Management Principles & Engineering Economics

The course aims to provide fundamental knowledge and exposure to the concepts, theories and practices in the field of management. A study of the functions of management: includes the analysis and evaluation of the planning, organization, staffing, controlling, and directing responsibilities of a manager. This course also provides the concept of project management and its processes.

This course intends to enable students to

• Describe a breadth of knowledge about the activities and responsibilities of a manager
• Discuss skills and abilities in comparing and contrasting theoretical managerial
  concepts
• Develop skills, abilities, habits and attitudes that characterize a high performance
  human being
• Apply business ethics and professionalism
• Develop the projects effectively using project management theories.

On completion of this course students should be able to

• Define and discuss management and leadership
• Classify the differences in skill requirements for the different levels of management
• Discuss the principles of management
• Develop the importance of interpersonal communication
• Describe the different types of decisions
• Apply the decision making process
• Discuss the social responsibility2
• Demonstrate the ethical issues involved in management decision-making
• Apply the project management theory in real world projects.

TextBooks

1. Management , Seventh Edition By Stephen P. Robbins &Mary Coulter
2. A Guide to the Project Management Body of Knowledge, Sixth Edition By ANSI/PMI

References

1. Project Estimating and Cost management By Parviz F. Rad
2. Project Management Accounting By Kevin R. Callahan, Gary S. Stetz, Lynne M. Brooks

The systematic evaluation of the economic benefits and costs of projects involving engineering design and analysis. Economic decision-making in an environment of limited resources and uncertainty. Present economy, the economy of multi-year projects, selection among competing alternatives, sensitivity of outcomes to input parameters, before- and after-tax analysis, replacement economy, inflation, and estimation of future events.

The aims of this course are:

• to explain time-money relationships, cash flow, and effects of inflation.
• to identify identification, formulating and solving engineering problems; and
• to evaluate Present worth (PW) method, annual worth (AW) method, rate of return  method, and incremental rate of return analysis.

Upon the successful completion of this course, students should be able to:

• Apply the basic concepts of engineering economy as part of a decision making process.
• Evaluate investment opportunities and compare between alternatives using single and combined engineering economy factors.
• Perform breakeven analysis under uncertainty conditions.

TextBooks

1. Fundamentals of Engineering Economics, 3rd Edition, Chan S. Park

References

1. Managerial Accounting: Creating Value in a Global Business Environment, 9th Edition, McGraw Hill