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Account Options Anmelden. Meine Mediathek Hilfe Erweiterte Buchsuche. Principles of Engineering Economic Analysis. John A. White , Kenneth E. Case , David B. Pratt , Marvin H. This unified examination of economic analysis principles from a cash flow viewpoint, provides a systematic, 7-step approach for performing a comparison of investment alternatives. It offers comprehensive coverage of cost concepts, inflation, ACRS and modern methods of depreciation, income taxes, economic analysis.
It features more current economy examples, a new chapter on reality issues, and new material on non-manufacturing examples. Im Buch. Inhalt Introduction. Time Value of Money Operations. Reality Issues and Practical Applications Bibliografische Informationen. Agee Wiley ,
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It is important to understand the basics of engineering economics because no matter how sound a project, capital purchase or investment may seem, it will fail if it is not economically feasible. Engineering economics principles focus on the process used to make an economics-based decision, not on the decision itself.
Engineering economics plays an important role for business owners because it helps identify the steps required to make well-thought out decisions such as whether to lease or purchase office space, invest in new computers or update existing ones, or provide customer service in-house or outsource the customer service department.
Each of the seven principles of engineering economics moves you a step closer toward making an economics-related decision. The first two principles -- making a list of alternatives and identifying the differences between each alternative -- set up the thought process.
The next three principles focus on evaluation criteria. These include establishing consistent evaluation criteria, developing common performance measurements and considering all relevant monetary and non-monetary criteria. The final two principles focus on analysis. These include weighing risks against potential rewards and performance monitoring.
Evaluation criteria establish measures of economic worth that make it possible to decide between two possible cost or investment alternatives. The alternative that provides the greatest return for the least cost or investment is usually the best solution.
Common measures of worth include calculations based on the time value of money, a concept that uses time, interest rates and the investment amount to determine which alternative is the wisest decision.
These calculations might include the rate of return, cost-benefit ratio, cost capitalization and present, future and annual worth. Their value lies in forcing you to consider long-term benefits and costs -- not just an initial purchase price or investment. The way you put the principles of engineering economics into action depends on what kind of decision you must make.
For example, potential economic alternatives for an out-of-date computer network might include updating the current system or building a new system from scratch. During this process you might analyze how each alternative will affect the cost, expected performance and useful lifetime of the system to decide which alternative will provide the most value to the company. Evaluation criteria might include factors such as the purchase and installation costs, annual operating costs, maintenance costs and both principal and interest payments if you plan on using outside financing.
Compare the risks of each alternative against potential economic and non-economic rewards. After making a decision, compare actual results to expectations. Based in Green Bay, Wisc. In addition to writing web content and training manuals for small business clients and nonprofit organizations, including ERA Realtors and the Bay Area Humane Society, Lohrey also works as a finance data analyst for a global business outsourcing company.
Principles of Engineering Economics Jackie Lohrey. Share It. Material Recording General Maintenance About the Author. Photo Credits. Copyright Leaf Group Ltd.
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This text is an unbound, binder-ready edition. Principles of Engineering Economic Analysis, 6th edition teaches engineers to properly and methodically evaluate their work on an economic basis, and to convey it effectively to those who have the power to say "yea" or "nay."/5(29). The new fifth edition has also been expanded from eight to 16 chapters, covering critical topics such as time value of money, measures of worth, depreciation, inflation, and capital rationing. Practicing engineers will be able to apply these principles and techniques to Book Edition: 6th Engineering Economic Analysis: Slide 10 Return on Capital • Why consider return on capital? – For most engineering projects, capital must be tied up for some period of time • Purchase a piece of equipment • Fund a research project – Revenues from the use of capital • Provides incentive to forego using the capital today for consumption.