Engineering Managerial Economic Decision and Risk Analysis: Economic Decision-Making and Risk Analysis

This book is for engineering managers or undergraduate students preparing to become engineering managers who will be actively involved in managing economic-risk trade-off decisions for engineering investments within an organizational system. It provides an easy-to-understand, up-to-date, and coherent treatment of the management of the economic-risk trade-offs of engineering investments, covering foundational economic and accounting concepts to cost estimating and fundamental engineering managerial economic decision-making incorporating risk.

Format: Hardback
Length: 490 pages
Publication date: 19 November 2021
Publisher: Springer Nature Switzerland AG

This comprehensive book is designed to guide engineering managers or undergraduate students aspiring to pursue careers in engineering management, particularly those who will be actively involved in making economic-risk trade-off decisions for engineering investments within organizational systems. In the dynamic landscape of today's global economy, this may entail managing the economic risks associated with engineering investments across national boundaries within international organizations, government agencies, or service organizations. As such, this book is characterized as applied in nature. The primary objective of this book is to offer a clear, up-to-date, and coherent treatment of managing the economic-risk trade-offs of engineering investments. To achieve this, it systematically builds upon foundational economic and accounting concepts, progressing to cost estimation and traditional engineering economics knowledge, culminating in fundamental engineering managerial economic decision-making that incorporates risk considerations into engineering management economic decisions.

The book is structured in a logical and sequential manner, making it accessible to readers with varying levels of economic and engineering expertise. It begins by introducing fundamental economic and accounting principles, which provide the foundation for understanding the economic implications of engineering investments. From there, the book delves into cost estimation techniques, helping readers to evaluate the financial implications of different investment options.

The next phase encompasses traditional engineering economics knowledge, covering topics such as opportunity cost, risk analysis, and decision-making under uncertainty. This knowledge is essential for engineering managers to make informed decisions that balance economic risks with engineering objectives.

Finally, the book emphasizes the integration of risk into engineering management economic decisions. It discusses various risk management strategies, such as risk assessment, risk mitigation, and risk financing, and how they can be applied to engineering investments.

Throughout the book, real-world examples and case studies are used to illustrate the practical application of the discussed concepts. These examples help readers to understand the complexities of engineering management economic decision-making and apply the theoretical principles to real-world scenarios.

In conclusion, this comprehensive book is an invaluable resource for engineering managers and undergraduate students seeking to excel in the field of engineering management. It provides a thorough and practical understanding of managing the economic-risk trade-offs of engineering investments, enabling readers to make informed and effective decisions in today's competitive global economy.

Weight: 1008g
Dimension: 235 x 155 (mm)
ISBN-13: 9783030877668
Edition number: 1st ed. 2022