The course of Project evaluation focuses on appraisal and valuation. Appraisal deals with theories and methodologies for expressing an opinion of value about properties, investments and resources with a special attention to the following topics: pillars of Appraisal, market and cost value, financial evaluation of investments, feasibility studies. Are also introduced basics of Economics: demand, supply, markets, prices, costs, decisions and trade-offs.
More in deep, students will be addressed to the main methodological applications of the Appraisal principles: analysis of the economic factors employed in the construction process, real estate market survey, definition of opinion of values by the use of national and international approaches.
Risultati di apprendimento attesi
Students: know and understand the key principles and pillars of Appraisal and Valuation; are able to apply the principles of Appraisal and Valuation (Knowledge and understanding); are able to select the most adequate valuation method with respect to different valuation instances; are able to test the results of the valuation processes; are able to structure a valuation report and to discuss the results of the valuation processes; study and apply autonomously the theoretical principles.
The aim of the course is to provide the theoretical and operational principles of project appraisal and evaluation. Within this area of interest, students will acquire theoretical knowledge and operational skills related to: micro-economics, cost values, cost analysis and estimating, life cycle cost approach, market value, European Valuation Standards, basics of financial evaluation of investments, basic notions about feasibility studies, multi-criteria analysis.
The teaching method is based on theoretical lectures, group discussions and hands on exercises. A Project Work with an Evaluation report will be developed by the students in order to apply different evaluation techniques according to different design stages and instances. The expected learning outcomes include:
1) understanding advantages and limitations of main projects evaluation techniques;
2) understanding the key principles of cost analysis and estimating;
3) gaining first hand experience by applying Cost Analysis and Estimating, as well as Multi-criteria Analysis to a design studio project.
During the educational path the sequence of the courses and the order of registration of the related exam must follow the priority specified in the study programme regulation.
Modalità di valutazione
Students will be evaluated individually with respect to: 1) an evaluation report divided into three steps, each one is subjected to a midterm evaluation; 2) an oral exams about the theroretical principles and the methods applied within the evaluation report and explained during the course.
The three midterm steps of the report are evaluated on a scale that goes from D_Satisfactory (18-21); C_Good (22-24); B_Very good (25-27); A_Excellent (28-30L).
The final mark is based on the following criteria:
a) evaluation report's mark;
b) capability of critically discussing the results of the evaluation report;
c) capabilty of expressing the theoretical principles;