Engineering economy (Prentice-Hall international series in industrial and systems engineering)

Engineering Economy deals with the concepts and techniques of analysis useful in evaluating the worth of systems, products, and services in relation to their cost. This text emphasizes that the essential prerequisite of successful engineering application is economic feasibility. Our objective is to help the reader to grasp the significance of the economic aspects of engineering and to become proficient in the evaluation of engineering proposals in terms of worth and cost. The engineering approach to problem solution has advanced and broadened to the extent that success often depends upon the ability to deal with both economic and physical factors. Down through history, the limiting factor has been predominantly physical, but with the development of science and technology, goods and services that may not have utility have become physically possible. Fortunately, engineers can readily extend their inherent ability for analysis to embrace economic factors. To aid them is doing is a primary aim of this book.