Engineering Economics of Life Cycle Cost Analysis

The field of engineering has witnessed significant transformations over the past century. With advanced computing methods, instant communication, elimination of lower to middle management, increased intricacy, and highly effective supply chains, all these factors have greatly impacted the responsibilities of engineers at all levels. The future will necessitate cost-effective solutions that are safer, interconnected, software-centric, and intricate. Employees at all levels need to be capable of formulating accurate cost approximations based on justifiable cost evaluations. It is within this context that this publication is being developed.

This textbook goes beyond basic engineering economics by presenting the methods, processes, and tools essential for conducting cost analysis, estimation, and management of complex systems.

Highlights

• Emphasizes systems life cycle costing
• Incorporates materials beyond fundamental engineering economics, such as simulation-based costing
• Approaches cost estimation, analysis, and management from a comprehensive ownership cost perspective
• Showcases numerous real-life examples
• Includes Excel-based textbook/resources
• Offers PowerPoint slides, Highlights Guide, and author website with downloadable Excel resources