Management and Engineering Economy

Course title: Management and Engineering Economy

Code: 3ФЕИТ04Л012

Number of credits (ECTS): 6

Weekly number of classes: 3+2+0+0

Prerequisite for enrollment of the subject:None

Course Goals (acquired competencies): Introduction in the managerial techniques and skills necessary for creating and leading engineering projects and successful business, as well as obtaining knowledge about the engineering economy and economic analyses about criteria for valuation of engineering projects as an investment.

Total available number of classes: 180

Course Syllabus: Historical development and schools of management. Basic principle of management. Contemporary directions in the development of engineering management. Analysis of the American and Japanese management styles. Basic management functions: planning, organizing, staffing, decision-making, controling. Mathematical methods and techniques applied in management: linear programming, network planning (CPM. PERT, PDM). Predictive methods. Methods to support the decision-making process. Leadership, communication, motivation and conflict resolution in engineering projects. Basics of Engineering Economics. Types of interest rates. Definition and calculation of annuity. and cash flows. Depreciation and residual value, Methods for economic evaluation of engineering projects (NPV, BCR, IRR). Iinventory models. Ethics in engineering projects.

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