Infrastructure Investment and Finance

The October 29. 2011 issue of The Economist had an interesting academic appointments advertisement that highlights a potential new direction for engineering and construction.  The Barlett School of Construction and Project Management of London is looking for a Chair in Infrastructure Investment and Finance.  The Barlett program looks very traditional - - courses and research in strategic management of construction firms, project management, construction economics, enterprise management, network rail management, etc.  But the design and construction industries are rapidity changing, especially those in the public sector - - and especially those in the developed world.  The reality should be very clear.  One word can define this clearness - - austerity (just remember the synonyms - - severe, strict, harsh, dour, grim, unfriendly, self-denying, etc.).  The age of rapidly crumpling infrastructure in the developed worlds meets the reality of a rapidly aging population and escalating health care costs.  The public sector bank account is or will be drained - - for civilization to march forward, something must fill the void.  That something will be strong demand for infrastructure improvements combined with the global capital markets. 

The future of public infrastructure will have a path that intersects the financial resources of the private sector.  Engineering and engineers in the near future will need to be much more comfortable with the full depth of the the word "austerity" - - combined with a firm understanding of the new realities embedded in infrastructure investment and finance.  After you take construction methods and project management - - global infrastructure investment might be a great elective.