Financial Engineeringby David B. Ashley, Univ of Texas at Austin, Construction Engineering & Project Management Program, Austin, TX, USA,
Abstract: Most firms perform design and engineering to economic criteria, as a portion of normal activities. This paper attempts to encourage further use of financial engineering by describing its two essential features: 1) project evaluation and 2) project financing. Preceding these descriptions is background discussion on changing project environments and engineers' training in finance. As a whole this paper presents a view of a new, evolving discipline that may soon become an indispensable component of major civil engineer projects.
Subject Headings: Economic factors | Project management | Financing | Feasibility studies | Risk management | Training
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