Six Ways to Perform Economic Evaluation of Projects

Course Number: BS-3011
Credit: 3 PDH
Subject Matter Expert: A. Bhatia, Mechanical Engineer
Price: $89.85 Purchase using Reward Tokens. Details
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Overview

In Six Ways to Perform Economic Evaluation of Projects, you'll learn ...

  • Understand the 6 fundamental methods of cost analysis
  • Payback Method
  • Return on Investment (ROI)
  • Total life cycle cost (present value method)

Overview

PDHengineer Course Preview

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Credit: 3 PDH

Length: 26 pages

This course addresses cost analysis related to planning and executing projects. While engineers find it necessary to learn the basic accounting and business principles to communicate with accountants, few accountants are willing to learn the engineering details. The basic cost evaluation techniques presented in the course will help engineers to “think like MBAs and act like engineers”.

Installed costs and capital offsets are important economic parameters for evaluation of a proposed investment. The concept of money having a time value is fundamental to understanding any economic or financial analysis. This 3 -hour course provides basic fundamentals of cost evaluation that can be applied to new, retrofit, expansion and modification projects.

The course is intended primarily for managers, engineers, architects, scientists, auditors, campaigners, academics, equipment manufacturers and designers.

Specific Knowledge or Skill Obtained

This course teaches the following specific knowledge and skills:

  • Understand the 6 fundamental methods of cost analysis
  • Payback Method
  • Return on Investment (ROI)
  • Total life cycle cost (present value method)
  • Savings/investment ratio (benefit/cost ration method)
  • Net present Value (NPV)
  • Internal rate of return (IRR)
  • Be aware of commonly-used financial terminology and concepts
  • Be able to judge and select the right project alternative

Certificate of Completion

You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 15 questions. PDH credits are not awarded until the course is completed and quiz is passed.

Board Acceptance
This course is applicable to professional engineers in:
Alabama (P.E.) Alaska (P.E.) Arkansas (P.E.)
Delaware (P.E.) Florida (P.E. Other Topics) Georgia (P.E.)
Idaho (P.E.) Illinois (P.E.) Illinois (S.E.)
Iowa (P.E.) Kansas (P.E.) Kentucky (P.E.)
Louisiana (P.E.) Maine (P.E.) Michigan (P.E.)
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New Mexico (P.E.) North Carolina (P.E.) North Dakota (P.E.)
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PDHengineer Course Preview

Preview a portion of this course before purchasing it.

Credit: 3 PDH

Length: 26 pages

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