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Engineering Decision 3

Engineering Decision 3

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Published by tayyab236

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Published by: tayyab236 on Feb 13, 2010
Copyright:Attribution Non-commercial


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Engineering Economics
Engr.Wajahat Maqbool
Engineering projects
Use resources: raw materials, labor, money, time
Can be undertaken in a variety of ways
Choose one alternative to a problem
Determine the economically best alternative
Need to understand the relationship betweentime and money
In many decisions costs and benefits are themost important factors
What is Engineering Economy?
Engr.Wajahat Maqbool
Define problemChoose objectivesIdentify alternativesEvaluate consequencesSelect the bestImplementAudit results
The Decision Making Process
Engr.Wajahat Maqbool

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