This module introduces the basics of cost management
and the various approaches towards the selection of
equipment and materials for cost-effective operations.
Students will be trained to make decisions on capital
expenditure by performing evaluations of cash flows over
the lifecycle of equipment, plant and machinery. The
time value of money and maximisation of worth are the
main considerations in the studies. Students will be able
to grasp the effects of depreciation, tax, risk, and cost
allocation in evaluating engineering projects.
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