Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Penn State University Erie, The Behrend College; Joseph Wilck, United States Air Force Academy; Omar Ashour, Pennsylvania State University Erie, The Behrend College

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

, Engineering, and EntrepreneurshipAbstractCreative minds often times have innovative ideas for designing products and services that maylead to successful businesses but these potential entrepreneurs often need an outside perspectivefrom practitioners trained in business and engineering that can analyze potential ideas, performengineering economic analyses, and help construct business plans to help entrepreneurs proceedin a fiscally responsible and systematic manner. Engineering economy is at the center of eachand every business decision made in today’s fast paced business world. Whether it be a rate ofreturn analysis, payback analysis, net present worth analysis or a host of other engineeringeconomic analyses, the ultimate

Conference Session

Engineering Economy Division Technical Session 1

Collection

2016 ASEE Annual Conference & Exposition

Authors

Wolter J. Fabrycky P.E., Virginia Tech

Tagged Divisions

Engineering Economy

. EE@SL Section V: Extending Equivalence to the System level It should be noted again that the general Design Evaluation Function (DEF) is a combined equivalence approach with its genesis in monetary time value and economic optimization. There is nothing new here except recognition that Engineering Economy content and life-cycle mapping, as in Figure 6, have much in common. System thinking at a higher level is the key consideration, with EE@SL in mind.6VI. Choosing the Preferred System DesignThe Decision Evaluation Display (DED) method of making decisions in the face of multi-criteriais presented (and preferred for choosing from among mutually exclusive design alternatives -candidate systems). Some decision makers consider

Conference Session

Engineering Economy Division Technical Session 2

Collection

2016 ASEE Annual Conference & Exposition

Authors

Jerome P. Lavelle, North Carolina State University

Tagged Divisions

Engineering Economy

you mind if we ask your mother’s mother about this recipe?” “Of course not” was the reply of the first chef, however he probably wasn’t ready for the answer that his grandmother gave. Her reply was “Goodness no, that’s not how one cooks roast beef, how wasteful! You see, when your mother was growing up the only cooking pot that I owned was somewhat small, so whenever I had a large cut of meat like a roast beef I would cut off the ends so that it could fit in the pan.”  As engineers we know that after a process is designed and implemented the initial internal and external design assumptions, constraints and opportunities change over time. What fit and worked well in one timeframe may not hold over time. With this

Conference Session

Engineering Economy Division Technical Session 3

Collection

2016 ASEE Annual Conference & Exposition

Authors

Deborah Ann Pedraza, Texas Tech University; Mario G. Beruvides P.E., Texas Tech University

Tagged Topics

ASEE Diversity Committee

Tagged Divisions

Engineering Economy

Paper ID #17478The Relationship Between Course Assignments and Academic Performance:An Analysis of Predictive Characteristics of Student PerformanceMrs. Deborah Ann Pedraza, Texas Tech University I am a Systems and Engineering doctoral student at Texas Tech University. I have Bachelor’s degree in the Mathematics from The University of Houston - Victoria, an MBA - The University of Houston - Vic- toria, and a Master’s Degree in Electrical and Computer Engineering - The University of Massachusetts- Amherst. I teach Mathematics, Engineering, and Computer Science at Cuero High School in Cuero, TX and adjunct for The Victoria

Conference Session

Using a Real-Options Analysis Tutorial in Teaching Undergraduate Students

Collection

2016 ASEE Annual Conference & Exposition

Authors

John A. White Jr., University of Arkansas

Tagged Divisions

Engineering Economy

Paper ID #15270Using a Real-Options Analysis Tutorial in Teaching Undergraduate StudentsDr. John A. White Jr., University of Arkansas John A. White, Distinguished Professor of Industrial Engineering and Chancellor Emeritus, received his BSIE degree from the University of Arkansas, his MSIE degree from Virginia Tech, and his PhD from The Ohio State University. He is the recipient of honorary doctorates from Katholieke Universitiet of Leuven in Belgium and George Washington University. Since beginning his teaching career as a tenure-track instructor at Virginia Tech in 1963, he has taught more than 4,000 engineering