Each student shall produce a paper of about 2000 words (guidance to indicate the level of detail of discussion intended, penalties will NOT be applied for deviations on the length) about one of the topics below. These topics are developed to enable students to demonstrate consideration of a topic relevant to the economic analysis of systems, either because of the specific topic being relevant or the methods of analysis and the need to consider system wide issues being embedded in the formulation of the problem.

1. Consider the scenario of a prospective investor in technical projects as a business venture. How would you develop a project appraisal and project development Statement of Work process which would enable you to confidently 'cover off' all the factors which could impact the economic value of your proposal.

Note, these things include the obvious factors such as the direct costs of doing the work and the expected revenues to be generated, and also hidden things such as discovery of regulations etc with which the work must comply at all levels of regulatory bodies. OR

3. Discuss the differences in the economic analysis of a project being developed under a traditional 'design, build, sell, with future maintenance established under a new agreement' model compared with 'design, build, and deliver service' model. In the latter case the buyer is writing the contract of purchase around the purchase of the effect of the system delivered.

How do the two models compare or contrast in relation to the focus placed on through life cost related issues in the design phase? How do the two models differ in the focus that they place on the problem of the balance of up-front price and through life support liabilities?