9 Questions
What should the economic decision criterion reflect in an engineering economy study?
Consistent and proper viewpoint
What is the basis for analyzing the economic aspects of an engineering problem?
Cash-flow estimates
Which factor dictates the quality of results obtained in technical-economic modeling and analysis techniques?
Soundness of techniques
How does monitoring project performance during its operational phase impact related goals and objectives?
Improves achievement of goals
What is essential for maintaining consistency in an engineering economy study?
Proper viewpoint
What impacts the recommended course of action in technical-economic modeling?
Quality of modeling analysis techniques
Why are cash-flow estimates important in analyzing engineering problems?
As a basis for analysis
What is crucial for reducing variability in desired results during project performance monitoring?
Monitoring project performance consistently
Which type of viewpoint is NOT conducive to an engineering economy study?
Frequent viewpoint
Learn about the development of prospective outcomes in engineering economic analysis, including how cash flow represents the economic effects of an alternative. Explore the basic principles and procedures involved in decision making with nonmonetary factors.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
