OVERVIEW

The course intends to address the estimative problems inherent in the processes of building and urban transformation, from the planning phase to the planning and execution phase.

The economic evaluation of the projects is one of the fundamental aspects for the feasibility of an intervention.

In particular, the following estimation methodologies are addressed to:

- the cost of a project;

- the real estate value, with particular reference to the estimation methodologies defined by the Italian appraisal school and by the International Valuation Standards (IVS).

AIMS AND CONTENT

LEARNING OUTCOMES

No student training prerequisites are required

AIMS AND LEARNING OUTCOMES

 At the end of the course the student will be able to:

1. to know which are the performances and the economic costs connected to a building intervention (project);

2. identify the main economic variables that determine the formation of costs and market values of a building intervention;

3. select the appropriate estimation methods for forecasting the costs and market values of a building project;

4. correctly apply the methodologies for estimating costs and real estate property values;

5. analyze the results obtained from the application of the estimation methodologies to issue them in relation to the project objectives.

PREREQUISITES

No student training prerequisites are required

TEACHING METHODS

The educational path is developed according to three levels:

- lessons in the classroom;
- In-depth thematic analysis through the consultation of materials made available online (on Aulaweb of the course) by the teacher;
- Practical activity through the elaboration of an exercise concerning an estimate to be carried out individually or in groups.

SYLLABUS/CONTENT

The course is divided into two parts:
FIRST PART

- Meaning of evaluation and estimation - definition of valuation - estimation postulates

- Types of costs in construction, synthetic and analytical estimation methodologies of the cost of a building intervention.

SECOND PART

- Definition of market value of a property

- Direct and indirect methods of estimating the real estate value of a property. Direct comparison - Direct capitalization

- The International Valuation Standards. Market Comparison Approach.

EXERCISE

The student will develop an exercise of choice on one of the following topics:

1. estimate of the construction cost of a building intervention by a bill of quantities;

2. estimate the market value of a real estate property.

For students of the Landscape curriculum, the exercise will have as its object the estimate of the cost of a green accommodation project proposed by the students and related to a project developed in the design courses.

RECOMMENDED READING/BIBLIOGRAPHY

• Slides of course (available on AulaWeb web site course).
• AA.VV., 1994, Manuale di progettazione edilizia, Hoepli, Milano. 
• Forte C., De Rossi B., 1996, Principi di economia ed estimo, ETAS, Milano.
• Gabrielli L., Lami I., Lombardi P., 2011, Il valore di mercato. Note di lavoro per la stima del valore di mercato di un'immobile, Celid, Torino.
• Grillenzoni M. e Grittani G., 1994, Estimo: teoria, procedure di valutazione e casi  applicativi, Edagricole, Bologna.
• Michieli I., 1998, Trattato di estimo, Edagricole, Bologna.
• Roscelli R., 2014, Manuale di estimo. Valutazioni Economiche ed esercizio della professione, UTET, Torino.  
• Simonotti M., 1997, La stima immobiliare, UTET, Torino.
• Id., 2006, Metodi di stima immobiliare, Dario Flaccovio Editore, Palermo.
• Utica G., 2008, Ingegnerizzazione e gestione economica del progetto, Maggioli Editore, Santarcangelo di Romagna.
• Id., 2011, La stima sintetica del costo di costruzione, Maggioli Editore, Santarcangelo di Romagna.

TEACHERS AND EXAM BOARD

Exam Board

PAOLO ROSASCO (President)

MARCO LARI

GIUSEPPE VALVO

LESSONS

LESSONS START

Last week of February 2023 (second semester)

Class schedule

The timetable for this course is available here: Portale EasyAcademy

EXAMS

EXAM DESCRIPTION

The exam is in written form. The duration of the test is two hours. The student will have to answer four open quest.ons concerning the topics covered in class.

In case of exams to be carried out online, these will be in oral form.

ASSESSMENT METHODS

The assessment of the learning by the student of the theoretical and operational tools takes place:

• through the evaluation of the exercise (compulsory);
• through the evaluation of the written test.

The written test will allow the student's ability to:

• recognize here the significant economic aspects for the solution of the estimative questions that are faced during the development of a building and urban planning project;
• solve the estimation questions through the use of estimation tools.

The exercise will allow to evaluate the student's ability to use the estimative methodologies learned during the course and related to the estimation of the cost and market value of a project.

The final mark will include the evaluation of the written test and the exercise.

Exam schedule

FURTHER INFORMATION

Students can, as an alternative to the exercise topics proposed by the teacher, propose applications related to the estimation of the costs or property values related to case studies treated in other courses or subject of degree thesis.

For students in the "Landscape" curriculum the exercise will have as its object the estimation of the cost of a green area project proposed by the student.