Future-proofing—Valuing Adaptability, Flexibility, Convertibility and Options

David Carmichael is a Professor of Civil Engineering at the School of Civil and Environmental Engineering, Former Head of the Department of Engineering Construction and Management, team leader of the Construction Innovation and Research Initiative (CIRI), and a Member of the Centre for Infrastructure, Engineering and Safety (CIES) at UNSW. He is a Fellow of the Institution of Engineers Australia, Member of the American Society of Civil Engineers, and a trained arbitrator and mediator. Professor Carmichael publishes, teaches, and consults widely in most aspects of project management, construction management, systems engineering, and problem solving. He is the author and editor of twenty-three books and over two hundred papers on structural and construction engineering and construction and project management, and has provided expert reports and expert testimony in cases involving structural failures, construction accidents and safety, and contractual and liability matters. His major consultancy work has included the structural design and analysis of civil and building structures; the planning and programming of engineering projects; the administration and control/replanning of civil engineering projects and contracts; and various construction and building related work.

• Introduction.- A General Formulation.- Adaptable Infrastructure.- Project Delivery.- Convertible Contracts.- Real Options.- Investment.- Financial and Energy Options.- Discussion and Conclusions.