AIMS AND CONTENT

LEARNING OUTCOMES

The course deals with the theoretical and operational tools related to the economic evaluation of building projects, with particular reference to those of energy, functional and structural retrofitting.

AIMS AND LEARNING OUTCOMES

 Attendance and participation in theoretical lessons and exercises will allow the student to:
- recognize the costs and benefits related to an energy or structural retrofitting intervention on a building;
- estimate, through the appropriate methodologies, the costs and benefits over time deriving from the energy or structural retrofitting of a building;
- assess the economic and financial feasibility of retrofitting interventions also for the purpose of selecting the best alternative option;
- evaluate the effects produced by inflation on costs and benefits over time;
- recognize and evaluate the risk factors and uncertainty of the interventions and the effects on the economic feasibility of the intervention;
- draw up an economic-financial feasibility report relating to an energy or structural retrofitting of a building

TEACHING METHODS

The module is divided into lectures on theoretical tools and classroom exercises in the form of applicative exercises; attendance is recommended.
For the purpose of the exam, each student will have to develop and deliver the economic-financial evaluation of some energy retrofitting interventions of a building and evaluate their convenience.

Working students and students with certification of SLD, disability or other educational needs special to contact the teacher at the beginning of the course to agree teaching and examination methods that, in compliance with the objectives teaching, take into account learning methods
individual.

SYLLABUS/CONTENT

The module is divided into two parts.
The first part will deal with the theoretical tools for estimating the costs and benefits deriving from the energy or structural retrofitting interventions with particular reference to the trend of costs and benefits within the useful (or economic) life of the building.
In the second part of the module an example of economic-financial evaluation of an energy retrofitting intervention on a residential building will be developed and the case study on which students will have to develop a similar evaluation will be presented.

RECOMMENDED READING/BIBLIOGRAPHY

Boardman, A.E., Greenberg, D.H., Vining, A.R., Weimer, D.L., 2016, Cost-Benefit Analysis: Concepts and Practice, 3rd edition,  Upper Saddle River, New Jersey: Pearson Prentice Hall. Brown G.R., Matysiak G.A., 2000, Real Estate Investment – A Capital Market Approach,  Financial Times Prentice.

European Union, 2003, Life Cycle Costs in Construction.

Kahr J., Thomsett M.C., 2005, Real Estate Market Valuation and Analysis, John Wiley & Sons, Inc.

Linneman P., 2004, Real Estate Finance and Investments: Risks and Opportunities, Linneman Associates, Philadelphia, PA (United States).

Mooya M.M., 2016, Real Estate Valuation. Theory. A Critical Appraisal, Springer.

Peca S. P., 2009, Real Estate Development and Investment. A Comprehensive Approach , Wiley & Son Inc., New Jersey.

Peijie Wang,  2001, Econometric Analysis of the Real Estate Market and Investment, Routledge, London.

Ruegg T., Marshall H., 1990, Building Economics. Theory and Practice, Springer Science+Business Medi.

Seeley I.H., 1996, Building-economics - four edition- , Palgrave, McMillan.

TEACHERS AND EXAM BOARD

Exam Board

PAOLO ROSASCO (President)

NOVELLA TALA' (President)

MARCO RABERTO

LUCA ANTONIO TAGLIAFICO

LESSONS

LESSONS START

Secon semester

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

The exam is in written form and consists of a test with open questions relating to the topics covered in the module.
To access the exam, the student must deliver the exercise on the evaluation of the economic and financial feasibility of an energy retrofitting intervention of a building assigned by the teacher.

ASSESSMENT METHODS

The exam will verify the student's acquisition of the methodologies for assessing the economic and financial feasibility of energy and / or structural retrofitting interventions.
The overall assessment will take into account both the results of the written test and the exercises developed individually by the students.
In particular, the student must demonstrate that:
• recognize the costs and benefits deriving from a retrofitting intervention on a building;
• knowing how to estimate the costs and benefits deriving from the intervention;
• knowing how to apply the evaluation tools (Cost-Benefit Analysis) to verify the economic and financial sustainability of a retrofitting intervention on a building;
• knowing how to identify and evaluate the risk factors of the interventions and their effects on the economic and financial feasibility.

Exam schedule