Business & Economics

Fundamentals of engineering economics

Author: Chan S. Park

Publisher: Prentice Hall

ISBN:

Category: Business & Economics

Page: 538

View: 118

New from the author of the best-selling "Contemporary Engineering Economics" book, "Fundamentals of Engineering Economics" offers concise, but in-depth coverage of all fundamental topics of Engineering Economics. A four-part organization outlines an understanding of money and its management, how to evaluate business and engineering assets, .the development of project cash flows, and special topics in engineering economics. For individuals interested in the field of industrial, civil, mechanical and electrical engineering.
Business & Economics

Fundamentals of Engineering Economics, Chan S. Park, 2004

Author: Pearson Education, Inc

Publisher: Bukupedia

ISBN:

Category: Business & Economics

Page: 552

View: 638

Preface Engineering economics is one of the most practical subject matters in the engineering curriculum. but it is always challenging and an ever-changing discipline. Contemporary Engineering Economics (CEE) was first published in 1993, and since then we have tried to reflect changes in the business world in each new edition, along with the latest innovations in education and publishing. These changes have resulted in a better, more complete textbook, but one that is much longer than it was originally intended. This may present a problem: today, covering the textbook in a single term is increasingly difficult. Therefore, we decided to create Fundamentals of Engineering Economics (FEE) for those who like Fundanzentals but think a smaller, more concise textbook would better serve their needs. This text aims not only to provide sound and comprehensive coverage of the concepts of engineering economics, but also to address the practical concerns of engineering economics. More specifically, this text has the following goals: 1. To build a thorough understanding of the theoretical and conceptual basis upon which the practice of financial project analysis is built. 2. To satisfy the very practical needs of the engineer toward making informed financial decisions when acting as a team member or project manager for an engineering project. 3. To incorporate all critical decision-making tools-including the most contemporary, computer-oriented ones that engineers bring to the task of making informed financial decisions. 4. To appeal to the full range of engineering disciplines for which this course is often required: industrial, civil, mechanical, electrical, computer, aerospace, chemical, and manufacturing engineering, as well as engineering technology. This text is intended for use in the introductory engineering economics course. Unlike the larger textbook (CEE), it is possible to cover FEE in a single term, and perhaps even to supplement it with a few outside readings or cases. Although the chapters in FEE are arranged logically, they are written in a flexible, modular format. allowing instructors to cover the material in a different sequence. xvi PREFACE We decided to streamline the textbook by retaining the depth and level of rigor in CEE, while eliminating some less critical topics in each chapter. This resulted in reducing the total number of chapters by four chapters in two steps. Such core topics as the time value of money, measures of investment worth, development of project cash flows. and the relationship between risk and return are still discussed in great detail. First, we eliminated the three chapters on cost accounting, principles of investing, and capital budgeting. We address these issues in other parts of the textbook, but in less depth than was contained in the deleted chapters. Second, we consolidated the two chapters on depreciation and income taxes into one chapter, thus eliminating one more chapter. This consolidation produced some unexpected benefits-students understand depreciation and income taxes in the context of project cash flow analysis, rather than a separate accounting chapter. Third. moving the inflation material from late in the textbook to the end of the equivalence chapters enables students to understand better the nature of inflation in the context of time value of money. Fourth, the project cash flow analysis chapter (Chapter 9) is significantly streamlined-it begins with the definitions and classifications of various cost elements that will be a part of a project cash flow statement. Then. it presents the income tax rate to use in developing a project cash flow statement. It also presents the appropriate interest rate to use in after-tax economic analysis. Finally, it illustrates how to develop a project cash flow statement considering (1) operating activities, (2) investing activities, and (3) financing activities. Fifth, the handling project uncertainty chapter (Chapter 10) has been consolidated by introducing the risk-adjusted discount rate approach and investment strategies under uncertainty, but eliminating the decision-tree analysis. Finally, the chapter on understanding financial statements has been moved to the end of the book as a capstone chapter, illustrating that a corporation does not make a large-scale investment decision on an engineering project based on just profitability alone. It considers both the financial impact on the bottom-line of business as well as the market value of the corporation. FEE is significantly different from CEE, but most of the chapters will be familiar to users of CEE. Although we pruned some material and clarified, updated, and otherwise improved all of the chapters, FEE should still be regarded as an alternative version of CEE. Although FEE is a streamlined version of CEE, we did retain all of the pedagogical elements and supporting materials that helped make CEE so successful. Some of the features are: PREFACE xvii Each chapter opens with a real economic decision describing how an individual decision maker or actual corporation has wrestled with the issues discussed in the chapter. These opening cases heighten students' interest by pointing out the real-world relevance and applicability of what might otherwise seem to be dry technical material. There are a large number of end-of-chapter problems and exam-type questions varying in level of difficulty; these problems thoroughly cover the book's various topics. Most chapters contain a section titled "Short Case Studies with Excel," enabling students to use Excel to answer a set of questions. These problems reinforce the concepts covered in the chapter and provide students with an opportunity to become more proficient with the use of an electronic spreadsheet. The integration of computer use is another important feature of F~lndametztuls of Engineering Econortlics. Students have greater access to and familiarity with the various spreadsheet tools, and instructors have greater inclination either to treat these topics explicitly in the course or to encourage students to experiment independently. A remaining concern is that the use of computers will undermine true understanding of course concepts. This text does not promote the trivial or mindless use of computers as a replacement for genuine understanding of and skill in applying traditional solution methods. Rather, it focuses on the computer's productivityenhancing benefits for complex project cash flow development and analysis. Specifically, Fundatnentuls of Engineering Economics includes: A robust introduction to computer automation in the form of the Cash Flow Analyzer problem, which can be accessed from the book's website An introduction to spreadsheets using Microsoft Excel examples. For spreadsheet coverage, the emphasis is on demonstrating complex concepts that can be resolved much more efficiently on a computer than by traditional longhand solutions. The companion website ( ) has been created and maintained by the author.This text takes advantage of the Internet as a tool that has become an increasingly important resource medium used to access a variety of information on the Web. This website contains a variety of resources for both instructors and students, including sample test questions, supplemental problems, and various on-line financial calculators. As you type the address and click the open button, you will see the Fz~ndamentals of Engineering Economics Home Page (Figure PI). As you will note from the figure, several menus are available. Each menu item is explained as follows: Study Guides. Click this menu to find out what resource materials are available on the website. This site includes (1) sample text questions, (2) solutions to chapter problems, (3) interest tables, and (4) computer notes with Excel files of selected example problems in the text. .pap!,io~d elep 3!ruouo3a aa!luluasaldal ayl JO auros ale sa3!pu! 1so3 luauriCo1dura pue .sarn;i!~ ill!~!l3npord 'sa3!pu! a31~d~ aurnsuo:, ayl L~e~n3!i~u1e d.s puaq ale1 isalalu! lua3a1 isour ayl se IIaM se uoqerurojuy a3pd pue is03 sapnpu! uo!was s!~~sy~ eJr!IlII OUOJ~ .suo!le3!1qnd il~qmourp uv 'L~yaam 'ilpep pue 'shzau aug-uo olu! 21a11n0 s~asuap !a!p al!s ayl 'qaM ayl uo sIa1 -$no s~a[usp ueur~sn o!le,i 01 ssa~sea p!~o.tdu oqsas slru 'sMaN le!x~uru!a .saxel sule8 lel1de3 se IIa~fi se sa1npay3s uogepardap uo uo!~r?ur~o~alue!p -01-dn ~sorua yl pug I~MnolC os 'qa~ajy l uo salrs xel sno1.1eao1 pap~ao~alde syu!~'sa xel auroorr! aimed -103 se IlaM se ~euos~Baud! pnpu! 'uo!luruloju! xel8~!3ueys-~a,i8au !leu!ruas -s!p jo surlal u! asnoyBu!~ea~es sr? ai\.las [I!M uo!pas s!y_L .uo!yeurrojuI xe~ .Joyme ayl ilq pado~aaaps aiou alnpa~pu g osle 1p.liz noA.illa!lea u! se [[aM se aLun[oa u! papuedxa aq I~!M il.~e~q!als u3 ayl 'punoj lo padolaaap ale sauo MSU se Inq 'papr~olda q 111" sura1qold ase3 Ma3 e L~uok iC{[e~lru~ 'uo!le301 s!q~ le palsq s! sa!pnls ase3 ~!UIOUOS~u!~.1 aau!8ua pau3ysap -1IaM jo uor13a1103 v 'auryl ISJ!J ayl .IOJ lxal s!yl Idope oys~loi ~nl~s0u1! prr? ue se paprao~da le UIalshs Jalsauras e su ITaM se lipallenh e uo paseq Yaug -1no aslno3 'L11e3!dil~' uo!lu3o[ s~qul! punoj s! lxa3 s7!z~louon3B zl!naau?Suy SO s~viuauvpu?zaj yl yl!~as.1 1103 3!urou03a 2u!laau!8ua ue q3ea1 oq,n s~ol -nn.llsu! 01 Injasn uoyeurJoju! sapnpu! uoy3as s!.s~a~ ~nosa~ao y~n~pu~ .slndliio :,!rldr?.r2 papa~as lasn puc saInpour [euo!lelndwo:, JO iCe.r~e aalsualsa ue (5) pue 'suo1lr?3~~!poupr w ~ndu!e lsp loj lollpa MOLT qsc3 asn-01-Ass:, puc aIq!xaa e (I) sap~aoldI! pue ;ilq!q!xau pue a3uaruaauo3 loj ua,ipp nuaur s! $1 .s!s -iC~eu3~!r uouo3a jo sporl13u1 pasn iC1luanba.q lsou~a yl sapnpu! aleM1jos aqL .eaq u! uall!liM a8e~3uda le.uqos ~alndu10p3a lei8alu~u e s! laziileuv M~J I ysv3 ay_Z,.laula$uIa yl uo aIqeIyeae s.to~elnq-erI,e !sueu!j SIIO!J~A JO uo!lsa[103 e jz) p11e ~azd~euMvOI J yse3 e (I) sapnpu! u0!13as s!.S~[OO Ls !s~~[~uv -- r a r,?~: w oo. v ...it,> btn~n-, rds t u r n ~ ' PREFACE xix Money and Investing. This section provides a gateway to a variety of information useful to co~lductinge ngineering economic analysis. For example, a direct link is provided to the most up-to-date stock prices. options, and mutual funds performances. FEE includes several ancillary materials designed to enhance the student's learning experience, while making it easier for the instructor to prepare for and conduct classes. The ancillaries are described below. For Students Excel for Engineering Economics (supplement), containing information on how to use Excel for engineering economic studies and various Excel applications. Study Guides for F~~ndarnentalosf Engineering Ecorlomics (supplement), which contains more than 200 completely worked out solutions and guides on how to take the FE exam on engineering economics and sample test questions. For Instructors A comprehensive Instructor's Manlrnl that includes answers to end-of-chapter problems and Excel solutions to all complex problems and short case studies. A CD-ROM containing Powerpoint slides for lecture notes. the entire contents of the Instructor Manual in Word format, test questions, and Excel spreadsheet files. This book reflects the efforts of a great many individuals over a number of years. In particular, I would like to recognize the following individuals. whose reviews and comments have contributed to this edition. Once again, I would like to thank each of them: Richard V. Petitt, lJnited States Military Academy; James R. Smith, Tennessee Technological University; Bruce Hartsough, University of California at Davis; Iris V. Rivero, Texas Tech University; Donald R. Smith, Texas A&M University; Bruce McCann, University of Texas at Austin: Dolores Gooding, University of South Florida; and Stan Uryasev. University of Florida. Personally, I wish to thank the following individuals for their additional input to the new edition: Michael D. Park, McKinsey & Company, who read the entire manuscript and offered numerous and critical comments to improve the content of the book; Luke Miller, Yeji Jung and Edward Park, who helped me in preparing the Instructor's Manual: Junmo Yang, who helped me in developing the book website: Dorothy Marrero, my editor at Prentice Hall. who assumed responsibility for the overall project; and Scott Disanno, the production editor. who oversaw the entire book production. CHAN S. PARK Auburn, Alabama nderstandi

Power Plants

Author: Stan Kaplan

Publisher: DIANE Publishing

ISBN:

Category:

Page: 102

View: 637

This is a print on demand edition of a hard to find publication. Analyzes the factors that determine the cost of electricity from new power plants. These factors -- including construction costs, fuel expense, environ. regulations, and financing costs -- can all be affected by government, energy, environmental, and economic policies. Contents: (1) Intro. and Org.; (2) Types of Generating Technologies: Electricity Demand and Power Plant Choice and Operation; Utility Scale Generating Technologies; (3) Factors that Drive Power Plant Costs; (4) Fuel Costs. Appendixes: Power Generation Technology Process Diagrams and Images; Estimates of Power Plant Overnight Costs; Estimates of Technology Costs and Efficiency with Carbon Capture; Financial and Operating Assumptions. Charts and tables.
Technology & Engineering

The CRC Handbook of Mechanical Engineering, Second Edition

Author: D. Yogi Goswami

Publisher: CRC Press

ISBN:

Category: Technology & Engineering

Page: 2688

View: 837

Since the first edition of this comprehensive handbook was published ten years ago, many changes have taken place in engineering and related technologies. Now, this best-selling reference has been updated for the 21st century, providing complete coverage of classic engineering issues as well as groundbreaking new subject areas. The second edition of The CRC Handbook of Mechanical Engineering covers every important aspect of the subject in a single volume. It continues the mission of the first edition in providing the practicing engineer in industry, government, and academia with relevant background and up-to-date information on the most important topics of modern mechanical engineering. Coverage of traditional topics has been updated, including sections on thermodynamics, solid and fluid mechanics, heat and mass transfer, materials, controls, energy conversion, manufacturing and design, robotics, environmental engineering, economics and project management, patent law, and transportation. Updates to these sections include new references and information on computer technology related to the topics. This edition also includes coverage of new topics such as nanotechnology, MEMS, electronic packaging, global climate change, electric and hybrid vehicles, and bioengineering.
Political Science

Energy: Wind

Author: Donald Marples

Publisher: The Capitol Net Inc

ISBN:

Category: Political Science

Page: 812

View: 822

Since early recorded history, people have been harnessing the energy of the wind. In the United States in the late 19th century, settlers began using windmills to pump water for farms and ranches, and later, to generate electricity for homes and industry. Industrialism led to a gradual decline in the use of windmills. The steam engine replaced European water-pumping windmills, and in the 1930s, the Rural Electrification Administration's programs brought inexpensive electric power to most rural areas in the United States. However, industrialization also sparked the development of larger windmills, wind turbines, to generate electricity.
Business & Economics

Engineering Management

Author: C. M. Chang

Publisher: CRC Press

ISBN:

Category: Business & Economics

Page: 550

View: 867

Engineering Management: Meeting the Global Challenges prepares engineers to fulfill their managerial responsibilities, acquire useful business perspectives, and take on the much-needed leadership roles to meet the challenges in the new millennium. Value addition, customer focus, and business perspectives are emphasized throughout. Also underlined are discussions of leadership attributes, steps to acquire these attributes, the areas engineering managers are expected to add value, the web-based tools which can be aggressively applied to develop and sustain competitive advantages, the opportunities offered by market expansion into global regions, and the preparations required for engineering managers to become global leaders. The book is organized into three major sections: functions of engineering management, business fundamentals for engineering managers, and engineering management in the new millennium. This second edition refocuses on the new strategy for science, technology, engineering, and math (STEM) professionals and managers to meet the global challenges through the creation of strategic differentiation and operational excellence. Major revisions include a new chapter on creativity and innovation, a new chapter on operational excellence, and combination of the chapters on financial accounting and financial management. The design strategy for this second edition strives for achieving the T-shaped competencies, with both broad-based perspectives and in-depth analytical skills. Such a background is viewed as essential for STEM professionals and managers to exert a strong leadership role in the dynamic and challenging marketplace. The material in this book will surely help engineering managers play key leadership roles in their organizations by optimally applying their combined strengths in engineering and management.
Technology & Engineering

Location, Transport and Land-Use

Author: Yupo Chan

Publisher: Springer Science & Business Media

ISBN:

Category: Technology & Engineering

Page: 929

View: 130

1. Theme and focus Few books are available to integrate the models for facilities siting, transportation, and land-use. Employing state-of-the-art quantitative-models and case-studies, this book would guide the siting of such facilities as transportation terminals, warehouses, nuclear power plants, military bases, landfills, emergency shelters, state parks, and industrial plants. The book also shows the use of statistical tools for forecasting and analyzing implications of land-use decisions. The idea is that la- use on a map is necessarily a consequence of individual, and often conflicting, siting decisions over time. Since facilities often develop to form a community, these decisions are interrelated spatially—i. e. , they need to be accessible to one another via the transportation system. It is our thesis that a common methodological procedure exists to analyze all these spatial-temporal constructs. While there are several monographs and texts on subjects related to this book's, this volume is unique in that it integrates existing practical and theoretical works on facility-location, transportation, and land-use. Instead of dealing with individual facility-location, transportation, or the resulting land-use pattern individually, it provides the underlying principles that are behind these types of models. Particularly of interest is the emphasis on counter-intuitive decisions that often escape our minds unless deliberate steps of analysis are taken. Oriented toward the fundamental principles of infrastructure management, the book transcends the traditional engineering and planning disciplines, where the main concerns are often exclusively either physical design, fiscal, socioeconomic or political considerations.