Course description
In Six Ways to Perform Economic Evaluation of Projects, you'll learn ...
- Understand the 6 fundamental methods of cost analysis
- Payback Method
- Return on Investment (ROI)
- Total life cycle cost (present value method)
Overview
Credit: 3 PDH
Length: 26 pages
This course addresses cost analysis related to planning and executing projects. While engineers find it necessary to learn the basic accounting and business principles to communicate with accountants, few accountants are willing to learn the engineering details. The basic cost evaluation techniques presented in the course will help engineers to “think like MBAs and act like engineers”.
Installed costs and capital offsets are important economic parameters for evaluation of a proposed investment. The concept of money having a time value is fundamental to understanding any economic or financial analysis. This 3 -hour course provides basic fundamentals of cost evaluation that can be applied to new, retrofit, expansion and modification projects.
The course is intended primarily for managers, engineers, architects, scientists, auditors, campaigners, academics, equipment manufacturers and designers.
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Who should attend?
Certificate of Completion
You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 15 questions. PDH credits are not awarded until the course is completed and quiz is passed.
Training content
This course teaches the following specific knowledge and skills:
- Understand the 6 fundamental methods of cost analysis
- Payback Method
- Return on Investment (ROI)
- Total life cycle cost (present value method)
- Savings/investment ratio (benefit/cost ration method)
- Net present Value (NPV)
- Internal rate of return (IRR)
- Be aware of commonly-used financial terminology and concepts
- Be able to judge and select the right project alternative
Costs
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