The period of time required to recover the net investment is called payback period, PB.
The project which pays back the initial investment in the smallest period is acceptable under this method.
If (calculated PB <… Read More...
SOCIAL COST BENEFIT ANALYSIS (SCBA)
Social Cost Benefit Analysis(SCBA) is a methodology developed for evaluating investment projects from the point of view of the society (or economy) as a whole. It is a tool for… Read More...
One of the most important responsibilities of the management of computer using business firms is to assure the security and quality of its information services activities. Controls are needed that ensure the accuracy, integrity, and safety… Read More...
Mechanization is the use of machinery to replace human or animal labor, especially in agriculture and industry. Mechanization is minimizing or reducing labor content so as to maximize performance and economy. It spots the use of control… Read More...
Types of Economic Variances
There are mainly 4 types of variances in engineering economics, namely
Direct material cost variance
Direct wages/labor cost variance
Variable overhead variance
Fixed overhead variance
Negative… Read More...
To provide a knowledge of the basic tools and methodology of economic studies for evaluating engineering projects in private industry, in the public sector and in the utilities area.
1.0 Introduction(3 hours)
1.1… Read More...