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Engineering economics and finance, project management, design and investment decisions, ethics, and safety in the process industry.
The course loosely follows the life cycle of the financial and engineering management of processing facilities from initial planning through to full production.It covers:• Capital and operating cost estimation• Economic evaluation, project management, risk, contracts• Company financial statements• Ethics, interviews, employment contracts• Tools for process optimisation including data analytics• Control strategy development• Hazard identification methods and risk estimation techniques used in the process industry (Gavin Hedley, 10 lectures)
Students should:Be able to estimate the capital cost of a chemical engineering processUnderstand the time value of money as it is applied to investment decisionsBe able to evaluate the economic worth of a chemical engineering processUnderstand company accounting well enough to be able to determine the effect of engineering projects on company financial statementsUnderstand social and cultural matters that might influence investment decisionsUnderstand some ethical and employment matters that might affect chemical engineersBe able to apply control strategies to plant design and operationUnderstand some techniques and language of data analyticsBe able to apply hazard identification methods such as HAZOP and order-of-magnitude risk estimation techniques
Students must attend one activity from each section.
Ken Morison
Gavin Hedley
35 lectures and 5 assignments. Attendance at all lectures is highly encouraged. Students who do not complete all assignments and the exam are much less likely to pass.
Bouman, R.W., Jesen, S.B., Wake, M.L. & Earl, W.B; Process Capital Cost Estimation for New Zealand 2004, Society of Chemical Engineers New Zealand ; *; *, 2005 (Available to students on Learn).
Towler, G.P. and Sinnott, R.K; Chemical Engineering Design: Principles, Practice and Economics of Plant and Process Design, 2nd ed, Butterworth-Heinemann, Oxford ; *; * (Available as an ebook from the library).
All information about academic policies (e.g. special consideration, dishonest practice) can be found on the ENCH-Undergraduate LEARN page.
Relation to Other Courses:This is a compulsory course. It provides preparation for ENCH494 and for graduate employment.
Domestic fee $1,197.00
International fee $6,000.00
* All fees are inclusive of NZ GST or any equivalent overseas tax, and do not include any programme level discount or additional course-related expenses.
For further information see Chemical and Process Engineering .