ABSTRACT
This chapter is part of the developing literature on the use of real options in the design and development of major projects. Chapter 9 by Kazakidis and Mayer and Chapter 10
8.1 Concept of Flexibility in Design..................................................................... 76 8.2 Real Options “in” System Design: A Paradigm Change ................................77 8.3 Focus on Improved Design, Not on Price of Option ......................................80 8.4 Identifying Best Opportunities for Flexibility ................................................ 82 8.5 Using Screening Models to Identify Valuable Flexibility ...............................84
