MILAN CBA SUMMER SCHOOL

Milan CBA Summer School - XI edition
9-13 September 2024

DESCRIPTION
PROGRAMME
FACULTY
structure 
and approach
fees
REGISTRATION
PRACTICAL INFO
SOCIAL ACTIVITIES
PAST EDITIONS
CONTACTS

The 11th edition of the Milan Summer School on Cost Benefit Analysis (CBA) of Investment Projects will be held in Milan on 9-13 September 2024.

The course offers an intensive and interactive learning experience focused on CBA as a tool supporting the decision-making process of public investments. It allows participants to acquire a solid background in different aspects:

  • Understanding the principles and methods of CBA (how to design and run a financial, economic, sensitivity and risk analysis);
  • Getting an in-depth knowledge of its sectoral application (the typical benefits to consider by sector and the techniques most frequently used to evaluate them);
  • Assessing the completeness and quality of a real-life CBA (practice on real-life cases and critical discussion).

The programme features face-to-face lectures and hands-on workshops. Participants will engage in exercises on real cases and interactive tools to practice newly acquired knowledge. With the support of lecturers, they will conduct a full-fledged financial and economic analysis, delve into the sectoral applications of CBA and critically revise real-life cases.  

The course structure provides participants with the option to select from three different participation formats:

  • The Full Course includes both the general principles of CBA and its sectoral application (Module I + Module II, 9-13 September 2024)
  • Module I - General Principles and Methods of CBA (9-10 September 2024)
  • Module II – Sectoral Application of CBA (11-13 September 2024).

The School is principally designed for public decision-makers involved in the design, preparation, assessment and implementation of investment projects (managing authorities, intermediate bodies, etc.) at different levels of government. It may also benefit researchers and practitioners willing to learn the at-the-edge international CBA techniques and methods.

Lecturers are experts – academics and consultants - with longstanding experience designing, implementing and reviewing CBA of infrastructure projects. Amongst them are experts involved in preparing and reviewing the European Commission’s Guide to Cost-Benefit Analysis of Investment Projects and the Economic Appraisal Vademecum 2021-2027.

DOWNLOAD THE PROGRAMME

9 September

13:30 - 14:00
Arrival and registration
14:00 - 14:15
Welcome and introduction
Prof. M. Florio, CSIL
J. Catalano, CSIL
14:15 - 15:00
Key principles of CBA
Definition, scope and objective, key ingredients
Prof. M. Florio, CSIL
15:00 - 16:00
Feasibility analysis I
Project objectives, needs and context description
S. Vignetti, CSIL
16:00 - 16:15
Coffee Break
16:15 - 17:30
Feasibility analysis II
Project identification, options and demand analysis; investment priorities and applications in selected sectors (Environment, Transport, RDI, Health, Energy efficiency)
S. Vignetti, CSIL
18:00 - 19:30
Milan walking tour

10 September

9:00 - 9:15
Arrival and registration
9:15 - 11:00
Financial analysis
Discounted cash flow method, investment cost, maintenance and residual value, operating costs, tariffs and revenues; project profitability and sustainability
C. Pancotti, CSIL
11:00 -11:15
Coffee Break
11:15 - 12:30
Hands on sessions on financial analysis
C. Pancotti and S. Vignetti, CSIL
12:30 - 13:00
Wrap up and discussion
13:00 - 14:00
Lunch Break
14:00 -15:30
Economic Analysis. Introduction
Corrections from financial analysis to economic analysis; social discount rate, shadow prices, economic performance indicators, introduction to approaches to estimating benefits
C. Pancotti and F. Ardizzon, CSIL
15:30 - 16:00
Hands on sessions on economic analysis
C. Pancotti and F. Ardizzon, CSIL
16:00 - 16:15
Coffee Break
16:15 - 17:30
Thematic Session – HEALTH
Typical economic benefits, evaluation methods and tools
G. Cisco, Unisanté
17:30 - 18:00
Wrap up and discussion
C. Pancotti and F. Ardizzon, CSIL
19:30 - 21:00
Networking cocktail

11 September

9:00 - 9:15
Arrival and registration
9:15 - 11:00
Parallel thematic sessions
TRANSPORT
Typical economic benefits, evaluation methods and tools
E. Bernardis, TPLAN
ENERGY EFFICIENCY
Typical benefits, evaluation methods and tools
D. Sartori, EIB
11:00 - 11:15
Coffee Break
11:15 - 12:30
Parallel thematic hands on
TRANSPORT
E. Bernardis, TPLAN
F. Ardizzon, CSIL
ENERGY EFFICIENCY
D. Sartori, EIB
C. Pancotti, CSIL
12:30 -13:00
Wrap up and discussion
13:00 - 14:00
Lunch Break
15:30 - 16:00
Parallel thematic workshops
TRANSPORT
Presentation of case histories
Critical assessment of project’s key features, costs and benefits, deficiencies and pitfalls of the analysis. Interactive discussion of solutions for how to adjust the project and improve the quality of the CBA.
E. Bernardis, TPLAN
F. Ardizzon, CSIL
ENERGY EFFICIENCY
Presentation of case histories
Critical assessment of project’s key features, costs and benefits, deficiencies and pitfalls of the analysis. Interactive discussion of solutions for how to adjust the project and improve the quality of the CBA.
D. Sartori, EIB
C. Pancotti, CSIL
16:00 - 16:15
Coffee Break
16:15 - 17:00
Parallel thematic workshops continuation
TRANSPORT
E. Bernardis, TPLAN
F. Ardizzon, CSIL
ENERGY EFFICIENCY
D. Sartori, EIB
C. Pancotti, CSIL
17:00 -17:30
Wrap up and discussion
TRANSPORT
E. Bernardis, TPLAN
F. Ardizzon, CSIL
ENERGY EFFICIENCY
D. Sartori, EIB
C. Pancotti, CSIL

12 September

9:00 - 9:15
Arrival and registration
9:15 - 11:00
Parallel thematic sessions
ENVIRONMENT
Typical economic benefits, evaluation methods and tools
M. Pedralli and C. Pancotti, CSIL
RDI
Typical benefits, evaluation methods and tools
Prof. M. Florio and J. Catalano, CSIL
11:00 - 11:15
Coffee Break
11:15 - 12:30
Parallel hands on sessions
ENVIRONMENT
M. Pedralli and C. Pancotti, CSIL 
RDI
J. Catalano and E. Delugas, CSIL 
12:30 -13:00
Wrap up and discussion
ENVIRONMENT
M. Pedralli and C. Pancotti, CSIL 
RDI
J. Catalano and E. Delugas, CSIL 
13:00 - 14:00
Lunch Break
15:30 - 16:00
Parallel thematic workshops
ENVIRONMENT
Presentation of case histories
Critical assessment of project’s key features, costs and benefits, deficiencies and pitfalls of the analysis. Interactive discussion of solutions for how to adjust the project and improve the quality of the CBA.
M. Pedralli and 
C. Pancotti, CSIL 
RDI
Presentation of case histories
Critical assessment of project’s key features, costs and benefits, deficiencies and pitfalls of the analysis. Interactive discussion of solutions for how to adjust the project and improve the quality of the CBA.
E. Delugas and L. Colnot, CSIL
V. Morretta, University of Milan
16:00 - 16:15
Coffee Break
16:15 - 17:00
Parallel thematic workshops continuation
ENVIRONMENT
M. Pedralli and C. Pancotti, CSIL 
RDI
J. Catalano and E. Delugas, CSIL 
17:00 -17:30
Wrap up and discussion
ENVIRONMENT
M. Pedralli and C. Pancotti, CSIL 
RDI
J. Catalano and E. Delugas, CSIL

13 September

9:00 - 9:15
Arrival and registration
9:15-10:30
Uncertainty and risk
Sensitivity analysis, risk analysis; Montecarlo simulation, qualitative risk analysis, risk prevention and mitigation measures
S. Vignetti, CSIL
10:30 - 11:00
CBA and its use in the decision-making process
How to read and use CBA results
Prof. M. Florio, CSIL
11:00 - 11:30
Coffee Break
11:30 - 12:30
Closing session
S. Vignetti and J. Catalano, CSIL
12:30 - 13:00
Certificate delivery and pictures
9:00 - 9:15
Arrival and registration
9:15 - 10:30
Economic Analysis. Thematic Session V
The value of technological transfer: applications to research infrastructures and space
Prof. Massimo Florio, University of Milan
Valentina Morretta, University of Milan
10:30 - 11:15
Economic Analysis. Thematic Session VI
The value of open science
Jessica Catalano, CSIL 
Despoina Sousoni, ELIXIR
11:15 - 11:30
Coffee Break
11:30 - 12:15
Economic Analysis. Thematic Session VII
Contingent evaluation: applications to environment, RDI and culture
Francesco Giffoni, CSIL
12:15 - 13:00
Economic Analysis. Thematic Session VIII
The value of human capital formation
Erica Delugas, CSIL
13:00 - 14:00
Lunch
14:00 - 15:30
Uncertainty and risk
Sensitivity analysis; risk analysis; Montecarlo simulation; qualitative risk analysis; risk prevention and mitigation measures
Silvia Vignetti, CSIL
15:30 - 15:45
Coffee Break
15:45 - 16:30
CBA and its use in the decision-making process
How to read and use CBA results.
Prof. Massimo Florio, University of Milan
16:30 - 17:00
Issue of certificates and pictures

The structure of the course allows participants to choose amongst the following options, depending on their availability and specific interests:

  • The full course [9-13 September 2024] is the best solution for those who want to be acquainted with both a solid background in CBA and applied experience in real-life cases.
  • Module I [9-10 September 2024] allows to acquire basic knowledge of the general principles and methods to conduct financial and economic analyses. Hands-on sessions will focus on developing a full-fledged financial and economic analysis and calculation of performance indicators, starting from basic assumptions and key input data.
  • Module II [11-13 September 2024] targets those who already possess knowledge of the general principles and methods of the CBA and want to practice sectoral and practical applications. Parallel sessions will be held to explore the sectoral applications of CBA in Transport, Energy Efficiency, Environment, and RDI. During the hands-on sessions, participants will deepen their understanding of the sectoral application of CBA by working on real case histories, delve deeper into the analysis results and engage in critical discussions regarding their validity. The last day will delve into uncertainty and risks, conducting sensitivity and risks analysis and implementing prevention and mitigation measures. The discussions will also focus on how to improve the quality of the projects applying for EU funding and how to feed CBA analysis into the decision-making process. 

All participants are recommended to bring their laptops with Excel installed.

RESOURCES

Participants should possess basic economics and/or social sciences knowledge to draw the maximum benefit from the course. Excellent knowledge of English and standard Office tools is required. In particular, good knowledge and command of Excel are essential.

Participants are welcome to bring their personal experiences with practical examples of projects they may have encountered in their professional experience to boost the discussion on challenges faced with applying the methodology across different sectors.

Useful literature on Cost-Benefit Analysis that can be used as self-study material before joining the School:

  1. Guide to Cost-Benefit Analysis of Investment Projects (good introduction to Cost-Benefit Analysis principles and applications across sectors), European Commission, 2014
  2. Economic Appraisal Vademecum 2021-2027, European Commission, 2021
  3. Applied Welfare Economics: Cost-Benefit Analysis of Projects and Policies, Routledge, 2022. 
  4. Estimations of SDR in selected countries, CSIL working paper 01/2022
  5. Analytical framework for ex-post evaluation of transport projects: lessons learnt on retrospective CBA, Regional Science, 2019.

Registration time: 6 March 2024 – 7 July 2024 (extended deadline).

MODULE
DATES
FEE (EUR)
Module I + II
Full course
9-13
September 2024
2,600
Module I
General Principles and Methods of CBA
9-10
September 2024
1,150
Module II
Sectoral Application of CBA
11-13
September 2024
1,800

The indicated fees are net of VAT (22%). The VAT payment will be checked case by case during the payment phase. Generally, VAT is not due if the payer – i.e. the invoice’s addresses - to be specified in the application form - is VAT exempted (e.g. the European Commission) or has a VAT number (reversal charge applicable).

The fee includes attendance to lectures and hands-on workshops, lunches, coffee breaks, one walking tour, one networking cocktail, training materials, certificate of attendance.

Travel and accommodation costs will be at the participant’s expense. Participants are recommended to book their accommodation well in advance.

CONDITIONS FOR DISCOUNT:

A 10% discount is offered to:

  • Participants in previous editions of the School;
  • participants from the same organisation;
  • SBCA, RSA, AESIS and EES members.

Please note that the conditions for discounts are not cumulative. Applicants can select only one condition for a discount on the application form.

PAYMENT

Following their online registrations, applicants will receive a payment form. Payments can be performed by international bank transfer, credit card, or PayPal. Once the CSIL Administrative department receives the payment, the organising committee will send an email confirming the admission to the Summer School.

CANCELLATION AND REFUND POLICY

  • For cancellations of participation until 45 days before the course start date, the total fee paid will be refunded.
  • For cancellations until 20 days before the course start date, 80% of the fee paid will be refunded.
  • For cancellations until the day before the course start date, 20% of the fee will be refunded.
  • Not cancelled reservations and no-shows will not be refunded (no-show bill). All cancellations need to be 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 used for internal purposes only.

PLACES AVAILABLE

The number of participants is limited to 50. Acceptance will be guaranteed on a first-come basis. If we receive further requests, acceptance may be at the discretion of the organising committee and aimed at ensuring a balanced audience (in terms of geographical origin, gender balance, seniority level, professional background, affiliation, etc.).

  • Data processing consent

    In order to comply with GDPR, CSIL needs your specific consent to process your data for participation in the 2024 Milan CBA Summer School. Your data will be collected and further processed for the sole purpose of the Summer School. We communicate with you regarding your registration process and payment, the programme, social activities and emails to share training materials and updates. You authorise CSIL to take group pictures during the sessions.
    Please note: You will not be able to register for the Summer School if you do not give your consent.
  • PERSONAL DATA

  • Date Format: DD slash MM slash YYYY
  • PROFILE

  • Accepted file types: pdf.
  • PREFERENCES

  • On days 3 and 4 (11-12 September 2024), participants will be divided in parallel sessions to explore the sectoral applications of CBA. Please indicate which sectoral session you prefer to attend:
  • LUNCHES AND SOCIAL ACTIVITIES

  • INVOICE DATA

LOCATION

The Summer School will be held in the centre of Milan, at the NH Milano Touring Hotel. The address is Via Iginio Ugo Tarchetti, 2 (nearest metro stop: “Repubblica”)

LANGUAGE

All training materials and lessons are in English.

MEALS

Lunches are included in the fee and will be served at the Summer School location.

CSIL will offer a networking cocktail which will take place on a rooftop in the centre of Milan. Information will be provided to selected applicants in due course. Applicants are kindly invited to indicate any dietary preference (e.g. vegetarian, gluten-free, etc.) while submitting the application form.

TRAVEL & ACCOMMODATION

Travel and accommodation costs are at the participants’ expense.

We will share recommendations for suitable accommodations near the Milan CBA Summer School location. We also suggest searching for apartments/B&B online:

Booking  | Airbnb

Feel free to contact the organisation should you need any help.

Although Milan Summer School’s programme is intensive and focused, participants will benefit from a vibrant cultural environment once the courses finish in the afternoon. We have contacted certified tourist guides to organise cultural visits to allow participants to discover the city of Milan, its history and its culture. Also, the CSIL team looks forward to welcoming the Summer School participants in Milan and networking during social activities.

Monday, 9 September 2024 | 18:00/19:30 - MILAN WALKING TOUR

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.

Tuesday, 10 September 2024 | 19:30/21:00 - NETWORKING COCKTAIL

CSIL is pleased to invite participants to the Summer School’s networking cocktail, an informal opportunity to get to know participants, lecturers and CSIL’s staff. Please, kindly confirm your participation in the application form.

Wednesday, 11 September 2024 and Thursday, 12 September 2024

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 2024.

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:

  • Participation in cultural and social activities is NOT compulsory and entirely optional;
  • Participants can enter as many visits as they are interested in (even just one);
  • The guided walking tour will be in English;
  • Activities suggested for Wednesday and Thursday are not included in the fee.

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).




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