Here are the latest principles and techniques for the economic evaluation (cost estimating) of technical designs--whether for operations, products, projects, or systems. This reference identifies the need to understand labor, materials, and accounting, and to put those concepts together in the construction of an economic measure. Reflecting the current routine followed by business, the book spends less time on the principles of compund interest equations, and focuses more on the broader matters of estimating cost and time that are crucial for the design, and eventually the time value of money equations. Coverage includes the kinds of information and estimates useful for four categories of design: operation, product, project, and system. Includes many practical formulas, illustrations, and examples drawn from a wide variety of occupations, reflecting current costs and economic conditions.

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