In light of the recent financial crisis in Europe and the increasing importance of sustainability in construction, insights and practical guidance for financial evaluation and risk management of infrastructure projects are extremely valuable for a well-planned future. According to the International Organization for Standardization (ISO 15686, 2009), the life cycle cost of infrastructure projects includes the cost of construction, operation, maintenance, and the end-of-life phases. Each stage includes hypotheses regarding the financial costs and costs considering several risks that might be encountered during the construction and service life of an infrastructure project. The correct and early estimation of these risks may guarantee the viability of the project.

The Financial Evaluation and Risk Management of Infrastructure Projects delves into an intriguing issue and encompasses all the stages of a project from its concept that initially attempts to serve a need to the minimization of its service value. Cost-benefit analysis is indisputably considered an essential element among various evaluation methods for fostering optimal decision-making and ranking infrastructure projects over decades. Life cycle cost aspects became an important tool of knowledge about how to optimize an investment from the early stages of designing an infrastructure project.

Financial Evaluation and Risk Management of Infrastructure Projects is a comprehensive guide for professionals and students in the fields of construction and investment, as well as financial and investment institutions. The book covers all stages of a project, from its concept to the minimization of its service value and highlights the importance of life cycle cost aspects in optimizing infrastructure project investments. The book also discusses the valuation of assets via the "future economic benefits" approach as a correct asset management accounting, which can prevent over and under estimation of investments and repair debt. The book emphasizes the need for cost-effective and sustainable infrastructure projects that incorporate "value for money" construction solutions, taking into account all risks involved. This book is ideal for professionals in the field of construction, investment institutions, students in construction and investments, and financial and investments institutions.

Coverage:

The many academic areas covered in this publication include, but are not limited to:

Behavioral Finance and Financial Evaluation
Cost of Infrastructure Projects
Infrastructure Projects
Investment Projects
Multicriteria Evaluation
Quantitative Evaluation in Infrastructure Projects
Risk Management
Service Value of Assets
Value Engineering

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Editor/Author Biographies

Kleopatra (Klery) Petroutsatou is Associate Professor at Aristotle University of Thessaloniki, Faculty of Engineering, Dpt. of Civil Engineering, Laboratory of Planning and Project Management. Her area of expertise is Construction Equipment, Cost and Management of Civil Engineering Projects. She holds a Diploma of Civil Engineering (Structural Division) from National University of Athens (NTUA). She holds a M.Sc. in Engineering Business Management (Hons) from University of Warwick in UK. She holds a PhD (Doctor Engineer) from Civil Engineering School of NTUA. She is reviewer in international scientific journals and conferences. She has submitted research proposals as leading coordinator in european and national research programs. She has completed two scientific programs as one of the main researchers. She has publications in international scientific journals and announcements in international conferences. She has supervised a large number of undergraduate and postgraduate thesis and she has been member of committees for PhDs awards. From 1997 until 2012, she has worked in the private and public sector as auditor and consultant in technical companies and infrastructure projects. For three years she was member of the technical team at the office of the General Secretary for Concessions of the Ministry of Public Works in Greece.

Constantin Zopounidis is Professor of Financial Engineering and Operations Research, at Technical University of Crete (Greece), Distinguished Research Professor in Audencia Business School (France), and Senior Academician of both the Royal Academy of Doctors and the Royal Academy of Economics and Financial Sciences of SpainHe is also elected President since early 2012, of the Financial Engineering and Banking Society (FEBS). He is Editor in the book series on Multiple Criteria Decision Making and Cooperative Management (Springer). He is also elected President since early 2012, of the Financial Engineering and Banking Society (FEBS). In recognition of his scientific work, he has received several awards from international research societies. Recently, in 2012 he was the recipient of the Long-lasting Research Contribution Award in the field of Financial Engineering & Decision Making by ESCP Europe. In 2013 he received the Edgeworth-Pareto prestigious Award from the International Society of Multicriteria Decision Making and in 2015 he received the Award for Outstanding Contribution to Research in Management Science and Decision Making by Audencia Business School. In 2018, the Aristotle University of Thessaloniki awarded him the title of Honorary Doctor. He has edited and authored 100 books in international publishers and more than 500 research papers in scientific journals, edited volumes, conference proceedings and encyclopaedias in the areas of finance, accounting, operations research, and management science.

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