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WHAT ARE SOME OF THE SPECIFIC TECHNOLOGIES THAT CAPSTONE WILL BE TESTING DURING ITS MISSION

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The Capstone mission is designed to test and validate new navigation technologies and a prototype spacecraft will be the first to fly Google’s experimental “cubesat sized” spacecraft design to the Moon. Testing smallsat technologies at the Moon is an important step for establishing a sustainable lunar presence.

One of the key technologies being tested is called Cislunar Autonomous Positioning System or CAPS. CAPS uses radio occultation techniques and advanced autonomous navigation to determine spacecraf location without relying on GPS or networks of tracking stations. Radio occultation works by measuring the change in frequency of radio signals from satellites as they pass behind the moon and enter the moon’s shadow. This will enable precise navigation near and on the far side of the moon without line of sight to Earth. Precise navigation data is crucial for future missions involving constellations of satellites in cislunar space and landings on the lunar surface.

Another important innovation is that Capstone will be the first spacecraft to demonstrate a halo-like orbit around the moon called a Near Rectilinear Halo Orbit or NRHO. This elliptical orbit has the potential to keep a spacecraft in the vicinity of the moon’s far side continuously with just slight orbital adjustments required due to perturbation forces. Maintaining continuous line of sight to both Earth and the entire lunar far side is a major enabler for future science activities and a sustainable human presence. Capstone will thoroughly characterize orbit stability, dynamics and radio-frequency environment to validate NRHO as a destination for Gateway and other long-term presence architectures.

The smallsat form factor and structure is a new technology area that Capstone aims to prove. At just under 25 kilograms, Capstone utilizes a 6U cubesat chassis that folds open like origami to deploy its solar panels. This incredibly small and lightweight design enables the rapid fabrication, assembly and low-cost launch afforded by the small launcher market. Testing this design for long-term operation at the moon will validate it can adequately withstand the harsh space environment and demonstrate smallsats are a viable platform for deeper space exploration.

To communicate with Earth, Capstone employs an innovative software-defined radio and multiple high gain antennas in a configuration optimized for cislunar communications. Lunar missions often rely on deep space networks with large parabolic antenna that aren’t always available for small spacecraft. Capstone aims to demonstrate robust communications is achievable using smallsat radars and aggressive coding & networking techniques over the hundreds of thousands of miles between Earth and moon.

Solar electric propulsion (SEP) is a key technology that enables the Capstone spacecraft tour of cislunar space. By employing electric ion engines powered by body-mounted solar panels, Capstone can achieve significant delta-V capability within the constraints of a small satellite form factor. Testing SEP performance and lifetime during long-duration operation to the moon provides crucial data to prove out SEP as a transfer mechanism and orbital maneuvering tool for future exploration. Characteristics like ion thruster plume interactions, propellant consumption rates and spacecraft power generation will be carefully evaluated.

Once at the moon, Capstone also aims to test new lunar landed technologies. A small tracking unit will be placed on the lunar surface by the spacecraft’s impact to gather precision navigational data during the NRHO demonstration. This “suitcase-sized” lander will evaluate communications and tracking performance from the moon’s surface to help validate technologies needed by future science landers and outposts. In addition, Capstone will characterize the new orbit’s thermal, dust, plasma and radiation environment to provide assessment of impacts on smallsat technologies.

The Capstone mission provides a critical opportunity to test and prove many innovations needed for a sustainable return to the moon through advanced navigation, communications, small spacecraft development, electric propulsion and lunar surface operations – all while demonstrating a breakthrough cislunar orbit. The flight validation of these technologies in the challenging cislunar environment is fundamentally enabling for the Artemis program’s vision of long-term exploration and commercial activities at the moon through utilization of smaller, more affordable spacecraft. The mission aims to reduce risks for future deep space smallsats and help accelerate development of powerful new capabilities to explore space.

The Capstone mission presents a unique opportunity for NASA to test many new technologies simultaneously at the moon in a pathfinding small satellite. Successful completion would significantly de-risk future exploration goals while also helping to drive adoption of advanced smallsat approaches into the mainstream of deep space operations. Together, these technology demonstrations have the potential to substantially support NASA and commercial objectives for establishing a long term infrastructure in cislunar space to enable sustained robotic and crewed human exploration to the lunar surface and beyond.

WHAT ARE SOME EXAMPLES OF SUCCESSFUL PUBLIC PRIVATE PARTNERSHIPS IN DEVELOPING COUNTRIES

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One of the largest and most prominent examples of a successful PPP is the expansion and modernization of the Panama Canal. In 1997, the government of Panama signed a concession agreement with the Panama Canal Authority (APC) to greatly expand the capacity of the Canal in a partnership that would last for many decades. A consortium called Grupo Unidos por el Canal (GUPC) was awarded the contract and investing over $5 billion to widen the Canal and add a new set of locks. This allowed the Canal to handle much larger post-Panamax ships. The expanded Canal was completed ahead of schedule and under budget in 2016. It has been credited with significantly boosting Panama’s economy and prospects for growth.

In India, public-private partnerships have played a major role in expanding infrastructure, improving services, and promoting development. For example, in the power sector, the state-owned Power Grid Corporation of India set up a joint venture called Power Link Transmission Company to improve the transmission network. Private investors put in the majority of funding which allowed for major projects to be completed on time and at lower cost than if done publicly. Reliable electricity access across India has increased substantially due to such partnerships.

In the transportation sphere, some standout PPPs include building or upgrading major highways and ports. The Golden Quadrilateral highway project connected the four major cities across India through over 5,000 kilometers of modern highways constructed by 2005. Private consortiums were responsible for the design-build-finance-operate-transfer model which sped up delivery significantly. India also has some of the busiest container ports globally now thanks to partnership redevelopments like the project in Nhava Sheva which boosted annual capacity from 700,000 to over 3.2 million TEUs.

Another area where PPPs thrived is urban development and housing. For example, in Surat, Gujarat, a Public-Private-Community Partnership redeveloped congested informal settlements into well-planned neighborhoods with widespread community support. Private developers worked with municipal agencies and local participation to provide new housing, public facilities, and livelihood opportunities in a major slum upgrading project. The innovative model delivered social and economic benefits for low-income residents and set a precedent for inclusive urban regeneration programs nationwide.

In Indonesia, private sector investment has also been effectively mobilized through partnerships to expand infrastructure. One pioneering instance is the Jakarta Inner Toll Roads project constructing over 50 kilometers of tolled urban expressways. A BOT (build-operate-transfer) agreement with a government-owned corporation and private consortium saw the routes completed in 2005 for around $650 million in investment. It relieved chronic traffic congestion in the capital and its success led to numerous other similar highway PPPs across the archipelago.

Another notable case is Patimban Port in Subang, West Java. As Indonesia’s economy and imports/exports grew rapidly, existing seaport capacities struggled to keep up with demand. Under a 35-year concession from 2014, a private operator has invested $3 billion in building new container and general cargo terminals at Patimban, along with connecting roads and railways. When fully operational by 2024, it will triple Indonesia’s total container handling capacity and attract more industrial zones and economic activity to the region, representing exactly the kind of transformative infrastructure PPP envisioned to support development goals.

Moving to the health sector, Kenya has seen its healthcare system expanded and access to services rise substantially through public-private cooperation. Kenyatta National Hospital, Africa’s largest referral medical center, underwent an ambitious PPP renovation and expansion project. Concesses designed, built, and now operate modern patient accommodation towers, parking facilities, a waste management plant and more through a 25-year agreement. The government retained ownership and strategic control while over $200 million in private funding modernized Nairobi’s flagship hospital.

Innovation hubs and science parks have also benefited various nations. The University of Nairobi Science and Technology Park was established through collaborations between the government, local researchers, international organizations and the private Arm Holdings which provided an endowment. It now hosts over 90 companies and research groups commercializing technologies, creating knowledge-based jobs and transferring ideas to industry partners. Examples like these demonstrate how engaging public and private stakeholders can successfully drive technology development and foster economic diversification in developing economies.

Across various sectors like infrastructure, healthcare, industrialization and more, well-structured public-private partnerships have significantly aided progress in developing nations by mobilizing private expertise, management abilities and financing towards shared development goals that benefit citizens and businesses alike when each sector plays to its strengths through collaboration rather than competition or conflict. PPPs present a major opportunity going forward for closing infrastructure gaps, boosting productivity and facilitating continued progress on sustainable development in the Global South.

WHAT ARE SOME POTENTIAL DELIVERABLES FOR A FINANCE AND ACCOUNTING CAPSTONE PROJECT

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The capstone project is intended to be the culminating academic experience for undergraduate finance and accounting students. It allows students to conduct an independent research project that demonstrates their skills in applying what they have learned throughout their coursework. Some key deliverables a capstone project in this field may include:

A comprehensive financial statement analysis and audit of a public company. This would involve obtaining the company’s financial statements (balance sheet, income statement, cash flow statement) for the past 3-5 years from sources like EDGAR. Students would perform both a horizontal and vertical analysis to examine trends over time and identify key ratios. They would audit the statements for any issues, do comparative company and industry analysis, and make recommendations. This could be around 5,000-7,000 words.

A detailed financial forecasting and budgeting model for a private company. Students would need to gather internal financial and operations data from the company. They would then build out comprehensive income statements, balance sheets, and cash flow statements projected for the next 3-5 years on a quarterly basis. Assumptions would be documented for all revenue and expense line items. Forecasting techniques like trend analysis and regression could be utilized. Accompanying narratives would explain forecasting methodology and key assumptions. The model itself and a 7,000-10,000 word written report would be delivered.

A full leveraged buyout analysis and presentation for a potential acquisition target company. This would require collecting public and potentially some private company data. Students would value the company using multiple approaches like discounted cash flow analysis and comparable company/transaction multiples. A pro forma model would show the financial effects of the acquisition including projected income statements, balance sheets, cash flows, and debt schedules for the combined entity for 5 years. An PowerPoint presentation estimating 15-20 slides would visually summarize the analysis and recommendations.

A comparative case study analysis of two or three public companies in the same industry examining strategic issues. Students would comprehensively research the companies’ operations, strategies, competitive positions, financial performance, and valuation. A thorough written case study paper of 10,000-15,000 words would compare and contrast the companies, perform ratio analysis, and draw conclusions about which company is better positioned strategically and financially. Relevant exhibits would accompany the written case study.

An original equity research report on a publicly traded company recommending a “buy,” “sell,” or “hold.” Students would conduct due diligence research compiling all publicly available information on the company like SEC filings, earnings calls, industry reports, Wall Street analyst reports, and company websites. The report of 7,000-10,000 words would provide an objective picture of the company’s business, recent performance, outlook, valuation, and risks. A financial model would project 3-5 years of income statements, balance sheets, cash flows. Extensive exhibits would accompany the report which would include charts, graphs and financial statement tables to support the investment thesis.

An in-depth corporate financial planning project for a private or public company. Student would work with a company to identify strategic growth/investment opportunities requiring capital. They would developed detailed operating and capital budgets and long-term financial plans for 5-10 years including projected years income statements, balance sheets, cash flows and financial rations under various scenarios. Accompanying this model would be a written 7,000-15,000 word financial feasibility analysis examining the viability, risks and returns of the proposed strategic initiatives with alternatives considered. The final deliverable would provide the capital structure and sources of funds recommended.

The above represent some large, comprehensive deliverables that could really showcase synthesis and application of finance and accounting skills learned in a capstone experience. While the scope and specifics could vary depending on a student’s interest area and company/data availability, these provide substantive, real-world-like projects requiring in-depth independent research, analysis, modeling, and written communication to demonstrate mastery of the subject matter. The deliverables would give evidence of a student’s readiness to transition into a career in finance, accounting, consulting, or other business fields upon graduation.

WHAT ARE SOME OF THE ENVIRONMENTAL IMPACTS OF BUILDING ARTIFICIAL ISLANDS

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Building artificial islands can have significant impacts on the environment. One of the largest impacts is on coral reef and marine ecosystems. To construct these man-made islands, vast areas of the seabed need to be dredged and landfilled, which destroys sensitive coral reef and seabed habitats. Coral reefs are incredibly biodiverse ecosystems that are home to thousands of marine species. They also act as nurseries for many commercially and ecologically important fish. Destruction of reef systems displaces and kills coral polyps and reef fish. It releases sediments into the water column which can smother corals over large areas. The dredging activities also generate underwater noise that disturbs and disorientates marine life like whales, dolphins, and sea turtles. Reef systems often take decades or even centuries to recover from such damage.

The landfilling required for artificial islands uses enormous quantities of natural resources. Dredging extracts seabed sediments and rock, which is then deposited to expand existing land or build new islands. This process requires billions of cubic meters of materials. The extraction damages benthic habitats and increases turbidity in surrounding waters. It also releases nutrients, pollutants, and residues that were buried in these sediments. The new artificially placed substrates are often not suitable for colonization by corals or other marine organisms for long periods, affecting the reestablishment of natural communities.

Coastal and marine wildlife is at risk during island construction. Species like seabirds, turtles and marine mammals can become entangled in construction equipment or vessels. Noise and movement from dredging, landfilling and construction disturbs breeding and foraging behaviors of coastal dependent species. It also increases risks of vessel strikes. Migratory pathways may be blocked by new land formations altering how marine species access important habitats. Islands may also fragment seagrass beds and mangrove forests disrupting ecosystems. Light pollution from construction at night disorients sea turtles and hatchlings. Once operational, islands also introduce invasive species, debris, chemical and oil spills that degrade the environment.

Artificial islands impact water circulation and quality in surrounding areas. Land reclamation and dredging alters coastal hydrodynamics changing currents, waves and sediment flows. It reduces water depths that are vital for fish feeding and breeding. Deeper channels are required for ship traffic that increases erosion. The mixing of landfilled sediments releases nutrients, pollutants and other contaminants into the water column harming water quality. This can lead to algal blooms, dead zones, coral bleachings and disease outbreaks affecting ecosystems. Sand mining to obtain landfill materials erodes nearby beaches and coastlines increasing flooding and erosion risks.

The size of some mega islands is a major concern for climate change. Constructing structures on such a massive scale requires vast quantities of cement, steel and other materials which have significant embedded carbon emissions during manufacturing. Operational activities like transport, construction work, energy use and waste generation also contribute carbon emissions over the island’s lifetime. Coastal artificial islands may also interfere with ocean currents and affect regional weather patterns. If not properly designed, they can exacerbate the impacts of climate change like rising sea levels, stronger storms surges and more frequent extreme weather events on low-lying atoll nations.

Post construction, islands continue impacting the environment. Invasive species established on the new substrates spread rapidly with no natural controls. Toxic chemicals, plastics, sewage and trash pollute surrounding waters if not properly managed. Standing structures attract undesirable activities like overfishing. Islands may fragment ecologically important areas preventing wildlife movements. Lighting associated with development disrupts natural light cycles of turtles and seabirds. Building artificial islands is an immense anthropogenic intervention with multi-decadal environmental impacts that are often irreversible without active restoration efforts. Proper environmental planning, mitigation of impacts, and compensatory conservation are needed to offset their ecological footprint.

Artificially constructing islands causes substantive destruction to marine ecosystems through habitat removal and alterations, introduces invasive species, changes coastal processes, and increases pollution. It contributes carbon emissions on a massive scale. Some of these impacts like coral reef damage may persist for centuries. To minimize environmental harm, construction should avoid sensitive sites, adopt best practices, implement impact assessments, and include long-term monitoring and adaption. Offsets that protect natural marine habitats equivalent to those destroyed may also help mitigate long-term effects of island reclamations. Given the immense and potentially irreversible environmental costs involved, artificially building islands should only be an option of last resort after all alternatives are considered.