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Engineering Economics - Project
Analysis
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Attention New York Engineers:
This course cannot be taken to fulfill your
continuing education requirements in the state of New York since the course does
not fall under the category of "Areas of Practice" or "Law/Ethics". For
more information, check the
New York State Board Requirements.
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John P. Greaney, P.E.
Overview
The
“dollars and cents” business side of Engineering often doesn’t receive the
emphasis in college that employers would like. While engineers typically work
towards a goal of finding the most efficient solution to a problem, in the
business world, “efficiency” often means the least-cost solution. Engineering
Economics provides the tools for determining the most cost-effective alternative
in an organized fashion. This topic is relevant to any engineer who must
consider cost in his or her decisions.
In
this course the student will apply the fundamentals of Engineering Economics to
analyzing a project. The course assumes the student has a working knowledge of
the topics covered in Engineering
Economics – Fundamentals (i.e., time
value of money, inflation, depreciation, project cash flows, etc.)
After
completing this course, the student should understand how to apply economic
analysis tools like Total Life Cycle Cost, Payback Period, Net Present Value,
Internal Rate of Return, Benefit/Cost Ratio, and Savings to Investment Ratio.
The student must take a multiple-choice quiz consisting of ten questions at the end of
this course to obtain PDH credits.
Specific Knowledge or Skill Attained
This course teaches the following specific knowledge and
skills:
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Total
Life Cycle Cost Analysis
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Payback Period
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Net
Present Value (NPV)
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Internal Rate of Return (IRR)
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Benefit/Cost Ratio (B/C) Analysis
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Savings to Investment Ratio (SIR)
Course
Click on the following PDF attachment and review
the course "Engineering Economics - Project Analysis".
"Engineering
Economics - Project Analysis" (134 KB)
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To obtain PDH credits for this course, you will need to take a quiz for
credit. Click on the link below.
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