Fundamentals of Engineering Economics and Management

Description

The Washington Accord (2009) requires graduate engineers to demonstrate specific competencies in the following areas covered by this course:

By the end of this course the student will be able to:
• Demonstrate an understanding of the principles of management theory (planning, organising, leading and controlling) and their application to professional engineering practice, with particular emphasis on motivation of individuals and groups, organisational structure and job design.  Apply these principles in team and group work.  Demonstrate an understanding of the basic concepts of Quality Management.
• Demonstrate an understanding of the principles of project management and their application to professional engineering practice.  Construct a project plan (including WBS, estimated durations, linkages, resources allocations and budgets) using proprietary or open source PM software.
• Demonstrate a basic understanding of business environments and marketing.
• Demonstrate an awareness of the requirements of effective communication, including an understanding of report writing and other forms of presentation.  (Cultural implications of communication are also covered.)  Write essays and reports (both as an individual and as part of a team) of a professional standard.  Reference sources appropriately.
• Complete peer and self review tasks to a high standard.
• Demonstrate an understanding of management and financial accounting (estimating and budgeting, cost accounting and financial statements).  Construct and analyse simple financial statements (statements of financial position and performance).  Perform simple estimates using a range of techniques and use that information to construct and analyse costs.  .
• Apply techniques such as NPV, IRR and payback appropriately to analyse economic viability of engineering projects.
• Define sustainability and sustainable engineering.  Demonstrate familiarity with current sustainability issues.  Demonstrate knowledge of tools associated with sustainability analysis, and understand their appropriate use. Construct a framework for analysis of specific sustainability issues relevant to their degree major and interests.
• Demonstrate an understanding of and familiarity with the ethical responsibilities of a professional engineer.  Discuss various frameworks for analysis of ethical questions.  Analyse ethical case studies.
• Demonstrate knowledge of legal issues relevant to the professional practice of engineering in NZ, with emphasis on negligence, contract law and other legislation relevant to the practice of engineering and business in NZ.  Demonstrate knowledge of intellectual property practice in NZ.  
• Demonstrate knowledge of the role and responsibilities of the professional engineer in society.