Podcast
Questions and Answers
What stimulates the recognition of a problem in an organization?
What stimulates the recognition of a problem in an organization?
- Internal maintenance needs
- External customer demands (correct)
- Routine procedures
- Financial audits
From which perspective should the formulation of a recognized problem be viewed?
From which perspective should the formulation of a recognized problem be viewed?
- Systems perspective (correct)
- Departmental perspective
- Historical perspective
- Individual perspective
What is the purpose of evaluating a recognized problem in an organization?
What is the purpose of evaluating a recognized problem in an organization?
- To complicate the situation
- To ignore the problem
- To refine needs and requirements (correct)
- To avoid finding solutions
What criterion defines whether an alternative is feasible for further analysis?
What criterion defines whether an alternative is feasible for further analysis?
What principle from Engineering Economy is applied in the development of prospective outcomes?
What principle from Engineering Economy is applied in the development of prospective outcomes?
What do cash flows represent in the context of evaluating alternatives?
What do cash flows represent in the context of evaluating alternatives?
What is the first step in recognizing a decision problem?
What is the first step in recognizing a decision problem?
Which of the following is NOT a step in making an economic decision according to the text?
Which of the following is NOT a step in making an economic decision according to the text?
What should be considered when identifying feasible decision alternatives?
What should be considered when identifying feasible decision alternatives?
Which car was selected as the best alternative for leasing based on the text?
Which car was selected as the best alternative for leasing based on the text?
In engineering economy, what should be focused on when comparing alternatives?
In engineering economy, what should be focused on when comparing alternatives?
What should provide a comprehensive doctrine for developing the methodology according to Principles of Engineering Economy?
What should provide a comprehensive doctrine for developing the methodology according to Principles of Engineering Economy?
What is the purpose of comparing alternatives in engineering economic analysis?
What is the purpose of comparing alternatives in engineering economic analysis?
Why is the preferred alternative considered a result of the total effort?
Why is the preferred alternative considered a result of the total effort?
What is the purpose of performance monitoring and post-evaluation in engineering projects?
What is the purpose of performance monitoring and post-evaluation in engineering projects?
What happens during performance monitoring in an engineering project?
What happens during performance monitoring in an engineering project?
Why is post-evaluation feedback important for ongoing improvement in operations?
Why is post-evaluation feedback important for ongoing improvement in operations?
Why is the final step of performance monitoring often highlighted as needing particular attention in engineering practice?
Why is the final step of performance monitoring often highlighted as needing particular attention in engineering practice?
