Economic Analysis of Engineering Projects
About This Course
This course empowers engineers to tackle interdisciplinary challenges in planning and managing complex technological systems. With a focus on balancing economic and engineering variables, learners gain essential skills to make data-driven decisions that impact and enhance organizational performance. The curriculum integrates economic analysis techniques and management tools tailored for technology-driven environments. Learners will build a strong foundation in evaluating operational choices through an economic lens, enhancing their strategic thinking and decision-making capabilities. By the end of the course, learners will confidently assess financial implications, tackle industry challenges, and contribute to sustainable, value-driven engineering solutions in today’s competitive, innovation-led landscape.
As this micro-credential course is only offered in the FlexiMasters in Engineering Management programme, learners are required to enrol into the programme and complete all required courses within this programme.
What You'll Learn
• Explain and apply common economic and financial terms (e.g., time value of money, nominal and effective interest rates, rate of return, inflation etc.)
• Calculate key financial matrics (e.g., present and annual worth, rate of return, etc.) to evaluate engineering projects.
• Optimise decision making through techniques like rate of return analysis, benefit and cost analysis, breakeven and payback analysis etc.
• Determine optimal strategies for capital expenditure equipment retention, and financing.
• Evaluate how macro-economic factors like inflation and tax affect project decisions
Entry Requirements
• Working professionals preferably with at least 5 years of work experience in engineering or related fields and aiming for managerial or leadership roles.
• Engineers with technical expertise and aspiring to move into managerial or leadership positions.
• Technical leads/supervisors or engineering managers who wish to formalise and enhance their leadership skills and management knowledge.
• Prior knowledge in engineering principles and basic project work experience will be an advantage, but no formal leadership experience is required.
No pre-requisites are needed to enroll in the individual courses; however, learners without qualifications or working experience in relevant engineering or the related fields may find the course contents challenging.
Note: Shortlisting will be conducted.