9780131421271

This popular book supplies readers with the latest principles and techniques for the evaluation of engineering design. The emphasis is on analysis and estimating. Included in this new edition is a chapter that introduces principles that deal with bringing inventions to the marketplace. It analyzes labor, material, accounting, and forecasting; then the theme of estimating is developed, with a study of methods, operations, and products. A versatile and extremely usable book, it's the perfect resource for engineers, managers, and entrepreneurs.

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Preface	p. xv
Importance	p. 1
Engineering and Design	p. 1
Economic Evaluation	p. 7
Who Uses Economic Evaluation?	p. 8
Reasons for Economic Evaluation	p. 9
Strategies for the Enterprise	p. 10
Traditional Business	p. 13
High-Tech Business	p. 13
Information	p. 15
Domestic and International Business	p. 16
International System of Units	p. 19
A Look at the Book	p. 21
Summary	p. 23
Questions for Discussion	p. 24
Problems	p. 24
Challenge Problems	p. 26
Practical Application	p. 27
Case Study: Professor Jairo Munoz	p. 28
Labor Analysis	p. 29
Background	p. 29
The Mythical Man-Hour	p. 36
Time	p. 36
Ergonomics	p. 37
Fundamentals of Time Study	p. 37
Fundamentals of Work Sampling	p. 46
Labor-Hour Reports	p. 52
Other Methods for Determining Time	p. 54
Wage and Fringe Rates	p. 57
Wage-Only Method	p. 59
Gross Hourly Cost	p. 60
Joint Labor Cost (Optional)	p. 64
Learning	p. 66
Summary	p. 67
Questions for Discussion	p. 67
Problems	p. 68
Challenge Problems	p. 74
Practical Application	p. 75
Case Study: The Endicott Iron Foundry	p. 76
Material Analysis	p. 77
Background	p. 77
Material	p. 80
Shape	p. 83
Cost	p. 92
Material Cost Policies	p. 93
Specification	p. 93
Policies for Evaluating Commodity Materials	p. 96
Policies for Evaluating Contractual Materials	p. 96
Policies for Evaluating Material from Inventory	p. 97
Joint Material Cost (Optional)	p. 103
Summary	p. 108
Questions for Discussion	p. 109
Problems	p. 110
Challenge Problems	p. 116
Practical Application	p. 121
Case Study: Design for Runner System	p. 121
Accounting Analysis	p. 123
Business Transactions	p. 124
Conventions	p. 125
Chart of Accounts	p. 129
Structure of Accounts	p. 131
Understanding the Balance-Sheet Statement	p. 135
Understanding the Profit-and-Loss Statement	p. 136
Depreciation	p. 138
Background	p. 139
Purpose of Depreciation	p. 140
Property Classification for Depreciation Methods	p. 140
Methods of Calculating Annual Depreciation Amount	p. 141
Budgeting	p. 149
Types of Budgets and Relating Cost Accounts	p. 149
Budgets for Overhead Calculation	p. 151
Overhead	p. 154
Importance	p. 155
Traditional Methods	p. 155
Allocation Methods	p. 156
Methods of Direct Labor Hours and Dollars	p. 158
Productive Hour Cost Rate Principles	p. 160
Activity-Based Costing Principles	p. 163
Job and Process Accounting and Variance Procedures (Optional)	p. 164
Summary	p. 169
Questions for Discussion	p. 169
Problems	p. 170
Challenge Problems	p. 177
Practical Application	p. 180
Case Study: Machine Shop	p. 180
Forecasting	p. 185
Graphic Analysis of Facts	p. 185
Least-Squares and Regression (Optional)	p. 193
Least-Squares	p. 193
Confidence Limits for Average Values and Prediction Limits for Individual Values	p. 196
Curvilinear Regression and Transformation	p. 201
Correlation	p. 205
Multiple Linear Regression	p. 207
Time-Series Models (Optional)	p. 210
Cost Indexes	p. 215
Calculation, Interpretation, and Unintended Consequences	p. 221
Summary	p. 223
Questions for Discussion	p. 223
Problems	p. 224
Challenge Problems	p. 232
Practical Application	p. 235
Case Study: Forecasting Production Quantity and Budget Requirements for a Gas Engine	p. 235
Estimating Methods	p. 239
Estimating for the Enterprise	p. 239
Universal Methods	p. 242
Opinion	p. 242
Conference	p. 242
Comparison	p. 243
Unit	p. 245
Operation Methods	p. 247
Cost- and Time-Estimating Relationships	p. 247
Performance Time Data Algorithm	p. 249
Product Methods	p. 256
Learning	p. 256
Project Methods	p. 262
Power-Law-and-Sizing CERs	p. 262
Other CERs (Optional)	p. 264
Factor Method	p. 266
Advanced Approaches (Optional)	p. 273
Expected Value	p. 273
Range	p. 276
Percentile	p. 279
Monte Carlo Simulation	p. 281
Single-Value or Probability-Distribution Comparisons?	p. 284
Summary	p. 285
Questions for Discussion	p. 286
Problems	p. 287
Challenge Problems	p. 293
Practical Application	p. 296
Case Study: Industrial Process Plant Project Cost	p. 296
Operation Estimating	p. 297
Background	p. 298
Manufacturing: What It Is, What It Does, and What It Is Not	p. 300
Classic Operations Analysis (Option 1)	p. 304
Contemporary Operations Analysis (Option 2)	p. 312
Pinion Operation 10	p. 320
Length of Cut Calculation	p. 321
Pinion Operation 20	p. 323
Pinion Operation 30	p. 324
Pinion Operation 40	p. 327
Tool Cost	p. 329
Operation Cost	p. 334
Batch Manufacturing	p. 334
Flow-Line Manufacturing (Optional)	p. 335
Summary	p. 340
Questions for Discussion	p. 340
Problems	p. 341
Challenge Problems	p. 345
Practical Application	p. 349
Case Study: Estimating a Stainless-Steel Part	p. 349
Product Estimating	p. 351
Background	p. 351
Estimating Engineering Costs	p. 356
Information Required for Product Estimating	p. 358
Bill of Material (BOM)	p. 359
The Product Estimate	p. 361
Productive Hour Cost Model	p. 362
Activity-Based Costing Model (Optional)	p. 365
Learning Model (Optional)	p. 368
Extensions for Learning Model (Optional)	p. 371
Follow-On Production	p. 371
Engineering Change Order	p. 374
Break-Even Analysis	p. 377
Pricing Principles	p. 378
Opinion, Conference, and Comparison	p. 380
Markup on Cost	p. 380
Contribution	p. 382
Price-Estimating Relationships	p. 382
Basic Contract Types (Optional)	p. 384
Fixed-Price Arrangements	p. 385
Cost-Reimbursable Arrangements	p. 386
Benchmarking and Competitive Analysis	p. 387
Trends in Product Cost Estimating (Optional)	p. 394
Designing, Estimating, and Producing in a Global Economy	p. 394
Summary	p. 395
Questions for Discussion	p. 396
Problems	p. 397
Challenge Problems	p. 402
Practical Application	p. 405
Case Study: Unijunction Electronic Metronome	p. 406
Cost Analysis	p. 409
First Principles for Tradeoff Studies	p. 409
Cash Flow	p. 413
Taxation Effects on Cash Flow	p. 414
Inflation or Deflation Effects on Cash Flow	p. 416
Break-Even Models	p. 420
Linear Cost Case	p. 422
Semifixed Cost Case (Optional)	p. 426
Nonlinear Cost Case	p. 428
Life Cycle Cost (Optional)	p. 438
Summary	p. 444
Questions for Discussion	p. 445
Problems	p. 445
Challenge Problems	p. 452
Practical Application	p. 454
Case Study: Optimal Injection-Molding Tool Cost	p. 454
Engineering Economy	p. 457
Importance	p. 457
Average Annual Rate-of-Return Methods	p. 459
Payback-Period Method	p. 460
Time-Value-of-Money Methods	p. 462
Net-Present-Worth Method	p. 464
Net-Future-Worth Method	p. 465
Net-Equivalent-Annual-Worth Method	p. 465
Rate-of-Return Method	p. 466
Comparison of Methods	p. 468
Standard Approaches to Engineering-Economy Methods	p. 469
Advanced Applications (Optional)	p. 471
Contexts of "Interest" in Engineering Economy	p. 471
Minimum Attractive Rate of Return	p. 474
Comparison of Alternatives	p. 474
Replacement	p. 479
Taxation Effects of Engineering Projects	p. 484
Summary	p. 489
Questions for Discussion	p. 490
Problems	p. 490
Challenge Problems	p. 499
Practical Application	p. 500
Case Study: Seasonal Production	p. 500
The Enterprise, Entrepreneurship, and Imaginamachina	p. 503
The Enterprise	p. 504
Entrepreneurship	p. 505
Inventors and Innovators	p. 506
Designing for Profit	p. 508
Designing for Manufacture	p. 511
Self-Manufacture or Purchase?	p. 513
Enterprise Planning	p. 516
Assessment and Due Diligence	p. 522
Financing and Enterprise Funding (Optional)	p. 523
Raising Money	p. 523
Stock	p. 524
Debt	p. 527
Bonds	p. 528
Alliances	p. 532
Offering	p. 533
Legal Reminders (Optional)	p. 534
Ethics and Engineering	p. 535
Summary	p. 536
Questions for Discussion	p. 536
Problems	p. 537
Challenge Problems	p. 541
Practical Application	p. 545
Case Study: Round Plate Inc.	p. 545
Values of the Standard Normal Distribution Function	p. 549
Values of the Student t Distribution	p. 550
10% Interest Factors for Annual Compounding Interest	p. 551
20% Interest Factors for Annual Compounding Interest	p. 552
Values of Learning Theory	p. 553
Selected Answers	p. 555
Bibliography	p. 561
Index	p. 563
Table of Contents provided by Ingram. All Rights Reserved.

What is included with this book?

The New copy of this book will include any supplemental materials advertised. Please check the title of the book to determine if it should include any access cards, study guides, lab manuals, CDs, etc.

The Used, Rental and eBook copies of this book are not guaranteed to include any supplemental materials. Typically, only the book itself is included. This is true even if the title states it includes any access cards, study guides, lab manuals, CDs, etc.

This first edition ofCost Analysis and Estimating for Engineering and Managementprovides the latest principles and techniques for the evaluation of engineering design. The theme for the book begins with four chapters devoted to an analysis of labor, material, accounting, and forecasting. In the next four chapters estimating is developed, and methods, operations, and product chapters are given. With those chapters understood, attention moves to Chapters 9 and 10, "Cost Analysis and Engineering Economy." Chapter 11, "The Enterprise, Entrepreneurship, and Imaginamachina," concludes the book, and it introduces principles that deal with bringing inventions to the marketplace. Wise and calculated risk taking for the entrepreneur (read engineer and manager) are important to the broader understanding of engineering for students. The organization of this book develops these principles in a systematic way. With increasing importance of design over rote skills in contemporary engineering courses, this book can be used for a variety of teaching situations: for lecture only, for lecture with a laboratory menu, or for professional mentoring with business, and developed field trips. Courses that connect to on-line live or delayed video instruction can use this book, as the authors have personal experience with these delivery modes. Furthermore, lifelong learning programs for the professional in either formal or informal settings can use the book. Academic requirements for this book/course may vary, and we believe that the book is suitable for a number of teaching approaches. The book has been written to appeal to engineering/management/technology settings. The student needs a mathematical maturity of algebra and introductory calculus. Typically, this book is used in the later college periods, and sometimes it coincides with the capstone course or other summary courses that occur in the final semesters. It is also suitable for graduate level courses in engineering/technology and management. The instructor will notice Internet requirements that search for information and apply it in practical context. We provide Internet addresses for numerous assignments. (Regrettably, these addresses may change from time to time. Fortunately, many students are adept at finding their own way around the Internet.) In the interactive environment of teaching, this book is a part of modern courseware. Word processing and spreadsheet skills are assumed, and some CAD ability is always helpful. The student must have access to a computer, and system requirements would be typical of more advanced personal or college Pentium computers. Various academic levels, either undergraduate or graduate, and backgrounds are appropriate and the instructor will find that this book is fitting for a variety of teaching styles. The authors have attempted to involve the instructor in the leadership of many exercises, calling on you, the instructor, to localize the assignments to your needs. The book has more material than can be covered in one semester or quarter, and thus chapters can be chosen to meet the objectives of each class. Chapter order can be adjusted. For example, if the students already have an understanding of statistics, then Chapter 5 material can be excluded. Other sections can be dropped depending on student preparation and course objectives. Now and then the term "optional" is used with sectional material, and the instructor can either appropriately overlook that section or include it for enriching purposes. The instructor will find that the book is versatile. This book has a range of difficulty for Questions for Discussion, Problems, Challenge Problems, Practical Applications, and Case Studies. Throughout the book, the authors have attempted to give the instructor the opportunity for outcomes-evaluation of student work with these many exercises. There are 128 Questions for Discussion in the 11 chapters. They are qu

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Cost Analysis and Estimating for Engineering and Management

Cost Analysis and Estimating for Engineering and Management

0131421271

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