Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Ana Vila-Parrish, North Carolina State University; Dianne Raubenheimer, Meredith College

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

AC 2012-3821: INTEGRATING PROJECT MANAGEMENT, LEAN-SIXSIGMA, AND ASSESSMENT IN AN INDUSTRIAL ENGINEERING CAP-STONE COURSEDr. Ana Vila-Parrish, North Carolina State University Ana ”Anita” Vila-Parrish is a Teaching Assistant Professor and Director of Undergraduate Programs in the Edward P. Fitts Department of Industrial and Systems Engineering.Dr. Dianne Raubenheimer, Meredith College Page 25.803.1 c American Society for Engineering Education, 2012 Integrating Project Management & Lean-Six Sigma Methodologies in an Industrial Engineering Capstone CourseAbstractThe ability to

Conference Session

Assessment and Accreditation in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Pawel Pawlewski, Poznan University of Technology; Zbigniew J. Pasek, University of Windsor

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

AC 2012-4675: INTEGRATING STUDENT PROJECTS THROUGH THEUSE OF SIMULATION TOOLS ACROSS LOGISTICS ENGINEERING CUR-RICULUMDr. Pawel Pawlewski, Poznan University of Technology Pawel Pawlewski works as an Assistant Professor at the Department of Engineering Management, Poznan University of Technology. He holds a Ph.D. in mechanical engineering, with a specialization in organi- zation of production systems from the Poznan University of Technology. His research interests include organization of manufacturing systems, monitoring of operations management, reengineering and IT ap- plication for logistics, simulation, and modeling of processes.Dr. Zbigniew J. Pasek, University of Windsor Zbigniew J. Pasek is an Associate

Conference Session

Engineering Economics New Frontiers

Collection

2015 ASEE Annual Conference & Exposition

Authors

Paul C. Lynch, Pennsylvania State University, University Park; Cynthia Bober, Penn State University; Joseph Wilck, East Carolina University

Tagged Divisions

Engineering Economy

Education Annual Conference & Exposition. 2. J. Darrell Gibson, M. Patricia Brackin, “Techniques for the Implementation and Administration of Industrial Projects for Engineering Design Courses,” Proceedings of the 1999 American Society for Engineering Education Annual Conference & Exposition. 3. James Noble, “An Approach for Engineering Curriculum Integration in Capstone Design Courses,” Page 26.191.13 International Journal of Engineering Education, 14(3), 197-203, 1998.4. Ana Vila-Parrish, Dianne Raubenheimer, “Integrating Project Management & Lean-Six Sigma Methodologies in an Industrial

Conference Session

Integrating Research

Collection

2012 ASEE Annual Conference & Exposition

Authors

Alison M. Knight, Mayo Clinic; Gillian M. Nicholls, University of Alabama, Huntsville; Paul J. Componation, University of Alabama, Huntsville

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

AC 2012-4700: MEASURING THE EFFECT OF ONLINE HOMEWORKPROCEDURES ON STUDENT EXAM PERFORMANCEAlison M. Knight, Mayo Clinic Alison M. Knight received her bachelor’s degree in Industrial Engineering from Tennessee Technological University. She worked for three years for TranSystems as a simulation analyst. She then received her MSE in Systems Engineering at the University of Alabama in Huntsville. During her graduate studies, she was a teaching assistant and later instructor for undergraduate Engineering Economy courses. She is currently working as a Health Systems Engineering Analyst at Mayo Clinic in Rochester, MN.Dr. Gillian M. Nicholls, University of Alabama, Huntsville Gillian Nicholls is an Assistant Professor of

Conference Session

Engineering Economy Division Technical Session 1

Collection

2018 ASEE Annual Conference & Exposition

Authors

James Burns, Purdue University, West Lafayette; Bob E. White P.E., Western Michigan University; Azim Houshyar, Western Michigan University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

- elling and Simulation, Applied Ergonomics, The International Journal of Production Research, Industrial Management, Simulation, and The Institute of Industrial Engineering Transactions, to name a few. His professional affiliations include ORSA, TIMS, APICS, SME, and IIE. Dr. Houshyar can be reach at houshyar@wmich.edu. c American Society for Engineering Education, 2018 Integrating Ethics in Undergraduate Engineering Economy Courses: An Implementation Case Study and Future DirectionsAbstractThe integration of humanities, social sciences, and writing into the engineering disciplines hasbeen shown to improve critical thinking and creativity in

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

Gene Dixon, East Carolina University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

materials engineering from Auburn University. He has authored several book chapters and articles on follower component of leadership and is active in research on the leadership processes. Page 25.517.1 c American Society for Engineering Education, 2012 Embedding Leadership Topics in the Engineering CurriculumHow leadership is addressed in a quantitative based curriculum has challenged engineeringfaculty interested in leadership for some time. This paper describes an approach to developingleadership topics within a general engineering curricular program. Through the widespread useof student

Conference Session

Integrating Engineering Economy into Curricula

Collection

2014 ASEE Annual Conference & Exposition

Authors

Gene Dixon, East Carolina University; Joseph Wilck IV, East Carolina University

Tagged Divisions

Engineering Economy

Approach for Engineering Curriculum Integration in Capstone Design Courses,” International Journal of Engineering Education, 14(3), 197-203, 1998.6. Ana Vila-Parrish, Dianne Raubenheimer, “Integrating Project Management & Lean-Six Sigma Methodologies in an Industrial Engineering Capstone Course,” Proceedings of the 2012 American Society for Engineering Education Annual Conference & Exposition.7. John Lamancusa, Jens Jorgensen, Jose Zayas-Castro, Julie Ratner, “THE LEARNING FACTORY – A new approach to integrating design and manufacturing into engineering curricula,” Proceedings of the 1995 American Society for Engineering Education Annual Conference & Exposition.8. R.S. Sawhney, S. Maleki, J.H. Wilck, P

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Paul Kauffmann, East Carolina University; Stephanie Sullivan, East Carolina University; Gene Dixon, East Carolina University; B.J. Kim, East Carolina University

Tagged Divisions

Engineering Economy

concepts contained in each are not linked to clearly illustratehow these courses together represent an essential, integrated, and complementary body ofknowledge. This presents a lost opportunity in reinforcing concepts in areas such as projectvaluation, variation in estimates, statistical risk, expected value and similar real world topicswhich are essential in a project engineering workplace. This paper presents a curricular plan toaccomplish integration of key topics in these courses in a focused and effective manner. Itbegins with examining general concepts in engineering curriculum integration. Next it examineskey curricular topics in engineering economics, statistics, and project management courses andmaps specific areas which can be

Conference Session

Technology and Equipment to Improve IE Instruction

Collection

2012 ASEE Annual Conference & Exposition

Authors

Richard A. Pitts Jr., Morgan State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

, Engineering and Math (STEM) courses to solve real-world problems in the areas oftransportation, scheduling, manufacturing, logistics, and many others.With a Course, Curriculum and Lab Improvement (CCLI) grant project sponsored by theNational Science Foundation from 2009 - 2011, an updated Industrial Robotics and AutomatedManufacturing (IRAM) laboratory was developed. Utilizing this newly updated laboratory atMorgan State University (MSU), students are now able to use modern equipment within a set ofcourses specifically designed around the facility. These courses are in the areas of advancedmaterial handling systems, robotics and automation, computer-aided manufacturing, and flexiblemanufacturing systems. The integration of these courses with a hands

Conference Session

Integrating Engineering Economy into Curricula

Collection

2014 ASEE Annual Conference & Exposition

Authors

Joseph Wilck IV, East Carolina University; Paul C. Lynch, The Pennsylvania State University, University Park, PA; Paul J. Kauffmann P.E., East Carolina University

Tagged Divisions

Engineering Economy

initiativesthroughout the country and to the growing technical demand of the country’s workforce.High School Initiatives and Inadequacy of the Common CoreMany states are looking closely at the specific learning outcomes of high school courses and anengineering economics course in college general education integrates well with these efforts.For example, Virginia has a policy for all public high school students to pass a Financial Literacycourse prior to high school graduation33. The topical coverage of this course links directly to acollege course in engineering economics due to an emphasis on decision making with the timevalue of money concept for individual decisions (e.g., obtaining a loan, developing a personalbudget, implications of a simple contract). The

Conference Session

Instructional Design

Collection

2012 ASEE Annual Conference & Exposition

Authors

Naveen Seth, New Community College at CUNY; Donald P. O'Keefe, Farmingdale State College

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

thecontents of separate courses are complementary. In the kind of curriculum being planned at theinstitution of one of the writers, teaching and learning in first-year learning communities willinvolve skills, content and disciplinary courses, all building upon one another.Learning communities in Engineering Economics coursesThere are several ways in which learning communities can be integrated into engineering andengineering technology programs. For example, an Engineering Economics course may bepaired with a Statistics course where both include some integrative assignment(s) applyingstatistical concepts to engineering economics problems; these assignments reinforce learning inboth subjects. The engineering economics course may go on to form the

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2009 Annual Conference & Exposition

Authors

Abhijit Gosavi, Missouri University of Science and Technology

Tagged Divisions

Engineering Economy

prepare students psychologically for thisin the very first week.Finally, supply chain management is now taught in numerous IEundergraduate programs, usually, as a part of the production or operationsplanning course. It is unclear at this stage if revenue management will alsobecome an integral part of our IE curriculum in the future. It could bemore easily incorporated into a course in marketing or finance than intooperations planning. All the indicators show that the service economy islikely to grow in the future, and therefore it is quite possible that revenuemanagement could earn its place in the core of the IE curriculum in thenext 10 years.References[1] P.P. Belobaba. Application of a probabilistic decision model to airline seat

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Denise H. Bauer, University of Idaho, Moscow; Jessica L. Heier Stamm, Kansas State University; Lesley Strawderman, Mississippi State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

systematic engineering design process to conduct undergraduate engineering management capstone projects. Journal of Engineering Education, April, 193-197.4. Howe, S. & Wilbarger, J. (2006). 2005 national survey of engineering capstone design courses. Proceedings of the 2006 American Society of Engineering Education Annual Conference and Exposition.5. McKenzie, L.J., Trevisan, M.S., Davis, D.C., & Beyerlein, S.W. (2004). Capstone design courses and assessment: A national study. Proceedings of the 2004 American Society of Engineering Education Annual Conference and Exposition.6. Noble, J.S. (1998). An approach for engineering curriculum integration in capstone design courses. International Journal of Engineering

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Jane M. Fraser, Colorado State University, Pueblo; Abhijit Gosavi, Missouri University of Science & Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

reading documents and gathering data.The second step, study of alternatives, is an important part of the systems engineering philosophythat is rooted in methods. Most books appear partial to decision analysis (Hazelrigg11) andprobabilistic tools, e.g., probability trees, (Sage and Armstrong22). At least one chapter in eachbook appears to be devoted to this topic. The third step revolves around integrating all systemcomponents and launching the system. The fourth step is testing the performance of the system.The fourth step relies on techniques from operations research, e.g., queuing theory for discrete-event stochastic systems and scoring methods and objective function formulation etc. The finalstep essential captures the principle of continuous

Conference Session

Innovations in the IE Curriculum

Collection

2012 ASEE Annual Conference & Exposition

Authors

Heidi A. Taboada, University of Texas, El Paso; Jose F. Espiritu, University of Texas, El Paso

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

Energy infrastructure will require a considerable expansion of thenation’s human capital, which will only be developed through intense collaboration amongmultiple players. However, the scale and intensity of current energy education efforts in theUnited States remain inadequate to produce the needed technological progress and human capital Page 25.73.2development[3]. This paper introduces the BGREEN (BuildinG a Regional Energy and EducationalNetwork) project. BGREEN is an integrated research and educational project supported byUSDA by a multi-million dollar grant. The project promotes collaboration among differentuniversities, colleges

Conference Session

Assessment and Accreditation in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Maxwell Reid, Auckland University of Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

facilitate the development of moral, ethical and sustainableintegrity, together with an understanding of management issues. Students are made aware ofvarious aspects of management that are important to the practising engineer and how sociallyresponsible management is an integral part of engineering. The programme also provides abase from which students may continue their management education. In these two papers thestudents are encouraged to explore possible alternatives beyond the knowledge andconstraints of the actual situation within their level of competence, as the beginning of a life-long learning process in their engineering careers.The new BE curriculum is designed to interest and challenge undergraduate engineeringstudents, and prepare them

Conference Session

Industrial Engineering Division Tech Session 1: IE-ing a Broader Perspective

Collection

2017 ASEE Annual Conference & Exposition

Authors

Faisal Aqlan, Pennsylvania State University, Erie (Behrend College); Yuan-Han Huang, Pennsylvania State University, Erie (Behrend College); E. George Walters III P.E., Pennsylvania State University, Erie (Behrend College); Osama T. Al Meanazel, The Hashemite University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

an integral part of product design, manufacturing, and use. Today, mostcompanies sell their products in different global markets and this requires consideration ofcustomer needs and ergonomics of users from these different markets. Moreover, productdesigners should consider ergonomics to enhance sustainability and maintainability of products.Recent advancements in computer technology in the last two decades have contributed to thedevelopment of computer simulations for ergonomics. Such simulations are known as DigitalHuman Modeling (DHM) and are used to assess the performance of human operators in theworkplace. DHM can also be integrated with Computer Aided Design (CAD) to evaluate theergonomics of product designs.2. Related LiteratureIn the

Conference Session

Pedagogical Advancements in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Kathryn D. Abel, Stevens Institute of Technology; Anirban Ganguly, Stevens Institute of Technology

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

, therefore making it important to both academicians, as well as, practitioners. EM as aformal degree has been present since the mid 1940s 3 and currently, there are more than 100universities in the US offering an undergraduate and / or graduate program in EM. EM programswere historically embedded within the departments of industrial engineering, depending upon theuniversities 4. However, in order to reflect the gradual shift from manufacturing to turn-keysystems integrators in a global economic environment, many more universities are aligning theirEM programs with their systems engineering program 5.Importance of Analyzing FailuresFailure analysis is the process of collecting and analyzing data to determine the cause of afailure. It relies on

Conference Session

Industrial Engineering Division Tech Session 1: IE-ing a Broader Perspective

Collection

2017 ASEE Annual Conference & Exposition

Authors

Cristina D. Pomales-Garcia, University of Puerto Rico, Mayaguez campus; Christopher Papadopoulos, University of Puerto Rico, Mayaguez campus

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

presentation), an opportunity for workers to participate in the creation ofalternative work methods (student visits to the plantation), as well as improved practices andimprovement of livelihoods (Neet & Neubert, 2011). These are characterized as relevantattributes within the stakeholder’s benefit dimension.In considering this course and project experience as a whole, it is suspected that theEngineering Curriculum can go further to elicit meaningful reflections from students as anintegral part of their entire project experience. Rather than only relying on a post-projectreflective experience, as was the case here, a new model (see Figure 3) that integrates a pre-reflection activity as a means to create a deep and meaningful reflection of the

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

, earning styles, and class attendance as external factors.Scholarly Factors Many universities base college admissions solely on class rank or on high school gradepoint average. According to Crystale Marsh, Michael Vandehey, and George Diekhoff[38]: “standardized [sic] test of academic aptitude do not assess the motivational skills necessary for success (Kerr, Fagley, & Miller, 1998) and fail to provide an ecologically valid assessment of the complex array of skills that are needed in college (Oldfield, 1994); Thompson & Kobrak, 1983),. High school performance fails to predict, with a high degree of accuracy, college success. First, the high school curriculum may not have prepared the student for

Conference Session

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

S. Jimmy Gandhi, Stevens Institute of Technology; Alex Gorod, Visiting Fellow, University of Adelaide

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

currently included course. An example would be to discuss systemic risk concepts as a subsection of a course on risk management or as a section of a project management course. It could be further included as part of a systems integration course or as an introductory course to systems engineering or complex systems.d. The American Society of Engineering Management (ASEM) could consider making systemic risk a topic in the ASEM certification curriculum. Engineering Managers should be tested on the subject through especially identified scenarios/case studies of complex systems with a series of questions on how to manage the system and mitigate the overall risk associated with it.e. Systemic Risk could be included as a topic in the ASEM

Conference Session

Engineering Economics Teaching Tools

Collection

2015 ASEE Annual Conference & Exposition

Authors

Shervin Zoghi, California State University, Fresno

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy

psychomotor) into what’scalled Bloom’s Taxonomy. By understanding the hierarchal structure of this taxonomy, studentshave successfully supplemented these ideologies into their learning patterns. This paper exploressome of the many methods for teaching engineering economics in a way that enablesengagement and long-term retention.It is also the intent of this paper to address the importance of integrating economics into theengineering curricula. Due to globalization and economic complexity, engineers are nowrequired to have an in-depth understanding of the markets and how changes in these marketsaffect their bottom line. These can include a variety of things, such as understanding interestrates required to increase or sustain levels of capital stock

Conference Session

Methods, Cases, and Directions

Collection

2012 ASEE Annual Conference & Exposition

Authors

Joseph C. Hartman, University of Florida

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

common cash flow analysis calculations. However, as this isunlikely in the near future, it is suggested that this type of information be relegated to review orprep sessions for the test. The author runs these types of sessions each semester for studentspreparing for the exam. The argument here is that if students have successfully completed anengineering economy course that has pushed them to analyze the risk(s) of a project, they willfind it easy to learn how to use the factors in a timely manner for an exam.Curriculum ReplacementWith the reduction of coverage of financial mathematics, time in the curriculum can be focusedon tools for making good financial investment decisions, such as cash flow estimation, riskanalysis and multi-attribute

Conference Session

Engineering Economy Division Technical Session 1

Collection

2020 ASEE Virtual Annual Conference Content Access

Authors

Brian Aufderheide, Hampton University; Otsebele E. Nare, Hampton University

Tagged Topics

Diversity

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

25 new courses. He has supervised over 35 Industrial Design Projects. He is a returned Peace Corps Volunteer. He is dedicated in helping his students to succeed.Dr. Otsebele E Nare, Hampton University Otsebele Nare is an Associate Professor of Electrical Engineering at Hampton University, VA. He received his electrical engineering doctorate from Morgan State University, Baltimore, MD, in 2005. His research interests include System Level Synthesis Techniques, Multi-Objective Optimization, Device Modeling and K-16 Integrative STEM education. American c Society for Engineering Education, 2020 Work in Progress: Engineering Economy Taught Across

Conference Session

Assessment and Accreditation in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

David S. Cochran, Southern Methodist University and Meijo University; Makoto Kawada, Meijo University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

Discipline: The Art and Practice of the Learning Organization, Doubleday, 1990.4 Cochran, D. S., “Enterprise Engineering, Creating Sustainable Systems with Collective System Design:Part II,” The Journal of RMS in Systems Engineering, Spring Journal, 2010.5 Ohno, T., Toyota Production System: Beyond Large-Scale Production, Productivity Press, 1988.6 Monden, Y., Toyota Production System: An Integrated Approach to Just-In-Time, CRC Press, Taylorand Francis, 3ed., 2012.7 Cochran, D. S., Duda, J., Linck, J., and Arinez, J., “The Manufacturing System Design Decomposition,”SME Journal of Manufacturing Systems, Vol. 20, No. 6. (2000/2001).8 Hopp, W. and Spearman, M., Factory Physics, McGraw-Hill Higher Education, 2nd, 2000.9 Forrester, J., Principles

Conference Session

Advances in Engineering Economy Pedagogy

Collection

2010 Annual Conference & Exposition

Authors

Emily Evans, University of Arkansas; Heather Nachtmann, University of Arkansas; Kim Needy, University of Arkansas

Tagged Divisions

Engineering Economy

states that the curriculum being taught now is almost identical to thattaught many decades ago. In general, it is believed that engineering economy instruction putsmore emphasis on routine and trivial calculations and less emphasis on the analysis and decisionmaking processes2,3.According to the literature, while the teaching materials of engineering economy has changedvery little over the years, the actual implementation of the topic in the work force has changeddramatically. Smith9 comments on how risk and risk management is vital to the engineeringenvironment, and yet the curriculum in undergraduate classes only skims the surface of thesetopics. Most textbooks acknowledge the presence and an overview of methods for measuringrisk, but many do

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Karen Bursic, University of Pittsburgh

Tagged Divisions

Engineering Economy

, we would like to be ableto require a separate course that directly addresses contemporary problem-solving in a globalsociety. Many of the University’s programs have offerings that might be suitable. However,while the undergraduate faculty is considering this option, with an already cramped curriculum itis a difficult decision. In addition, presenting students with contemporary engineering problemsthat require students to put them in a global, economic, environmental, and/or societal contextmay prove to be a better approach. In this manner students are able to clearly see the relevanceof these issues to their own field of interest. This problem-based learning approach can also beused to address the department’s goal of an integrated

Conference Session

Pedagogical Advancements in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

Mysore Narayanan, Miami University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

collection of Unit Plans that integrate technology. 3. Models of meaningful classroom projects that integrate instruction in developing critical thinking skills provide the learners with an opportunity to enhance their knowledge. 4. Tools and strategies for developing one’s own exemplary technology-supported learning should always receive encouragement from the instructor 5. It is important to learn how project-based units can effectively engage students in meaningful work and promote higher-order thinking. 6. It is necessary to see how questions and ongoing assessment keep project work focused on important learning goals. 7. One needs to gather ideas from a collection of exemplary Unit Plans and design one’s own

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

Joseph Hartman, Lehigh University

Tagged Divisions

Engineering Economy

, these would be integrated into theanalysis, but should be noted at a minimum.In addition to the analysis (or analyses), the student must put together a coherent argument. Thisincludes listing assumptions with justification and tying arguments together. Of course, it mustbe understood that this is a timed exam and the business case may be a bit incomplete.While the above describes an “ideal” solution, it does not overcome the fact that grading theseexams requires judgment and time on the part of an instructor. Grading the exam is similar to Page 11.1247.5grading a project in that rankings are relative. However, the above provides a roadmap

Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

Neal Lewis, University of Bridgeport; Ted Eschenbach, TGE Consulting; Joseph Hartman, University of Florida

Tagged Divisions

Engineering Economy

process by laying out the alternatives in a clear manner. These topics should be taught inthe undergraduate course. Risk management is a necessary part of project funding, and this isappropriate for the undergraduate curriculum. Inclusion as an application of decision trees is alogical and worthwhile application, and we are pleased to see that most authors include thematerial in their texts.Use of options analysis should be reserved for graduate courses. Use of options analysis inmulti-stage project analysis is a fairly limited area, and is still not fully understood (althoughthere is available literature that may allow you to calculate a project value). Where this is taught,the current methods need to be accompanied by the concerns and