Title: Smart City Innovation Project

Objective:

Evaluate the economic viability of implementing an innovative smart city solution in a community. The project will involve cost$-$benefit analysis, life$-$cycle costing, and an assessment of the rate of return.

Scope:

Teams will choose a specific smart city technology $($e$.$g$.,$ smart vehicles, drones, carpooling, etc.$).$

The project area is the city of Dubai which currently relies on smart and sustainable sources.

Deliverables:

$1.$ Project Proposal $[2$ Marks$]$:

Outline the chosen technology, initial estimates of costs and benefits, and a project plan.

$2.$ Technical Analysis$[2$ Marks$]$:

Detailed report on the technology, including efficiency, lifespan, maintenance, and environmental impact.

$3.$ Economic Analysis $[2$ Marks$]$:

$-$ Cost$-$Benefit Analysis over the project's expected life.

$-$ Net Present Value $($NPV$)$ and Internal Rate of Return $($IRR$)$ calculations.

$-$ Break$-$even analysis.

$-$ Sensitivity analysis to assess risks.

$4.$ Financing Plan $[2$ Marks$]$:

Explore options for funding the project, including loans, grants, and incentives.

$5.$ Implementation Timeline $[2$ marks$]$:

Provide a timeline for project rollout, including procurement, installation, and commissioning phases.

$6.$ Sustainability Report $[2$ Marks$]$:

Assess the project's sustainability in terms of social, environmental, and economic factors.

$7.$ Final Presentation $[3$ Marks$]$:

A presentation summarizing the findings and recommendations. $[10$ min$]$

Evaluation Criteria:

$-$ Accuracy of economic calculations.

$-$ Thoroughness of technical and environmental analysis.

$-$ Creativity in problem$-$solving and financing strategies.

$-$ Quality and professionalism of the final report and presentation.

$-$ Ability to work effectively as a team.