The rise of the information age and the digital economy has dramatically changed engineering. With tremendous advances in computing and communication systems, causing major organizational upheaval, all fueled by complexity, globalization, short cycle times, and lean supply chains, the functions of engineers have significantly changed. Engineers must be technically savvy and have product management and costing skills all while working in a distributed and often unstable environment. This new edition textbook is updated to cover the integration of cost, risk, value, scheduling, and information technologies going beyond basic engineering economics.
Engineering Economics of Life Cycle Cost Analysis, Second Edition offers a systems and life cycle or total ownership cost perspective. It presents advanced costing techniques such as simulation-based costing, decision analysis, complex systems costing, software, big data, and cloud computing estimation. Examples and problems demonstrating these techniques with real-world applications are also included.
All engineers will find this book useful, but it is mainly written for systems engineers, engineering management, and industrial engineers along with graduate courses on advanced engineering economic analysis and cost management, and financial analysis for engineers. To assist with classroom teaching, the textbook provides an instructor's manual for qualified course adoption and downloadable Excel solutions.