Engineering Economy And Managment

  1. What does it mean engineering economy?
  2. Performing engineering economy study
  3. interest rate and ROR,MARR
  4. Equivalence
  5. Simple and Compound interest
  6. Terminology and Symbols
  7. Cash Flow
  1. Understand the Problem
  2. Collect all relevant data/information
  3. Define the feasible alternatives
  4. Evaluate each alternative(Where the major tools of engineering economy are applied)
  5. Select the “best” alternative
  6. Implement and monitor(Major Role of Engineering Economy)
  1. 3 Section Performing a study:• To have a problem, one must have alternatives (two or more ways to solve a problem)
  2. Alternative ways to solve a problem must first be identified
  3. Estimate the cash flows for the alternatives
  4. Analyze the cash flows for each alternative
  5. 4 Section Alternatives:To analyze, one must have:Concept of the time value of $$, an Interest Rate,some measure of economic worth,evaluate and weigh,factor in noneconomic parameters,select, implement, and monitor.




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