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Module01 - I Principles of Engineering Economy Engineering...

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I. Principles of Engineering Economy Engineering Economy and the Decision-Making Process Part I
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Engineers provide answers Ability to solve problems or take advantage of opportunities through the application of science Must meet certain criteria Technical feasibility/efficiency: meet or exceed specifications Economic feasibility/efficiency: meet budgets and return Engineering
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Every technical solution has financial consequences Engineering economic analysis determines whether a proposed Engineering Economy
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Profit Enhancing Programs : projects designed to generate revenues New product development New product acquisition Product/service Engineering Economic Decisions
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Posco (Korea) said it would invest $12 billion to build an integrated steel plant in India -- capacity of 12 million tons/yr. Cha, S.-J., “Posco to Invest $3.7B in First Phase of India Steel Plant,” Dow Jones Newswires , December 18, 2005. Photo : DSP PR, “Durgapur Steel Plant,” wikipedia.org, July 12, 2006. Profit Enhancing Examples
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Matsushita and Toray (Japan) will invest Y180 billion to build a plasma display panel (PDP) plant, increasing production by 6 million panels/yr. Nakamoto, M., “Plans revealed for biggest PDP plant - NEWS DIGEST,” Financial Times , p. 29, January 11, 2006. Photo : “Plasma Display,” nsbhs ipt 2009.wikidot.com, information processes and technology, October 30, 2009. Profit Enhancing Examples
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Cargill (USA) announced a $20 million investment to increase capacity of liquid chocolate and a production line for chocolate flakes, drops and chunks in Mouscron, Belgium.
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