p_eval04_intro

p_eval04_intro - 1.011 Project Evaluation Introduction...

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1.011 Project Evaluation Introduction Course Requirements & Overview Principles of Engineering Economy Assignment 1 Civil Projects & Civilization What is a Successful Project?
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Learning Objectives Methodology: Apply the basic methods of engineering economics in evaluating major infrastructure projects Develop and apply simple models for estimating costs and resources required for major infrastructure projects Explain and critique the process used to evaluate major infrastructure projects Process: Understand the life-cycle of major projects Appreciate the complexity of major projects and the role for and limits of analysis in clarifying and resolving issues
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Basic Concerns (Sullivan et al., Engineering Economy) Basic questions for any project: "Will its benefits exceed its costs? "Is this the best possible project? Focus of "Engineering Economy" "Systematic evaluation of the costs and benefits of proposed [or of potential] projects" "Analysis of alternative uses of financial resources, particularly in relation to the physical assets and the operations of an organization" "Tradeoffs among different types of costs and the performance provided"
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What is Your Role as an Engineer? Build projects Design projects Evaluate projects Propose projects Define problems - Increasing complexity - Decreasing certainty - More possibilities - Greater need for imagination and leadership
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Principles (Sullivan et al., pp. 4-7) Develop the alternatives Focus on the differences Use a consistent viewpoint
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This note was uploaded on 11/29/2011 for the course CIVIL 1.00 taught by Professor Georgekocur during the Spring '05 term at MIT.

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p_eval04_intro - 1.011 Project Evaluation Introduction...

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