Engineering
E213 Engineering Cost Decisions
This module develops students’ ability to apply economic and analytical principles to make informed cost-related decisions across the lifecycle of engineering systems, equipment, and projects.
It introduces fundamental cost management principles, with emphasis on cash flow analysis and the concept of the time value of money. Students learn to apply economic evaluation methods such as equivalence worth, rate of return, and payback analysis to assess project feasibility and support decision-making. The module also examines key financial factors including depreciation, taxation, risk, and replacement analysis to evaluate engineering projects and compare alternative solutions.