Conference Session

Frontiers in Engineering Economy

Collection

2010 Annual Conference & Exposition

Authors

John White, University of Arkansas; Kenneth Case, Oklahoma State University; David Pratt, Oklahoma State University

Tagged Divisions

Engineering Economy

two 6-year terms on the National Science Board. Recipient of numerous awards, his primary professional interests are in economic analysis, facilities planning, and logistics.Kenneth Case, Oklahoma State University Kenneth E. Case, PhD, PE, is Regents Professor Emeritus of Industrial Engineering and Management at Oklahoma State University. Named Outstanding Engineer in Oklahoma in 1987, he has served as Senior Examiner and on the Panel of Judges for the Malcolm Baldrige National Quality Award. Past-President and Fellow of the Institute of Industrial Engineers, Past-President and Fellow of the American Society for Quality, and member of the National Academy of Engineering, he is the

Conference Session

Engineering Economics Teaching Tools

Collection

2015 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach P.E., University of Alaska Anchorage; Neal A Lewis, University of Bridgeport

Tagged Divisions

Engineering Economy

deviation of the project’s PWor IRR.Most investments including retirement plans are made up of ‘portfolios’, a mixture of differentkinds of investments put together in order to balance risk and return. Individuals are increasinglybeing given the responsibility of managing their own retirement portfolios. They need tounderstand the fundamentals of risk and return so that they can effectively manage theirportfolios instead of blindly following the advice of others (who may not have the individual’sbest interest at heart).Many finance courses use a simple two-stock portfolio model to explain the value ofdiversification in achieving better combinations of risk and return. The math would be easy forengineering students, and the lessons learned can be

Conference Session

Engineering Economy Division Technical Session

Collection

2021 ASEE Virtual Annual Conference Content Access

Authors

Kellie Grasman, Missouri University of Science and Technology

Tagged Divisions

Engineering Economy

) convey their recommendation in a professionalmanner. This project allows students to practice these skills in a real life situation.Content:Within the project, student teams analyze real life investment alternatives using a structuredSystematic Economic Analysis Technique (7 steps) as a framework. The full project descriptionis included at the end of the curriculum element summary. The seven step analysis framework isoutlined here:1. Identify the investment alternatives: Students consider at least two alternative options,possibly including the do-nothing alternative as well. Each alternative should be presented indetail so the audience understands each choice.2. Define the planning horizon: The period of time over which to analyze the

Conference Session

Innovative IE Curricula

Collection

2013 ASEE Annual Conference & Exposition

Authors

Masud Salimian, Morgan State University; Yaseen Mahmud, Morgan State University; Avis L. Ransom, Morgan State University School of Engineering

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

of Engineering, she develops projects, plans and implements strategies and develops and documents reports, newsletters and proposals. Page 23.1262.1 c American Society for Engineering Education, 2013 Training Industrial Engineering Students as Energy EngineersIntroductionBuildings consume approximately 40% 1 of all energy in the United States. Most buildingsoperate far less efficiently than their potential. In the U.S., industry alone accounts for about 31%of all energy used 8. There are many benefits to making commercial and industrialmanufacturing plants more efficient. One is 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

todevelop their own product ideas from initial concepts to a business plan for a start-up. Thecourse is offered in English. The second course, offered to 3rd year students, introduces fundamental concepts relatedto industrial process analysis and improvement. Students learn necessary data collection andanalysis techniques (such as, for example, Value Stream Mapping) and also the basics ofprocess simulation using a commercial software package. Student teams work with industrialsponsors and develop competing innovative ideas for process transformation andimprovement. Emphasis is placed on the quality of the student work and final results. Topprojects are offered to present at technical conferences, publish their results in technicaljournals, and

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

industrysponsored. Student teams face challenges when defining objectives for an ambiguous project,controlling scope creep, achieving buy-in, and selling their results to the sponsor. These areskills that are not taught in most engineering curriculums prior to the capstone course(s). Ourobservations are consistent with the observations by other researchers who have studied thedesign process. Wilson et. al 2 highlighted how students in the capstone course setting strugglewith setting milestones and soliciting feedback at the right times. Developing and effectivelycommunicating the project plan and status are critical to the success of the project. As noted byYildirim3, there is a need for understanding the relationships between design activities

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

Engineering Management Applications

Collection

2012 ASEE Annual Conference & Exposition

Authors

Syed Athar Masood, National University of Sciences & Technology, Rawalpindi, Pakistan

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

management. There are also functional gapsbetween working units of the organization. If we superimpose the management gaps ontop of the functional gaps, we find that companies are made up of small operationalislands that refuse to communicate with one another for fear that giving up informationmay strengthen their opponents. The project manager’s responsibility is to get theseislands to communicate cross-functionally toward common goals and objectives5 . Page 25.184.4 Figure-1 An Overview of Management and Functional Gaps5Researchers have identified failures of projects in the 1980s as quantitative, mainly dueto: Ineffective planning

Conference Session

Innovative IE Course Content

Collection

2013 ASEE Annual Conference & Exposition

Authors

Douglas H Timmer, University of Texas, Pan American; Miguel Gonzalez, University of Texas, Pan American

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Bloom’s taxonomy6 suchas knowledge, comprehension and application. But this mode of instruction is less likely toemphasize the higher-order cognitive skills of analysis, synthesis and evaluation. In this learningmodule that teaches gauge R&R, students must design a sampling plan for a gauge R&R studythat involves different measuring devices with different characteristics, conduct and evaluatemultiple gauge R&R studies, and recommend a measuring device based upon the analysis of thegauge R&R studies.The remainder of this paper will present the Mouse Factory learning system, the gauge R&R Page 23.1144.2project, results from the

Conference Session

Integrating Engineering Economy into Curricula

Collection

2014 ASEE Annual Conference & Exposition

Authors

Heath J. LeBlanc, Ohio Northern University; Bryan O'Neil Boulanger, Ohio Northern University

Tagged Divisions

Engineering Economy

projectmanagement and engineering economy as modules within a three-credit course offered on theprocess of design. All courses on engineering economy and project management are offered onlyto senior-level students in the fall semester.The initial discussion brought together the Dean of our college with the faculty representativefrom each department responsible for teaching engineering economy and/or project management.The group expressed a desire to re-evaluate the way engineering economy and projectmanagement content is covered within each department and across the college. With a growingenrollment across the college, the discussion focused mainly on long-term planning,brainstorming ways to 1) maintain course content, 2) make faculty resources available

Conference Session

Technology and Equipment to Improve IE Instruction

Collection

2012 ASEE Annual Conference & Exposition

Authors

Douglas H. Timmer, University of Texas, Pan American; Miguel Gonzalez, University of Texas, Pan American; Connie M. Borror, Arizona State University, West; Douglas C. Montgomery, Arizona State University

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

Bloom’s Taxonomy. The current pedagogy removes students from applying higherorder cognitive skills. By using the Mouse Factory, students must select the most appropriateimprovement project to undertake, design a sampling plan, implement a control chart andevaluate the effectiveness of the implement control chart. Assessment of student behavior andattitudes will be discussed and evaluated.IntroductionThe American Society for Engineering Management (ASEM)1 defines engineering managementas “the art and science of planning, organizing, allocating resources, and directing andcontrolling activities which have a technical component.” Quality-related activities are widelyaccepted as an important field of engineering management and industrial engineering

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

began considering the university’s approach to LID, itbecame important to recognize requirements of accrediting bodies and the need to understand theimplications, or rather the potential for use of the framework, in achieving accreditation goalsrelative to continuous improvement plans. Step 1 of this process was to address where the stagesand development areas meshed with accreditation outcomes. This mesh was important as facultyresources are limited and there was, and still is, a strategic need to limit additional encumbrancesupon otherwise stretched faculty resources. The state is suffering significantly from the currenteconomic environment and this is reflected in decreasing funding for all ECU academic units.The department initiated an

Conference Session

Technology and Equipment to Improve IE Instruction

Collection

2012 ASEE Annual Conference & Exposition

Authors

Leonardo Rivera, Universidad Icesi; Andrés López, Universidad Icesi; Andrés Calderón, Universidad Icesi

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

activities, plans and projects to turn the Strategic Intent into reality.Operations professionals will need to provide company leaders with a clear picture of thecompany’s capabilities in terms of technologies and their innovations. They will need to findchallenges that serve the deployment of the corporate strategies in ways the operation’semployees find interesting and engaging. They will explore new areas of operation andknowledge that take advantage of teamwork and shared technical expertise. They have alsoknowledge of the rhythms and cycles of technological change, which they can apply to decisionsrelated to product innovation.One of the additional resources employed in the class is the analysis and discussion of a videorelated to 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

are shown below b in Tabble 1, reprodduced from thhe Bureau oofLabor Staatistics.Table 1 Page 25.800.5 urse schedulling softwaree, MS Projecct is used to expose the cclass to project managemIn the cou mentmethods such as Gan ntt Charts an nd Critical Paath Method ((CPM). Thee “Commerccial ConstrucctionProject Plan” P is a tem mplate availaable on the website w that iincludes the sequenced aactivities

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

. This includes a demonstration of the ability to comprehend and apply a codified body of knowledge at the forefront of the practicing community. 2. 25-30 credits of capstone projects in which they undertake research, rather than investigative projects. 3. 5-15 credits in which a range of contextual skills include for example, working with other disciplines, ethical reasoning, impact of engineering on the community and a possible component based in industry1.To rationalise and introduce new papers, the offering of management papers was reviewed.AUT has for some time included engineering planning, ethics and sustainability in itsprogrammes. However the decision was made in 2011 to review the management papers inthe

Conference Session

Curricula Innovations in Engineering Economics

Collection

2015 ASEE Annual Conference & Exposition

Authors

Gloria Margarita Fragoso-Diaz, Tarleton State University; Billy Gray, Tarleton State University; Erick Jones, University of Texas, Arlington

Tagged Divisions

Engineering Economy

in table 2supports the previous statement. With this in mind, the next step would be to evaluate theassignments that the students worked to compare against their survey responses as is planned infuture work.The CaseA simulation for a mass casualty event caused by a tornado hitting the community was plannedand executed by the Nursing department at TSU. The initial goal was for the Nursing departmentto provide a simulated experience in mass casualty treatments for their students. As the Nursingstaff proceeded to plan for the event they came to the point where they asked for help from otherareas to support their activities. Faculty and students from the Engineering Technologydepartment participated in the simulation that was run in real time

Conference Session

Effective Tools for Teaching Engineering Economy

Collection

2007 Annual Conference & Exposition

Authors

Phil Rosenkrantz, California State Polytechnic University-Pomona

Tagged Divisions

Engineering Economy

and student outcomes. Also of interest wasthe degree to which various learning tools are used and their relative use based on learningstyles. The ultimate goal was continuous improvement with plans to share findings of interest tothe engineering economy and hybrid on-line class communities. Another desire was to be able torecommend learning tool strategies based on actual student experience.An initial study was conducted using data collected Spring 2002, Fall 2002, and Winter 2003.Spring 2002 was taught using the traditional face-to-face format. Fall 2002 was a transitionquarter, and Winter 2003 was taught in a hybrid on-line format. Throughout the paper this isreferred to as the 2003 study period8. Subsequently, data was collected for nine

Conference Session

Effective Tools for Teaching Engineering Economy

Collection

2007 Annual Conference & Exposition

Authors

Kailash Bafna, Western Michigan University; Betsy Aller, Western Michigan University

Tagged Divisions

Engineering Economy

exams and solve even complexproblems using Excel only. This approach should prove to be valuable to the students when theyenter the working world, where finding textbooks and business calculators are an exception forthe engineer, but having computers with Excel or any other spreadsheet software is commonplace. With an eye toward the needs of a changing student population, presentation and deliveryof course materials have also been redesigned to enhance interest and learning, and to makecourse materials more accessible than previously possible. This paper discusses the need forchange in the teaching of engineering economy, specific technological and pedagogical methodsused, the quantitative and qualitative testing and results of changes, plans

Conference Session

Engineering Economy Division Technical Session 3

Collection

2017 ASEE Annual Conference & Exposition

Authors

Ted Eschenbach, TGE Consulting; Jerome P. Lavelle, North Carolina State University; Neal A Lewis, University of New Haven

Tagged Divisions

Engineering Economy

chapters ranged from the basics of tabulated factors through load factors,replacement analysis, and capacity planning to the type of enterprise, financing, forecasting,extreme conditions, and social implications. Its coverage of the human element is businessfocused.Another important text was Woods and DeGarmo (1942) which has evolved into today’s text byWilliam Sullivan et al. The text’s topical coverage was more limited than Grant’s but with moreexplanation—and still with more advanced topics than most of today’s texts. H.G. Thuesen(1950) added a functional system for interest factors along with the “given x find y” languagethat is still used today. Early editions of both texts were focused on topics and examples forbusinesses and the public

Conference Session

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

Collection

2017 ASEE Annual Conference & Exposition

Authors

Susan O. Schall, SOS Consulting, LLC

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering

Paper ID #20279Engineeering the Accreditation ProcessDr. Susan O. Schall, SOS Consulting, LLC Susan O. Schall is President of SOS Consulting, LLC. Susan has over 20 years experience delivering improved performance using engineering, statistical and business process improvement methodologies, including Lean Six Sigma, team-based problem-solving, and strategic planning. Clients include higher education institutions and non-profits as well as organizations in the chemical, food, automotive,industrial supply and printing industries. Prior to consulting, Susan held a variety of process improvement and leadership roles at

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

andfinancial statements if they choose to complete a minor in business/ liberal arts. Students wouldhave limited exposure to these topics if they completed an engineering entrepreneurship minor.All of the industrial engineering students at Penn State must complete either macroeconomics ormicroeconomics as part of their general education course work in their freshman or sophomoreyear. Page 26.191.2Simply adding additional lecture material in the engineering economy course to cover the linkbetween engineering economic decisions and business planning, financial statements, financialaccounting, and stock value was only one part of addressing the needs of

Conference Session

Pedagogical Advancements in Engineering Management

Collection

2012 ASEE Annual Conference & Exposition

Authors

S. Jimmy Gandhi, Stevens Institute of Technology; Brian Sauser, Stevens Institute of Technology; Brian E. White, Complexity Are Us - Systems Engineering Strategies; Alex Gorod, Visiting Fellow, University of Adelaide; Vernon Ireland, University of Adelaide

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

categories, e.g., Program Management (primarily Planning), (narrow-sense,traditional, or conventional Systems Engineering, as opposed to CSE), and Change Management.Under Planning, there are many possible nuances, and those that are the most relevant in the casestudy should be given some prominence. For example, one must plan for Contingencies and howinformation will be management, especially regarding the Sharing of Information and Infor-mation Security. Attention must be allocated to an overall guiding Strategy and the expenditureof Resources, to include classically, Staffing, particularly contributing Roles, and the Budgetwhich often is revised based upon continually incremental funding. Compared to conventionalSE, in CSE one should strive to

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

-knownoperations-research principles? The answer to that question has to be in thenegative because much of what is taught in operations research in IE focuseson reduction of costs. Revenue management for the most part looks at therevenue side of the equation, and uses techniques that are significantlydifferent than those taught in any of the typical IE courses, such asproduction planning, facilities designing, and quality control. There are, inmy opinion, other good reasons to teach this course. First, a vast majorityof personnel who work for airline and cruise-line firms in their revenue-management departments are trained in IE departments and have IE degrees.Second, revenue management is not just another buzz word. For instance

Conference Session

Engineering Economics New Frontiers

Collection

2015 ASEE Annual Conference & Exposition

Authors

Oscar M. Bonilla, Baruch College of the City University of New York; Donald N. Merino P.E., Stevens Institute of Technology (SES)

Tagged Divisions

Engineering Economy

from Los Andes University in Colombia, and a master’s degree and Ph.D in Engineering Management from Stevens Institute of Technology in Hoboken, NJ.Dr. Donald N. Merino P.E., Stevens Institute of Technology (School of Engineering and Science) Donald N. Merino, Ph.D., P.E. Alexander Crombie Humphreys Professor of Economics of Engineering Emeritus Donald N. Merino retired as a tenured full professor and as the Alexander Crombie Humphreys Chaired Professor of Economics of Engineering at Stevens Institute of Technology. He taught Engi- neering Economy, Financial Management, Decision Analysis, Total Quality Management, and Strategic Planning. He is Founder Emeritus of the undergraduate Bachelor of Engineering in Engineering

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

diffusion,hazardous waste removal) could be executed and simplified using various robots. Even todayrobots are used with assisting humans with common everyday tasks such as performing generaloffice work, doing the laundry, or retrieving a newspaper. However, none of these roboticactions are possible without the use of a computer to execute and control the actions and tasks.Since robots are controlled by computers, they can be integrated and connected to othercomputer systems to perform computer-integrated manufacturing (CIM) activities. Therefore,CIM is the pervasive use of computer systems to design the products, plan the production,control the operations, and perform the various information processing functions needed in amanufacturing firm2

Conference Session

Innovations in Teaching Engineering Economy

Collection

2014 ASEE Annual Conference & Exposition

Authors

Paul J. Kauffmann P.E., East Carolina University; Joseph Wilck IV, East Carolina University

Tagged Divisions

Engineering Economy

students understood the concepts-.  Attend one of two weekly whiteboard conference sessions which lasted approximately 45 minutes. These sessions with the instructor covered the topics completed in the previous week’s chapter and previewed the coming chapter, using the Saba Meeting conferencing system. These sessions were held from 5-6PM on Monday and Wednesday and were primarily designed to answer questions and emphasize key concepts.Table 1 summarizes how we planned for the course format to mirror best practices. The gradingrubric for the course is summarized in Table 2. In addition to the standard engineeringeconomics topics, students wrote two business memos on engineering economics problems

Conference Session

Instructional Design

Collection

2012 ASEE Annual Conference & Exposition

Authors

John H. Ristroph, University of Louisiana, Lafayette

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

environment, new hires who can maintain and improve profits without a long delay, individuals who can continue learning and adapt to changes, and technically competent persons who can progress into management.Employers sometimes focus on one of these needs more than another, depending upon theircurrent problems, but the foregoing issues seem to be recurrent themes. However, the relativeimportance of these and other needs is not documented on a systematic basis. How can this bedone?The ASEE includes industrial members and also can interface with other organizations to obtainthis information at a level suitable for academic planning. One alternative is to perform aperiodic survey. This would allow needs to be tracked over time with

Conference Session

Innovation in Teaching Engineering Economics

Collection

2006 Annual Conference & Exposition

Authors

J. Cunha, University of Alberta

Tagged Divisions

Engineering Economy

governmentregulations make any long-term project extremely risky.Based on the abovementioned factors, a graduate course was designed and implemented aimingto prepare the students to deal with the main economic issues and challenges faced by the oilindustry. Besides the basics on engineering economics, the course covers advanced materialrelated to budgeting, economic decision tools, scheduling and corporate planning, Monte Carlosimulation and risk analysis for oil industry projects. Economic analysis of operations,production forecasts and its associated costs and expected profits are also studied.Furthermore, besides the theoretical topics covered, the students are also required to develop aproject where actual challenges from the oil industry are analyzed

Conference Session

Instructional Design

Collection

2012 ASEE Annual Conference & Exposition

Authors

K.J. Rogers, University of Texas, Arlington; Melanie L. Sattler, University of Texas, Arlington; Andrea M. Graham, University of Texas, Arlington; Stephen P. Mattingly, University of Texas, Arlington

Tagged Divisions

Engineering Economy, Engineering Management, Industrial Engineering, Systems Engineering

students presenting the module wereguest instructors in the engineering economics classes. This meant that the instructors typicallydid not assign the module homework problems or use the module assessment questions in theirexams. If the engineering economics course instructor were implementing the module, andassigning associated homework problems, student confidence would presumably increase.Moreover, we plan to modify the module to focus on micro-economic objectives, thus coveringfewer objectives but covering them more effectively.In addition, a pre-test and post-test were administered for 2 semesters in the industrialengineering course, to assess the degree to which module objectives were achieved. The mean ofthe post-test scores exceeded that

Conference Session

Engineering Economy Division Technical Session

Collection

2013 ASEE Annual Conference & Exposition

Authors

Joseph Hubert Wilck IV, East Carolina University; Paul J. Kauffmann P.E., East Carolina University

Tagged Divisions

Engineering Economy

fullyonline course13.Research Study Motivation and FocusThe origin of our study is based in a solidly pragmatic perspective. Similar to one of the keymotivations noted by the Peercy and Cramer11, our engineering program must explore costeffective ways to increase course availability from several perspectives:  Although many students are able to take courses in the semesters planned when multiple sections are available, there is also a significant number who are off schedule and need “trailing” sections. Unfortunately, timing of face to face sections may conflict with other needed courses and online versions offer scheduling flexibility which is impossible for traditional sections.  Faculty resources trail the