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دانلود پاورپوینت Engineering Economic Decisions
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دانلود پاورپوینت Engineering Economic Decisions
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دانلود پاورپوینت Engineering Economic Decisions

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دانلود پاورپوینت Engineering Economic Decisions نوع فایل: power point فرمت فایل: pptx قابل ویرایش تعداد اسلاید : 16 صفحه قسمتی از پاورپوینت : Economic decision making for engineering systems is called engineering economy. This definition may seem restricted to engineering projects and systems o

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  • دانلود پاورپوینت Engineering Economic Decisions

    نوع فایل: power point

    فرمت فایل: pptx

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    تعداد اسلاید : 16 صفحه

    قسمتی از پاورپوینت :
    Economic decision making for engineering systems is called engineering economy. This definition may seem restricted to engineering projects and systems only, engineering economy however is also the study of industrial economics and the economic and financial factors which influence industry.

    Engineers are the people who are familiar with all the technicalities of machinery and production therefore they are the best judges of the useful lives of an asset and they also have the technical knowledge to calculate the number of units a proposed plant would produce when operational.

    In today’s competitive world of business it has become essential that engineers should practice financial project analysis for engineering projects and make rational decisions.

    Engineering economy also includes the study of accounting practices for manufacturing concerns. Unique features of accounting for manufacturing concerns are process costing, batch costing, cost allocation.

    Engineering economy deals with justification and selection of projects. Many engineers work on projects which address a specified activity or a problem. Any decision regarding the project must be justified.

    In business environments, many if not all, decisions are justified using monetary criteria such as “profit”. Such decisions are made at the managerial level and many engineers become managers in manufacturing environment.

    Therefore, all engineers, regardless of their employment, should know methods and tools used in evaluation of projects.

    The purpose of engineering economy is to expose all engineering students to the methods which are widely used for evaluation of projects.

    Even though, engineering economy deals mostly with selection of projects in business environment, the tools and methods can be and are used by individuals and non-profit organizations such as government, hospitals, and charitable entities, etc.



    Let us present few examples in different environments where engineering economy can facilitate the decision making process.

    Business Environment: A small manufacturing company needs to buy a forklift truck for material handling. Two different brands, say A and B, are being considered. Which truck should be bought? The decision will probably be based on minimization of cost.

    Non-profit Organizations: A project for widening a two lane highway to four lanes is being considered by the county board. A four lane highway may reduce the traffic accident rate but is expected to lower property values in the immediate neighborhood of the highway. Should the proposed highway be built? The county board must weigh the relative benefit of lower accident rates against the possible loss in value of homes as well as the construction cost.

    Individuals: A new college graduate needs a new car. Should this new car be bought or leased? Methods from engineering economy can be used for determining the best choice.
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