ABSTRACT
The near-universal situation in construction and real estate projects is that a substantial expenditure is required now or in the short term, in order to receive benefits some time in the future, maybe far in the future. In the case of Kingston Oil’s Chauncey Club, the project team is considering expending time and money on a refurbishment within the upcoming few months, in order to achieve the longer term benefit of increased rental rates and level of bookings, and hence greater revenue from the property.
