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Principles & Practices of Engineering & Industrial Economics (Hardcover)
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Principles & Practices of Engineering & Industrial Economics (Hardcover)
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Every dollar an executive proposes to spend or proposes not to
spend has to be subjected to economic decision making. Expenditure
and investment proposals can be for cost reduction or income
expansion. In some cases, both may be realized. For both the
proposals, economic decision making is essential. The goal of
equipment selection in a business system is acceptable financial
efficiency, not engineering efficiency. The engineering economic
analysts test the profitability of a proposed operation, or choose
the best option among the existing alternatives. The book
"Principles and Practices of Engineering & Industrial
Economics" covers issues ranging from project formulation steps -
through data collection, costing of project, detail financial
analysis, decision rules, risk analysis and environmental
considerations to model study for financial and scenario analysis
for decision making.
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