This book directs the engineering manager or the undergraduate student preparing to become an engineering manager, who is or will become actively engaged in the management of economic-risk trade-off decisions for engineering investments within an organizational system. In today's global economy, this may mean managing the economic risks of engineering investments across national boundaries in international organizations, government, or service organizations. As such, this is an applied book. The book's goal is to provide an easy to understand, up to date, and coherent treatment of the management of the economic-risk trade-offs of engineering investments. This book accomplishes this goal by cumulatively sequencing knowledge content from foundational economic and accounting concepts to cost estimating to the traditional engineering economics knowledge culminating in fundamental engineering managerial economic decision-making incorporating risk into engineering management economic decisions.

Autorentext

T. Steven Cotter (B.S., MBA, M.S., Ph.D.) is Senior Lecturer with the Engineering Management and Systems Engineering department at Old Dominion University. He is Certified Quality Engineer and Certified Reliability Engineer with the American Society for Quality. He has 40+ years' experience in various engineering and management positions in industry and five years' experience as Adjunct Professor before joining ODU as full-time faculty in 2013. His research specializations include engineering design analytics, AI-human knowledge engineering, AI-human quality and reliability systems, and computational systems statistical engineering.

Inhalt

Part 1 Economic Context of Engineering Management Decisions1 Managerial Economics of Engineering Organizations2 General Accounting Fundamentals3 Cost Accounting Fundamentals4 Engineering Cost Concepts and Cost EstimatingPart 2 Economic Analysis of Engineering Activities and Projects5 Interest Equivalence6 Measures of Investment Worth7 Depreciation Effects on Engineering Investments8 Tax Effects on Engineering Investments9 Inflation Effects on Engineering Investments10 Incremental Analysis11 Replacement AnalysisPart 3 Managing Engineering Investments12 Setting MARR13 Capital Budgeting Engineering Investments14 Benefit-Cost Ratio Analysis15 Introduction to Management Economic Decision Theory and Risk AnalysisAppendix A: Use of the Microsoft® Excel® Compound Interest Calculator Spreadsheet Appendix B: Chapter Homework ProblemsAppendix C: Fundamentals of Engineering (FE) Exam Example QuestionsBibliographyIndex