Chapter 24. Using Your Judgment

  1. Richard Hill and
  2. George Solt

Published Online: 30 AUG 2010

DOI: 10.1002/9780470768570.ch24

Engineering Money: Financial Fundamentals for Engineers

Engineering Money: Financial Fundamentals for Engineers

How to Cite

Hill, R. and Solt, G. (2010) Using Your Judgment, in Engineering Money: Financial Fundamentals for Engineers, John Wiley & Sons, Inc., Hoboken, NJ, USA. doi: 10.1002/9780470768570.ch24

Publication History

  1. Published Online: 30 AUG 2010
  2. Published Print: 1 SEP 2010

ISBN Information

Print ISBN: 9780470546017

Online ISBN: 9780470768570

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Keywords:

  • using your judgment - calculating operating costs, it's important to define boundaries around your calculations;
  • optimization calculations, based on capital and operating costs - being misleading, looked at critically and presented in such a way that no one is misled;
  • utilization and reliability, vital to engineering design - but not often specified

Summary

This chapter contains sections titled:

  • Choices

  • Life-Cycle Cost

  • Environmental Costs

  • Optimization

  • Common Engineering Example

  • Curse of Tom the Computer

  • Is it Measurable?

  • Utilization

  • Reliability

  • Summary