspective: Economic, Environmental, and Social Concerns” (Vol. I, pp. 34–47) “Public Private Partnerships” (Vol. I, pp. 53–64) |
<none> |
| 13 |
Social Impact Assessment for CEE Projects Frank Vanclay and Daniel A Bronstein, ed., “Social Impact Assessment,” Environmental and Social Impact Assessment, Chapter 2, 1993 The Interorganizational Committee on Principles and Guidelines for Social Impact Assessment, “Principles and Guidelines for Social Impact Assessment in the USA,” Impact Assessment and Project Appraisal 21 (3), September 2003: pp. 231–250 |
Handouts Paper Topics |
| 14 | Guest Lecture: Social and Environmental Sustainability | <none> |
| 15 |
Multiple Decision Criteria “Comparing Strategies for Improving System Performance” (Vol. I, pp. 48–52) |
Handouts Due |
| PART IV: ASSESSING SUSTAINABILITY | ||
| 16 |
CEE Projects and Public Needs: Accessibility “Public Incentives for Low-Income Housing” (Vol. II, pp. 120–121) |
<none> |
| 17 |
CEE Projects and Public Needs: Water and Transportation Projects “Applying Performance-Based Technology Scanning to Intercity Passenger Transportation” (Vol. II, pp. 130–138) |
Handouts Due |
| 18 |
CEE Projects and Public Safety: Probabilistic Risk Analysis EE Chapter 13 |
<none> |
| 19 | Video: “Cadillac Desert: Mulholland’s Dream (Water and the Transformation of Nature)” | <none> |
| 20 |
Project Planning & Management: Using Sensitivity Analysis, Scenarios, and Partnerships to Understand and Deal with Uncertainty “Dealing with Risks and Uncertainties” Vol. II, pp. 81–96) “Using a Probabilistic Model to Investigate Financial Risks” (Vol. II, pp. 127–129) |
Handouts Due |
| 21 |
Public Policy: How Taxes and Regulations Influence Sustainability of Projects & Programs “Rules of the Game: Taxes, Depreciation, and Regulation” (Vol. II, pp. 66–80) |
<none> |
| 22 |
Improving Projects & Programs: Reducing Risks, Reducing Costs, More Equitable Sharing of Benefits, Reducing Negative Social or Environmental Impacts, Improving Quality “Financing a Bridge Project” (Vol. II, pp. 121–126) |
Due Problem Set 7 |
| PART V: CEE PROJECT REPORTS | ||
| 23 | Quiz 2. Topics: Ranking Mutually Independent Alternatives; Using Depreciation and Taxes to Promote Public Policy; Cost Effectiveness; Assessing Sustainability Issues | <none> |
| 24 |
How to Critique a Project: Planning your Presentation, Structuring a Project Report, and Writing an Executive Summary Rosales and Gottemoeller, “Urban Design Considerations for the New Woodrow Wilson Memorial Bridge: Competition-Winning Design for Metropolitan Washington, DC,” Journal of the Transportation Research Board 1740(1740): pp. 104–107 |
<none> |
| 25 |
The Interstate Highway System: Vision, Design, and Impacts (20-minute presentation followed by class discussion of sustainability issues related to highways) Reich, L.S. “The Dawn of the Truck,” Invention & Technology 16 (2): Fall 2000 |
Due Powerpoint Presentations |
| 26 - 29 | Project Presentations by Students | |
