The course “Project and Investment Appraisal” aims at contributing to an understanding of the fundamental principles of project planning and evaluation and how these principles can be applied to the planning and management of private and public projects or investment. The course focuses on the description and analysis of project and investment development objectives, the basic methods of financial analysis, analyzes the evaluation methodologies of private and public works and investments, and the relationship of investment to regional and urban development. In addition, the course includes an analysis of the locational choice of an investment and the legislation that governs the financing and financing of private investment, while typical exercises and case studies are presented and discussed. It also includes a series of exercises and practical problems related to the application of the methodologies presented in the theoretical part, with the aim of getting students acquainted with the reality and to be able to effectively plan projects and investments.
How they specialize in the following categories
Students have mastered the basic concepts and theories and methodologies of project and investment evaluation, as evidenced by the successful work preparation and final examination. Thus, at the end of their studies, students acquire a complete picture of the process of planning – evaluation – management – planning and implementation of public and private sector development actions (public and private projects and investments) and they are equipped with knowledge and experience that approximate as much as possible daily practice, in Greece and internationally.
Students at the end of the course have acquired the ability to apply knowledge to real problems, as evidenced by their exam performance. They can apply modern methods for completing tasks and solving problems related to project appraisal.
The course, as it is development-based, through the process of evaluating the relevant actions, helps to gain the following general abilities:
Ability to analyze and evaluate development actions (projects, investments, etc.) of key problems with a national or local dimension, taking into account the overall impacts on development.
Ability to search and find the appropriate elements and variables needed to evaluate a project or investment, quantify the overall effects by appropriately quantifying the changes brought about by the implementation and operation of a project or investment in the economy, environment and environmental development, using international and natiomal bibliographic and statistical sources.
Ability to analyze and synthesize data and information collected to draw appropriate conclusions and make relevant decisions on whether or not to implement a project or investment in general.
Ability to approach developmental problems and meet future “challenges” to the development of the local or national economy, by understanding the relevant concepts and benefits coming of a project.
Ability to apply the knowledge gained in the lessons learned in previous semesters and to solve developmental problems through an interdisciplinary approach.
Ability of constructive criticism while attending the course and the work and developing similar scientific arguments to solve or highlight developmental problems.
Ability to develop creative and inductive thinking, through the scientific evaluation of developmental actions, their correlation or connection with the public policy pursued, and the general reflection raised and shaped during the semester in which students participate.
The general abilities that students should have acquired in the course are aimed at developing creative and inductive thinking through the analysis of project and investment evaluation problems. Students acquire skills through the general reflection raised and shaped during the semester in which students participate. Also, through the ability to approach development problems and meet future “challenges” to the development of the local or national economy via understanding the relevant concepts that the homework ensures.
The main course content includes the following sections:
Objectives of projects and investments.
Project or investment definition, definition of project and investment objectives, project life cycle and investment evaluation, socio-economic context.
Analysis of projects and investments in urban and regional planning
Investments and impacts on the urban environment, investments and regional impacts, evaluation of investments at the urban and regional level, analysis of the choice of investment location, Legislation on Spatial Planning and Investment Grants.
Methodologically, Project and Investment Evaluation comprises two phases:
Presentation – analysis of context, methodology and tools
Applying to a specific exercise in which students are required to draw up a comprehensive study of a project or investment against a group of 2 people.
Specified evaluation criteria
Determination of weight
Use of theories and methods
Applying theories and methodologies to problems solving
The evaluation criteria used are linked to the learning outcomes, since the students’ ability to show their knowledge and depth of understanding of the core content of the course is indirectly assessed.
The assessment system and criteria are familiar to the students, and they are considered sufficient to reflect the degree of understanding of the course and in-depth knowledge of its content.
The examination process is assessed indirectly, since students are asked to comment after the exams are over. In addition students can view their writing if they wish and find out what mistakes they have made and to comment on them.
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Scientific journals: Journal of Business Finance & Accounting, The Appraisal Journal, International Journal of Production Economics, Management Accounting, Journal of Business Finance & Accounting, International Journal of Project Management, Impact Assessment and Project Appraisal, Project Appraisal , Construction Management and Economics , Environment and Planning , Journal of Environmental Planning and Management ,Journal of Environmental Policy & Planning ,Journal of Planning Literature , Journal of Regional Science , Topos , Aeichoros