Engineering economy

Students are taught to perform an economic analysis for an engineering project (infrastructure project, ICT investment). This including choosing between different technical alternatives or replacing an existing project/infrastructure with a new one. Goal is to evaluate technical solutions from a non-pure technical perspective, by taking into account investment costs and operational costs, uncertainty, expected lifetime and flexibility throughout the course of the project

Goal of the course

Students perform an engineering economic analysis, meaning that they quantify expected costa and benefits for a given engineering project (infrastructure project, ICT project)

The students

Bachelor or master student, from a specific degree, multidisciplinary group, different languages, ...
1st Master in Engineering (burgerlijk ingenieur), divers disciplines (IEOR, computer science, electrical engineering, civil engineering, mechanical engineering, ...)

Input at the start

Briefing document describing the engineering project at hand. + Time to sit discuss and answer questions from the student several times throughout the semester (can be short video calls or telephone calls)

End result

A report describing the economic analysis of the engineering project at hand, based on the assumptions discussed with the external organisation. Most probably also a sensitivity analysis is included.

Example projects

study the impact of the potential use of location sensors in order to improve the operations (reduce the amount of material lost or misplaced) on a construction site

Practicalities

Teaching language

English

Budget

Worktime for students

30 h

Timing

1st semester