Engineering Economic Analysis: Development of Prospective Outcomes

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Questions and Answers

What should the economic decision criterion reflect in an engineering economy study?

  • Inconsistent viewpoint
  • Intermittent viewpoint
  • Consistent and proper viewpoint (correct)
  • Variable viewpoint

What is the basis for analyzing the economic aspects of an engineering problem?

  • Market trends
  • Cash-flow estimates (correct)
  • Historical data
  • Technological advancements

Which factor dictates the quality of results obtained in technical-economic modeling and analysis techniques?

  • Political implications
  • Environmental impact
  • Soundness of techniques (correct)
  • Social considerations

How does monitoring project performance during its operational phase impact related goals and objectives?

<p>Improves achievement of goals (D)</p> Signup and view all the answers

What is essential for maintaining consistency in an engineering economy study?

<p>Proper viewpoint (C)</p> Signup and view all the answers

What impacts the recommended course of action in technical-economic modeling?

<p>Quality of modeling analysis techniques (D)</p> Signup and view all the answers

Why are cash-flow estimates important in analyzing engineering problems?

<p>As a basis for analysis (D)</p> Signup and view all the answers

What is crucial for reducing variability in desired results during project performance monitoring?

<p>Monitoring project performance consistently (A)</p> Signup and view all the answers

Which type of viewpoint is NOT conducive to an engineering economy study?

<p>Frequent viewpoint (C)</p> Signup and view all the answers

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