New Methodologies in Valuation:
Mastering the Real Options Approach 
Monday 27th & Tuesday 28th November 2000
London
Monday 27th November 2000

0830	Registration and coffee

0900	Chairman’s introduction and welcome

0915	Real Options as a New Method for Valuation and Investment Appraisal

1000 	Understanding the Practical Uses of Real Options in Your Valuation Process 
	Adrian Buckley
	Professor
	CRANFIELD

1045 	Morning coffee

1100	Breaking Down the Fears and Misconceptions: Discovering How Real Options can Be an Accessible and User Friendly Tool within Your Organisation
Dr Peter Arnold
Director of New Technologies
SMITH & NEPHEW

1145 	Successfully Integrating the Real Options Approach into Your Corporate Decision Making

1230	 	Lunch
	
1345	A Practical Worked Example of Real Options Application

1430 	Cable & Wireless Case Study: Real Options in the Telecommunications Industry
Ian Thomson
Futures Services
CABLE & WIRELESS 

1515 	Afternoon coffee

1530	Case Study #1 Applying Real Options in the Pharmaceutical Industry

1615	Power Plant Valuation Under Environmental Uncertainty – Electricity Case Study 
Benedikt Schuler
Structuring and Risk Management
RWE ENERGY TRADING 

1700 	Chairman’s concluding remarks

1715 	End of day 1

Tuesday 28th November

0830	Registration and coffee

0900	Chairman’s introduction and welcome

0915 	The Institutional Investor’s Perspective on Real Options: Using Real Options as a Mechanism for Linking Strategic Management Propositions to the Financial World
Giovanni Beliossi
Associate
REAL OPTIONS GROUP
Senior Quantitative Analyst, Head of European R&D
FIRST QUADRANT

1000 	Real Options: Could This be the Answer to Successful Valuation of High-Tech and Internet Companies?

1045	Morning coffee

1100	 	Applying Real Options Techniques in the Power and Utilities Sector
Grant Monk
Executive
NM ROTHSCHILD
(to be confirmed)

1145 	Successfully Integrating Real Options into Your Acquisition Strategy 

1230	Lunch

1345	A Practical Demonstration of Real Options Valuation Techniques Which Have Been Used Successfully at Enron
Steven Leppard
Manager, Research
ENRON

1430	Applying a Real Options Approach To A Particular Project and 
Linking This Technique with Existing Project Appraisal Techniques
(working title)
Nick Christofides
Professor of Quantitative Finance
IMPERIAL COLLEGE LONDON

1515	Afternoon coffee

1530	Real Options Valuation in the Property (Leasing) Industry
Brenna O’Roarty
JONES LANG LASALLE

1630	Integrating Real Options with Financial Strategy in Corporate Risk Management

1700	Chairman’s concluding remarks

1715	Conference closes

Alternative Topics

1.	How Real Options Can Prove a Valuable Contribution in Valuing the Role of Managerial Flexibility Under Uncertainty.  

2.	Case Study  Applying Real Options in Mining Project Decisions
	
3.	Using Real Options to Take Advantage of Opportunities with Contracting and Outsourcing