Six Ways to Perform Economic Evaluations of Projects
This online engineering PDH course discusses the money issues. The objective is that while engineers find it necessary to learn the basic accounting and business principles to communicate with accountants; few accountants are willing to learn the engineering details. The basic cost evaluation techniques presented in the course shall help engineers to "think like MBAs and act like engineers".
Installed costs and capital offsets are important economic parameters for evaluation of proposed investment. The concept of money having a time value is fundamental to understanding any economic or financial analysis. This course provides basic fundamentals of cost evaluating that could be applied to new, retrofitting, expansion and modification projects.
This 3 PDH online course is intended for managers, engineers, architects, scientists, auditors, campaigners, academics, equipment manufacturers and designers.
This PE continuing education course is intended to provide you with the following specific knowledge and skills:
- Understanding the six fundamental methods of cost analysis:
- Payback Method
- Return on Investment (ROI)
- Total life cycle cost (present value method)
- Savings/investment ratio (benefit/cost ration method)
- Net present Value (NPV)
- Internal rate of return (IRR)
- Be aware of commonly-used financial terminology and concepts
- Be able to judge and select the right project alternative
In this proessional engineering CEU course, you need to review the document titled "
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