Engineering Cost Analysis

Description

This course provides the latest principles and techniques for the evaluation of engineering design, with an emphasis on analysis and estimation of costs. It analyzes labor, material, accounting, and forecasting; then the theme of estimating is developed, with a study of methods, operations, and products.

Program

B.Sc. in Industrial and Management Engineering 180 Cr. Hr.

Objectives

• It is expected that each student learns the following: Basic concepts of cost estimation, Different types of costs and their differences, Methods used to estimate costs, How to gather information, compile and use a cost estimate, Importance of having a credible, supportable, usable, accurate, achievable, competitive, complete and realistic cost estimate, Compute labour and material components of product cost. Understand the importance of making appropriate economic decisions.