2024/25 Undergraduate Module Catalogue

TRAN2030 Project Appraisal

10 creditsClass Size: 95

Module manager: John Nellthorp
Email: J.Nellthorp@its.leeds.ac.uk

Taught: Semester 2 (Jan to Jun) View Timetable

Year running 2024/25

This module is not approved as a discovery module

Module summary

How do public authorities, and private businesses, approach investment decisions? – for example on infrastructure projects or on energy policy. This module will give you an understanding of – and practical skills in - the methods actually used to inform and support a range of different decisions. Concepts, theory, practical methods and case studies are included, and you will learn and critically discuss project appraisal techniques with academics who are working actively as experts in the field.

Objectives

The overall aims of the module are to provide students with a high quality grounding in project appraisal – as practiced worldwide – and to enable students to form a critical appreciation of what is involved in major public choices and how analysis and evidence can be used to support decision-making.

The objectives are:

1. To understand and be able to discuss the concepts which underlie the appraisal of investment projects, and the relevance of each of the main approaches currently used (namely cost benefit analysis, multi criteria analysis and framework approaches).

2. To learn how the methods of appraisal that are used in the UK and internationally work. This includes the main components of the analysis and the evidence on which they are based. Methods differ between sectors – e.g. transport, energy, and environment – and the module will show these differences through examples and case studies which students will engage with through lectures, hands-on classes and coursework.

3. To become familiar with case studies which demonstrate the use of these appraisal techniques in practice, and to be able to discuss future applications and critically assess the potential for different appraisal methods to support better public decision-making in future.

Learning outcomes
On successful completion of the module students will have demonstrated the following learning outcomes relevant to the subject:

1. An appreciation of public decision-making contexts, and how they relate to private business decision-making – with examples. Students will be able to demonstrate familiarity with case studies across transport, infrastructure and the energy sector (and others).

2. An understanding – both academic and practical – of the main forms of appraisal used to support decision making, including their differences and commonalities, grounded in key sources from the literature which will be covered in lectures.

3. The foundations of cost-benefit analysis, including what is meant by benefits, the basis of value, how benefits and costs are measured, the role of wellbeing, and the assessment of value for money. Concepts and theory will be introduced in lectures, discussed and applied in classes, and assessed through the coursework.

4. The use of multi-criteria and framework approaches will also be understood, including their relationships with cost-benefit analysis in real-world, international applications.

5. Students will develop an understanding of the scientific breakthroughs in this field, including measurement of benefits such as health benefits of active travel, the impacts of air quality and decarbonisation, agglomeration impacts and the body of knowledge on valuing and forecasting travel behaviours.

6. Students will learn how to combine and critically discuss, factors coming from economics, ethics, business and governance.

Skills Learning Outcomes
On successful completion of the module students will have demonstrated the following skills learning outcomes:

1. Academic skills including reading, synthesis and academic writing.

2. Technical skills demonstrateuseof discounted cash flow (DCF) analysis skills.

3. Digital skills: Digital creation, problem-solving and innovation..

4. Work-ready skills include meeting preparation, group working and concise report-writing.

5. Sustainability skills: systems thinking.

6. Enterprise skills: spotting opprtunties; applying creativity and innovation.

Syllabus

Details of the syllabus will be provided on the Minerva organisation (or equivalent) for the module

Teaching methods

Delivery type	Number	Length hours	Student hours
Lecture	11	1.00	11.00
Seminar	3	1.00	3.00
Private study hours			86.00
Total Contact hours			14.00
Total hours (100hr per 10 credits)			100.00

Opportunities for Formative Feedback

Formative feedback is provided through the Classes, in smaller groups, held in the 4th, 6th and 8th week of the module.

These classes cover: initial learning about the measurement of benefits and revenues, using a case study example, including both qualitative and quantative aspects, introducing the use of Excel - students are asked to tackle the questions in advance and help is provided by the tutors and through peer-to-peer learning (Class 1); energy policy applications – mainly consolidating points learned through reading, and discussing the implications for international energy policy and appraisal (Class 2); and a final class designed to help students reach the intended level of learning in benefit estimation, discounting and value for money, including use of Excel, ready for the coursework (Class 3).

Methods of assessment

Coursework

Assessment type	Notes	% of formal assessment
Assignment	Coursework	100.00
Total percentage (Assessment Coursework)		100.00

Normally resits will be assessed by the same methodology as the first attempt, unless otherwise stated

Reading list

The reading list is available from the Library website

Last updated: 13/05/2024

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