Literature Critique Date Due: Month Day, YearBy: First Name M.I. Last Name (suffix if applicable)Eschenbach, T. G., Lewis, N. A., & Hartman, J. C. (2009). Technical Note: Waiting Cost Models for Real Options. The Engineering Economist: A Journal Devoted to the Problems of Capital Investment , 54 (1), 1-21.This article discusses the waiting cost models associated with the real options. In Engineering, a project can be delayed because of many factors such poor preparations or technical problems. Real options are used to measure the value of delaying such engineering projects. When a project is delayed, the benefits associated with such a project are lost. These include cash flows and market share among others. Economically, the loss of benefits associated with a project is referred to as the opportunity cost. The waiting costs of implementing a project therefore constitute the opportunity cost. Thus, the article mainly focuses on the waiting cost models that can be used to measure the opportunity cost associated with a delaye.