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001 978-981-15-0723-6
003 DE-He213
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008 191127s2020 si | s |||| 0|eng d
020 _a9789811507236
_9978-981-15-0723-6
024 7 _a10.1007/978-981-15-0723-6
_2doi
050 4 _aHD28-70
072 7 _aTBC
_2bicssc
072 7 _aKJM
_2bicssc
072 7 _aTEC000000
_2bisacsh
072 7 _aTBC
_2thema
072 7 _aKJM
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082 0 4 _a658.5
_223
100 1 _aCarmichael, David G.
_eauthor.
_4aut
_4http://id.loc.gov/vocabulary/relators/aut
_946224
245 1 0 _aFuture-proofing—Valuing Adaptability, Flexibility, Convertibility and Options
_h[electronic resource] :
_bA Cross-Disciplinary Approach /
_cby David G. Carmichael.
250 _a1st ed. 2020.
264 1 _aSingapore :
_bSpringer Nature Singapore :
_bImprint: Springer,
_c2020.
300 _aXVI, 175 p. 48 illus.
_bonline resource.
336 _atext
_btxt
_2rdacontent
337 _acomputer
_bc
_2rdamedia
338 _aonline resource
_bcr
_2rdacarrier
347 _atext file
_bPDF
_2rda
490 1 _aManagement in the Built Environment,
_x2522-0055
505 0 _aIntroduction -- A General Formulation -- Adaptable Infrastructure -- Project Delivery -- Convertible Contracts -- Real Options -- Investment -- Financial and Energy Options -- Discussion and Conclusions.
520 _aThis book presents a unifying approach to the valuation of incorporated flexibility. Flexibility, in general terms, recognizes future uncertainty and refers to being proactive now so as to secure the future possibility of being able to adapt, convert, or generally introduce a change, if it is worthwhile to do so at the time. That is, deliberate provision is made now in order to have the ability (but not the obligation) to adapt, convert, or change in the future; this change is discretionary, and depends on future circumstances. The applications demonstrated here cover engineering, building, housing, finance, economics, contracts, general management, and project management. The examples are as follows: designing/building features in infrastructure (including buildings and houses) such that the infrastructure can be adapted in response to future changes in climate, demographics, or usage; incorporating features in contracts such that the terms and conditions can be changed in response to changing situations; purchasing rights now such that options exist to buy or sell an asset in the future; structuring a financial investment agreement so that its terms and conditions can be changed in the future; structuring project payments to provide future guarantees of revenue if needed; and designing an operation such that it can be expanded, contracted, abandoned, switched, changed, delayed, or deferred in the future. The level of required mathematics is kept at a very modest level: an undergraduate knowledge of algebra and probability is all that is required. Numerical examples, accompanied by readily understandable diagrams, illustrate the methods outlined. The formulations are kept straightforward and accessible for practitioners and academics alike.
650 0 _aIndustrial Management.
_95847
650 0 _aProject management.
_93328
650 0 _aConstruction industry—Management.
_946225
650 0 _aFinancial engineering.
_946226
650 1 4 _aIndustrial Management.
_95847
650 2 4 _aProject Management.
_93328
650 2 4 _aConstruction Management.
_946227
650 2 4 _aFinancial Engineering.
_946228
710 2 _aSpringerLink (Online service)
_946229
773 0 _tSpringer Nature eBook
776 0 8 _iPrinted edition:
_z9789811507229
776 0 8 _iPrinted edition:
_z9789811507243
776 0 8 _iPrinted edition:
_z9789811507250
830 0 _aManagement in the Built Environment,
_x2522-0055
_946230
856 4 0 _uhttps://doi.org/10.1007/978-981-15-0723-6
912 _aZDB-2-ENG
912 _aZDB-2-SXE
942 _cEBK
999 _c77821
_d77821