Engineering means thrifty use of resources (labour, power, and materials). Money is the common measure for these however engineers are rarely taught how the realities of finance and economics will impact on the engineering decisions they make. Financial Fundamentals for Engineers sets out to show how finance interacts with engineering and why it matters.
Basic financial concepts – money, profit, cash-flow - are explained using real-life examples. Key steps in the engineering cycle, like winning tenders, managing projects and getting paid are all explained in the context of becoming profitable and staying solvent.
In the same accessible style that has been so popular with his students, George Solt tells engineers how finance can keep the wheels of engineering turning – and equally how it can cause those wheels to come off with calamitous results.