MITESD_70Jf09_lec01

MITESD_70Jf09_lec01 - MIT OpenCourseWare http:/ocw.mit.edu...

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MIT OpenCourseWare http://ocw.mit.edu ESD.70J / 1.145J Engineering Economy Module Fall 2009 For information about citing these materials or our Terms of Use, visit: http://ocw.mit.edu/terms .
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ESD.70J Engineering Economy Module - Session 1 1 ESD.70J Engineering Economy Fall 2009 Session One Michel-Alexandre Cardin Prof. Richard de Neufville
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ESD.70J Engineering Economy Module - Session 1 2 Today’s class outline 1. Introduction 2. Course outline and philosophy 3. About Excel 4. Session 1 – base case construction and sensitivity analysis
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ESD.70J Engineering Economy Module - Session 1 3 About this class • ESD.70 – Excel modeling • Learn enough Excel to: – Appreciate the power of Excel – Gain confidence in your own Excel modeling prowess – Prepare for ESD.71
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ESD.70J Engineering Economy Module - Session 1 4 • More about uncertainty and flexibility in ESD.71 – Engineering Systems Analysis for Design – ESD.70 provides necessary knowledge of Excel for ESD.71 – Introduction of advanced Excel techniques • Want more? – ESD.72: Engineering Risk Analysis – ESD.712: Tools for Analysis: Design for Real Estate and Infrastructure Development – ESD.344: Real Options for Product and Systems Design – ESD.77: Multi-Disciplinary Systems Design Optimization Other courses
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ESD.70J Engineering Economy Module - Session 1 5 This class is: • Informal: – Please ask questions at any time - A question not asked is a waste of your tuition money! – Compare notes/help each other • Theoretically easy going: – Covering a few relevant theories – you DON’T have to learn theory to benefit from this class – Just learn how to use them in Excel • Take it for credit, or attend to learn/have fun • For credit – no exam – one final assignment!
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ESD.70J Engineering Economy Module - Session 1 6 Course Outline Four (4) recitation-style sessions: 1. NPV, Data Tables, and Sensitivity Analysis – today 2. Monte Carlo simulations 3. Modeling uncertainty using different stochastic models and probability distributions 4. Analyzing the system in the context of flexibility
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ESD.70J Engineering Economy Module - Session 1 7 Course Materials Excel spreadsheets – ESD70session # –1.xls : setup before the class – ESD70session # –2.xls : reflects all the work done in class – Do the exercises with me Æ best way to learn Cells marked as are for you to fill – Refer to the ESD70session# –2.xls to validate your work Lectures in PDF on the web
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ESD.70J Engineering Economy Module - Session 1 8 Good Habits • Help each other: – Introduce yourself to your neighbors … now! – It’s late in the day and everyone is liable to tune-out intermittently. When you do: • Check with your neighbor to catch-up • Ask me – please do! • Look-up solutions in ESD70session# –2.xls file – Help your neighbor and he/she will help you • Better than Facebook to meet new people…
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ESD.70J Engineering Economy Module - Session 1 9 Course Philosophy • Decision-making with an eye towards the future can be approached from two strategic directions:
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This note was uploaded on 12/04/2011 for the course ESD 15.094 taught by Professor Jiesun during the Spring '04 term at MIT.

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MITESD_70Jf09_lec01 - MIT OpenCourseWare http:/ocw.mit.edu...

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