SYEN 7310 - Economic Evaluation of Engineering Projects

Three hours lecture. Three credit hours.

Application of engineering management decision making to the life-cycle economic evaluation of engineering projects. Topics include decisions regarding investment in new or existing facilities and improvement of processes in both manufacturing and service industries. Deterministic, stochastic and multi-attribute evaluation approaches with the objectives of profit and utility maximization, as well as cost and risk reduction techniques are explored.

Prerequisites: Math 1453, SYEN 3312 and 3314 or their equivalents, or consent of the instructor.