The 12th edition of the Milan Summer School on Cost-Benefit Analysis (CBA) of Investment Projects will be held in Milan from 28 September to 2 October 2026.
The course offers an intensive and interactive training experience focused on CBA as a tool supporting public investment decision-making. It enables participants to acquire a solid and applied understanding of CBA across three core dimensions:
The programme combines face-to-face lectures and hands-on workshops. Participants work on real cases and interactive tools to apply newly acquired knowledge. With the guidance of lecturers, they conduct a full-fledged financial and economic analysis, explore sector-specific applications of CBA, and critically revise real-life project appraisals.
The course offers three participation formats:
As outlined in the programme, parallel sessions will be held during the sectoral module to explore the application of CBA in Transport, Energy Efficiency, Environment and Research, Development and Innovation (RDI).
The Summer School is primarily designed for public decision-makers involved in the design, preparation, assessment and implementation of investment projects (managing authorities, intermediate bodies and similar institutions) at different levels of government. It may also benefit researchers and practitioners seeking to acquire up-to-date, internationally recognised CBA techniques and methods.
No prior experience in CBA is required to attend the Summer School. However, a good command of Excel and advanced proficiency in English are essential to fully participate in the practical activities included in all sessions. Participants are required to bring their own laptops with Excel installed.
The number of participants is limited to 50, and places are allocated on a first-come, first-served basis. Registration will be open from 23 February to 23 June 2026. Early-bird fees apply to all registrations completed by 30 April 2026.
Lecturers are academics and practitioners with longstanding experience in designing, implementing, and reviewing CBAs for infrastructure and investment projects. The faculty includes experts who have contributed to the European Commission’s Guide to Cost-Benefit Analysis of Investment Projects and the Economic Appraisal Vademecum 2021-2027.
LOCATION
The Summer School will be held in the centre of Milan, at the NH Milano Touring Hotel, located at Via Iginio Ugo Tarchetti, 2.
The venue is easily accessible by public transport (nearest metro stop: Repubblica) and within walking distance of Milan’s main railway station.
LANGUAGE
All lectures, training materials and practical activities are conducted in English.
MEALS
Lunches and coffee breaks are included in the participation fee and will be served at the Summer School venue. Participants are kindly invited to indicate any dietary requirements (e.g. vegetarian, vegan, gluten-free) in the application form
TRAVEL & ACCOMMODATION
Travel and accommodation costs are not included and are the responsibility of participants.
CSIL will provide recommendations for accommodation near the Summer School venue. Participants may also wish to consult online booking platforms, such as Booking | Airbnb.
Participants are encouraged to book accommodation well in advance, given the central location and the time of year.
For any assistance, please feel free to contact the organising committee.
Early-bird fees are available to all participants who register by 30 April 2026.
The indicated fees are net of VAT (22%). VAT applicability will be assessed on a case-by-case basis during the payment phase. VAT is generally not due if the payer (i.e. the invoice addressee, as specified in the application form) is VAT-exempt (e.g. the European Commission) or holds a valid VAT number (reverse charge applicable).
The fee includes:
Travel and accommodation costs are not included and remain the responsibility of participants. Participants are strongly recommended to book accommodation well in advance.
CONDITIONS FOR DISCOUNTS
Early bird discounts apply to registrations completed by 30 April 2026.
After 30 April 2026, a 10% discount is available to:
Discount conditions are not cumulative. Applicants may select only one discount option in the application form.
PAYMENT
Following online registration, applicants will receive a payment form. Payments may be made by international bank transfer, credit card or PayPal.
Once payment has been received by the CSIL Administrative Department, the organising committee will send an email confirming admission to the Summer School.
CANCELLATION AND REFUND POLICY
Registrations that are not cancelled and no-shows are not refundable. All cancellations must be submitted in writing.
There is no charge for qualified substitute participants.
PRIVACY AND DATA PROTECTION
Data will be stored in accordance with CSIL’s Privacy Policy and and used exclusively for purposes related to the organisation and delivery of the Summer School.
CERTIFICATE OF ATTENDANCE
A certificate of attendance will be issued only to participants who attend all sessions of the selected participation format (Module I, Module II or Full Course).
Partial attendance within a selected format will not be recognised.
PLACES AVAILABLE
The number of participants is limited to 50. Places are allocated on a first-come, first-served basis.
If additional applications are received, acceptance may be at the discretion of the organising committee and aimed at ensuring a balanced and diverse audience, considering criteria such as geographical origin, gender balance, seniority level, professional background and institutional affiliation.
While the Summer School programme is intensive and focused, participants will benefit from Milan’s vibrant cultural and social environment in the late afternoon and evening.
CSIL organises optional social and cultural activities to encourage informal exchange and networking among participants and faculty.
Guided walking tour of Milan to introduce participants to the city’s landmarks, history, and culture. The walking tour will start from the Summer School’s location and include the city centre’s highlights such as La Scala, Duomo, Castello Sforzesco and Brera.
SUGGESTED ACTIVITIES
Enjoy some free time to discover Milan’s highlights. You will find our recommendations in your welcome pack, but if you want to plan ahead, see our top tips below:
CENACOLO VINCIANO (LEONARDO’S LAST SUPPER) | Piazza di Santa Maria delle Grazie, 2 | Link to online tickets
Leonardo Da Vinci’s most famous work, Last Supper or Cenacolo Vinciano, as it is called here, was painted on the wall in tempera between 1495 and 1497. Instead of earlier static representations of Christ’s last meal with his disciples, Da Vinci presents a dramatic depiction of the scene, which was quite novel and marked an important new stage in the development of art. Entrance is limited and restricted to those with advanced timed tickets. Tickets for September will become available and sell out in April/May 2026.
MILAN CATHEDRAL’S TERRACES | Piazza del Duomo | Different tickets available online
Milan’s cathedral houses 3,500 statues, 135 spires and 200 bas-reliefs that can be observed from a unique point of view: it is possible to walk on the terraces of the Duomo and from there enjoy close-up not only the vision of spires, statues and the famous Madonnina d’oro but also a panoramic view of the city: from Piazza del Duomo to the modern skyscrapers of Porta Nuova and Citylife.
GIARDINI MONTANELLI |Via Palestro, 20
The Indro Montanelli gardens are a few steps away from the Milan Summer School location. They are a large city park with an overall area of 160.000 square meters. The park also has several attractions like the Palazzo Dugnani, a remarkable palace from the seventeenth century and the Museo Civico di Storia Naturale di Milano (Natural History Museum), dedicated in part to the mineralogy and zoology, or the highly recommendable Modern Art Gallery. The park is full of trees, fountains and green spaces. The park is one of the favourite spots to have an aperitif and rest during summer.
Please note:
If you want to join, ask for information at the Help Desk or send an email to santoro@csilmilano.com.
SCIENTIFIC COMMITTEE
Prof Massimo Florio (University of Milan/CSIL), Silvia Vignetti (CSIL),
Jessica Catalano (CSIL), Chiara Pancotti (CSIL)
ORGANISING COMMITTEE
Claudia Santoro (CSIL), Jessica Catalano (CSIL).
