Patrick C. Flower, Ph.D.
Principal for Optimum Concept Consulting, LLC
- S. Degree in Civil Engineering; May, 1971; Tulane University, New Orleans, LA
- MBA; May, 1987; University of New Orleans, New Orleans, LA
- A. in Economics; May, 1991; University of New Orleans
- D. – Financial Economics; August, 1993; University of New Orleans, Department
of Finance & Economics
Highest GPA (4.0), U.N.O. 1987 MBA Program
Fellowship, Finance & Economics, 1989-92, U.N.O.
Toussaint Hocevar Award, Outstanding Ph.D. Candidate 1993 (4.0 GPA)
Professional Engineer in Civil Engineering, State of Louisiana (P.E. # 15322)
Construction Executive 1971 – 1983
Consultant: 1983 – Present
Engineering 1983 – Present
Construction Management 1983 – Present
Management Consultant 1987 – Present
Economist/Financial Analysis 1991 – Present
Assistant Professor of Finance – University of New Orleans, Fall 1996 and Fall 1997
- Feasibility Studies – logistics, conceptual design, schedule, economic analysis
- Conceptual Design and Construction Management
- Opinions of Probable Cost
- Opinions on Value – replace cost of fixed assets less physical & external depreciation
- Economic/Financial Feasibility Analysis of Capital Projects
- Business Plans
- Useful Life Studies
- Site selection Studies
- Simulation Studies
- Hedonic Analysis of Real Estate Property Values / Impacts of Externalities
Construction Executive: 1971 – 1983
Twelve years experience in the construction industry. From 1975 to 1983, served as vice president of LeGardeur International, Inc. in charge of estimating and project management. This design/construction firm completed about $12,000,000 per year in work, specializing in industrial and marine construction, with an emphasis on the large bulk transfer facilities typical of the grain and coal industries on the lower Mississippi River. During this period, experience included engineering design, estimating, scheduling, and construction supervision of many different projects involving foundations, marine structures, industrial structures, and bulk material mechanical systems. Management responsibilities included the engineering, estimating, and project management functions, and serving as a member of the Board of Directors for the corporation.
Consultant: 1983 – Present
- Patrick Flower & Associates: 1983-1987
- River Consulting, Inc.: January, 1987 – February, 2007
Executive Vice President
- Optimum Concept Consulting, L.L.C.: February, 2007 – Present
Engineering & Construction Management: 1983 – Present
Conceptual and detail design, capital budgets, and construction management services have been provided for many large and small industrial projects. Projects have included port infrastructure; loading and unloading systems for ships, barges, trains, and trucks; railroad track systems; bulk material and break-bulk storage facilities; conveying, weighing, blending, sampling, crushing, and cleaning systems for material handled and processing through the facilities. Construction management services have included opinions on probable cost, scheduling, procurement, performance specifications and bid documents, contract bidding, and site management.
Professional Opinions on Value, Condition, and Useful Life: 1983 – Present
Numerous reports have been provided to MAI appraisers, attorneys, and other professionals regarding replacement cost adjusted for physical and external depreciation. Other services have included opinions on asset condition, useful life, and bond eligibility.
Management Consulting: 1987 – Present
Business plans that address logistical analysis; project concepts; proforma projections for production, revenue, and operation expenses; opinions on capital and operating costs; plan for project execution; and financial analysis.
Simulation studies for intermodal terminals and transportation systems using computer software to model the operation of the systems. The software introduces the uncertainty of random events, and the model can track the impact on relevant costs. These studies are effective tools for establishing design criteria and verifying production levels for development alternatives.
Site selection studies for commercial/industrial projects that consider factors relevant to transportation, capital, and operation costs, as well as the design requirements need to achieve target production levels and issues that impact schedule.
Economist/Financial Analyst: 1993 – Present
Economic/financial feasibility studies of capital projects that incorporate logistics, conceptual design, cost projections, project execution plan, financial analysis, and non-monetary economic factors. These studies would typically include scenario analysis to consider various alternatives and provide a basis for identifying the optimum concept.
Hedonic econometric studies of real estate property values and the effects of externalities
The Central American Common Market: An Analysis of Welfare Effects from 1970 to 1984 by Patrick C. Flower and Walton T. Wilford, Ph.D., published in Trade, Industrialization, and Integration in Twentieth-Century Central America, Edited by Irma T. de Alonso, Praeger Publishing, Westport, CT, (1994) 183-205.
The Effects of Refineries on Proximate Housing – A Hedonic Study, 1979-1991, St. Bernard Parish, Louisiana, Ph.D. Dissertation by Patrick C. Flower, University of New Orleans, (August, 1993).
Refineries and Neighborhood Property Values by Patrick C. Flower, Ph.D. and Wade R. Ragas, Ph.D., Texas A & M University Technical Report No. 1018, April, 1994.
The Effects of Refineries on Neighborhood Property Values by Patrick C. Flower, Ph.D. and Wade R. Ragas, Ph.D., Journal of Real Estate Research, Vol. 9, No. 3, (Summer, 1994), 319-338.
Petroleum Refineries – Can Larger Site Buffers Limit Adjacent Property Value Impacts? by Wade R. Ragas and Patrick C, Flower, Professional Report – Society of Industrial and Office Realtors, Volume 53, No. 4, (October, 1994) 16-18.
Dual-use Coke and Sulphur Terminal Developed In Venezuela by Patrick C. Flower, Ph.D., Executive Vice President of River Consulting Inc, LA, USA, Port Technology International, Eighteenth Edition, (Spring, 2003) 115-121.
PROFESSIONAL AND ACADEMIC ORGANIZATIONS
American Consulting Engineers Council
American Society of Civil Engineers
Louisiana Engineering Society
Regional Science Association
Phi Kappa Phi Honor Society
Chevron, U.S.A. vs. numerous parties, Plaquemines Parish. (1994) Counsel: Mr. Mack Barham (Barham & Arceneaux, New Orleans, Louisiana) – valuations and technical opinions regarding a marine oil terminal.
Leo Cheramie vs. Equitable Petroleum Corp., et al, New Orleans Federal District Court (1988). Counsel: Mr. Richard A. Weigand (Weigand, Weigand & Meyer); New Orleans, Louisiana) – opinion on structural design.
St. Bernard Port vs. Violet Dock Port; District Court – St. Bernard Parish, LA; Opinions on Replacement Cost Valuation of Violet Dock Port; reports, depositions, and testimony in 2013.
Utilizing the experience gained as both a construction executive and an engineering consultant, plus the analytical skills acquired in graduate studies in business and economics, Dr. Flower has led the design and analytical efforts and authored the reports for numerous studies involving the technical and/or economic feasibility of major capital projects. A list of major studies completed by Dr. Flower while at both River Consulting and Optimum Concept Consulting, which indicates the diversity of this work, is available as an attachment. In addition to these studies, he has also completed over forty reports providing opinions of value based on replacement cost adjusted for physical and external depreciation.