Conference Session

Engineering Economy Division Technical Session 1

Collection

2019 ASEE Annual Conference & Exposition

Authors

Priyadarshan A. Manohar, Robert Morris University; Fahad Saad Almutairi, King Fahd Security College

Tagged Divisions

Engineering Economy

about proper executionmay result if the evaluation and measurement processes are not planned well before projectapproval. This challenge does not exist in business because companies evaluate the revenues oftheir projects based on solid financial analysis before proceeding. Professionals in governmentwho must produce a cost/benefit analysis or a business case for their projects come face to facewith a unique challenge unknown to their counterparts in private industry. They ask questions likethese:  How do you write a business case if you are not in a business?  How do you find financial benefits for a government organization besides cost savings?  How do you use financial metrics such as net present value (NPV), internal rate of

Conference Session

Engineering Economy Division Technical Session 1

Collection

2019 ASEE Annual Conference & Exposition

Authors

Raymond L. Smith III, East Carolina University; Henry D. Lester, University of South Alabama

Tagged Divisions

Engineering Economy

they go about their study preparation with use of the cheat-sheet option; (3)what did they think the benefit would be in using a cheat-sheet; and, (4) how do they think otherswill behave relative to academic integrity if a cheat-sheet were not allowed. The followingdetailed questions were posed in the survey. Questions Q1 through Q7 were used to evaluate study preparation given the authorized cheat- sheet option was available. Responses include: (a) always, (b) sometimes, and (c) rarely. 1. I plan adequate study time for each exam. 2. I keep my course materials organized and in a logical order. 3. I study with a group from my class. 4. I prepare potential test questions from themes, central topics, old exams

Conference Session

Engineering Economy Division Technical Session 1

Collection

2019 ASEE Annual Conference & Exposition

Authors

Joseph Wilck, College of William & Mary; Paul C. Lynch, Penn State Erie, The Behrend College

Tagged Divisions

Engineering Economy

studentsindicating that they are much more comfortable knowing how to plan for their Social Securityretirement decision and how to advise others (e.g., parents, friends) on what the best economicaldecision is for them. While we do not know which student comments came from engineers ornon-engineers, due to the number of positive comments it was a welcome project topic across-the-board.The academic motivation for the case study included Ted Eschenbach and Neal Lewis’s paperson the subject. The most recent paper showed that when to collect social security had smalldifferences in NPV but large differences in risk (i.e., standard deviation). By completing Parts 1-3 of the project, the students reproduced many of the calculations of that paper and certainlycame