Lecture_02_Cost_Engineering

Lecture_02_Cost_Engineering - EGR 102 Introduction to...

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EGR 102 Introduction to Engineering Modeling Cost Engineering gg EGR 102 Lecture 02 1
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EGR 102 Before you take your seat, lace your Lecture HW 01 place your Lecture HW 01 in the appropriate envelope at the back of the room (printed name, lab section # and PID n top page & pages stapled) EGR 102 Lecture 02 2 on top page & pages stapled)
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Homework #1 ± Linear Drag ± Drag force proportional to velocity gp p y ± Appropriate for low velocity ± uadratic Drag Quadratic Drag ± Drag force proportional to velocity ^ 2 ± Appropriate for higher velocity ± Determined by Reynold’s number EGR 102 Lecture 02 3
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Background ± A cost engineering study involves xamining technical alternatives and examining technical alternatives and expressing their differences in terms of oney money ± Cost is a general term that often includes vestments such as me nd other investments such as time and other resources EGR 102 Lecture 02 4
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Engineering Decisions General John T. Carty, Chief Engineer of New York Telephone Co., asked 3 questions to evaluate engineering proposals: 1. Why do this at all? 2. Why do it now? 3. Why do it this way? Basis for engineering measurement? ost r $$ EGR 102 Lecture 02 5 ± Cost or $$$
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Why do this at all? ± This question makes an inquiry regarding profit . The reason for doing something in business is that it is profitable to do so. ± Fundamental question to evaluate proposals: Will it pay? EGR 102 Lecture 02 6
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Why do it now? ± This question asks whether the person(s) proposing the project examined the time alternative ± Is this the best time ? ± Can we do this later and make more profit ? EGR 102 Lecture 02 7
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Why do it this way? ± Did we consider all other alternatives ? ± Is the solution proposed the most profitable ? pp p ± What are the consequences of doing it this way? EGR 102 Lecture 02 8
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An Example ± An engineering executive decides to keep a machine in service even if it experiences frequent reakdowns breakdowns. ± What are the alternatives? ± What are the consequences?
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Lecture_02_Cost_Engineering - EGR 102 Introduction to...

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