• Practical-oriented subject that builds upon theory and methods and culminates in extended application. Covers methods to identify, value, and implement flexibility in design (real options). Topics include definition of uncertainties, simulation of performance for scenarios, screening models to identify desirable flexibility, decision analysis, and multidimensional economic evaluation. Students demonstrate proficiency through an extended application to a system design of their choice. Complements research or thesis projects. Class is"flipped" to maximize student engagement and learning. Meets with IDS.333 in the first half of term. Enrollment limited.

• Textbook Information

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