Wilkes University—Division of Engineering and Physics
EGM320: Engineering Project Analysis
Spring 2006
Instructor: Vijay K. Arora, Ph. D., Professor of Electrical Engineering and Engineering Management and IEEE-EDS Distinguished Lecturer
Contact Info: SLC 237, Phone 570-408-4813, Fax 570-408-7881, E-Mail varora@wilkes.edu
Lectures: MW 6:00-7:15 PM, SLC 380
Office Hours: MW 2:00-4:30 PM or by appointment
Textbook: William J. Sullivan, Elin M. Wicks, and James T. Luxhoj: Engineering Economy, Thirteenth Edition, Prentice Hall, 2006.
References: Jay Heizer and Barry Render: Operations Management, Eighth Edition, Prentice Hall, 2005.
Leland Blank and Anthony Tarquin: Engineering Economy, Sixth Edition, McGraw-Hill, New York, 2005.
EGM 320. ENGINEERING PROJECT ANALYSIS THREE CREDITS: Economic analysis of evaluating cash flows over time. Depreciations: techniques and strategies. Replacement analysis, break-even analysis, and benefit/cost ratio evaluation. Evaluating a single project: deterministic criteria and techniques. Multiple projects and constraints. Risk analysis and uncertainty. Models of project selection. Project selection using capital asset pricing theory. Prerequisite: Junior engineering standing.
OBJECTIVES
At the end of the course, you should be able to:
* The letters in parenthesis refer to ABET’s a-k ability attribute outcomes given at the end of course outline.
COURSE OUTCOMES AND ASSESSMENT
The Accreditation Board for Engineering and Technology (ABET) accredits Wilkes engineering programs. ABET has identified general ability outcomes in Engineering Criteria 2000 (EC2000) for all graduating engineers, regardless of their discipline or university. These a-k attributes, as these are popularly known, are listed in the Global Attribute Outcomes Assessment Form attached. We need to assess that the learning objectives are in concert with Wilkes University mission, the objectives of the engineering programs, and professional-practice attributes (including those required to be business savvy) contained in EC2000. The difference between engineering and business is that engineering executes and business reports. Unless we are good in communicating the value of engineering and science to those making decisions, we will not succeed in our professional and personal life. You will assess your ability attributes as a result of taking this course.
Another instrument that will be used is the Student Response Survey (SRS) that will measure the scholarship of learning and teaching. The primary goal of this survey is to assure that the students are able to perform well in the profession beyond college.
Both of these surveys, along with the team evaluation, will be conducted at the end of semester.
ATTENDANCE POLICY
Realizing that student success is largely dependent on attending classes, it is imperative that you attend every class. On certain occasions, circumstances may arise such as sickness, family or child-care issues, hospitalization, and court appearances. In all these unanticipated cases, please see the Dean of Student Affairs in Conyngham Hall with the proof of your absence. After verifying your valid cause, the office will issue a slip (note) to the instructor(s). For unexcused absences and those not following the procedures, you will automatically receive an F (0.0) if you are absent for more than three classes. Snow days are considered an act of God and the university will issue the call to cancel classes or run on a compressed schedule.
GRADING PROCEDURE
The grading of the course is based on the following components, each component meant to assess one or more of the course objectives given above:
Three exams (including final) 60
Homework/projects/reading assignments 20
Case study 10
Attendance 10
Total 100
In fairness to all, no late homework will be accepted.
The following are guaranteed grades if your accumulated percentage over the semester falls into the following ranges: A (85 and above), B+(80-84%), B (75-79%), C+(70-74%), C(65-69%), D+(60-64%), D(55-59%). For those exhibiting superior performance in projects, homework, and classroom participation, up to 5 bonus points may be considered especially if the exam average falls below 70%.
The course runs on an honor system that expects each student to put an honest effort in meeting the learning objectives. The purpose of the homework and team project is to provide a working environment for you to practice creative problem solving, thereby enhancing your analytical, syntactical, computer- and people-oriented skills. Your ability to integrate mathematical and engineering sciences with skills businesses needs in today’s global economy demonstrates the synthesis character of engineering. Enjoy that wonderful experience when it occurs!
PLANNED COURSE SCHEDULE
For every hour you attend the class, please plan on average 2 hours of work off-class. Considering 3 credits for this course, you are expected to do 6 hours of work outside the class every week. The planned schedule for each week is given in Table 1.
Table 1. Planned activities for EGM320: Engineering Project Analysis (Revised 2/9/06)
|
Date |
Chapter to Cover |
Assignments |
|
1/16 Mon |
Know your professor Know your classmates Start building teams Description of course, review of syllabus Campus resources - academic help, computers, organizations, literature Introduction of the course |
Build your teams of 3-4 students for homework and projects
|
|
1/18 Wed |
Chapter 1 |
|
|
1/23 Mon |
Chapter 2 |
Due: 1-3, 1-11, 1-12, 1-14, 1-16 |
|
1/25 Wed |
Chapter 2 |
|
|
1/30 Mon |
Chapter 2 |
|
|
2/1 Wed |
Chapter 3 |
Due: 2-3, 2-6, 2-12, 2-17, 2-25, 2-30, 2-32, 2-35, 2-39, 2-46 |
|
2/6 Mon |
Chapter 3 |
|
|
2/8 Wed |
Chapter 15-blank |
|
|
2/13 Mon |
Chapter 4 |
Due: blank-15.4, 15.20, 15.26, 15.35, 15.40, 15.45, 15.48, 15.49, 15.50, 15.51 |
|
2/15 Wed |
Chapter 4 |
|
|
2/20 Mon |
Chapter 4 |
|
|
2/22 Wed |
Chapter 4 |
Due: 4-2, 4-7, 4-12, 4-14, 4-15, 4-18, 4-30, 4-32, 4-34, 4-44, 4-55, 4-68, 4-87, 4-97, 4-106 |
|
2/27 Mon |
Exam 1 (Chapter 1-4) |
|
|
3/1 Wed |
Chapter 5 |
|
|
3/6 Mon |
Spring Recess |
No Class |
|
3/8 Wed |
Spring Recess |
No Class |
|
3/13 Mon |
Chapter 5 |
|
|
3/15 Wed |
Chapter 6 |
Due: 5-2, 5-15, 5-19, 5-27, 5-40 |
|
3/20 Mon |
Chapter 6 |
|
|
3/22 Wed |
Chapter 6 |
|
|
3/27 Mon |
Chapter 7 |
Due: 6-2, 6-4, 6-14, 6-19, 6-22, 6-25, 6-27, 6-31, 6-37, 6-40 |
|
3/29 Wed |
Chapter 7 |
|
|
4/3 Mon |
Guest Lecture on Cost of Capital-Nandita Das, Jay Sidhu School of Business and Leadership |
5:00-6:15 PM |
|
4/5 Wed |
Chapter 10 |
|
|
4/10 Mon |
Chapter 10 |
Due: 7-9, 7-14, 7-20, 7-16, 7-18, 7-22 7-28, 7-30, 7-35, 7-42 |
|
4/12 Wed |
Chapter 14 |
|
|
4/17 Mon |
Holiday Recess |
No Class |
|
4/19Wed |
Chapter 14 |
Due: 10-2, 10-7, 10-16, 10-21, 10-22 |
|
4/24 Mon |
Exam 2 |
|
|
4/26 Wed |
Case Study Presentations |
Due: 14.2, 14.5, 14.9, 14-10, 14-14 |
|
5/1 Mon |
Case Study Presentations |
|
|
5/3 Wed |
Friday Schedule |
No class |
|
5/8 Mon |
Grand Finale |
6:00-9:00 PM |
Guest Lecture by Nandita Das, Jay Sidhu School of Business and Leadership
April 3, 2006, Monday, 5:00-6:15 PM
Cost of Capital: What a firm has to pay for capital – that is the debt, preferred stock, retained earnings, and common stock – it uses to finance new projects. She will introduce students to different components of capital and then move on to cost of capital. This topic is a capstone of different topics covered in the course.
Case-Study Assignments and Presentations
Team 1: Total Cost Estimates for Optimizing Coagulant Dosage ( p. 525 of Blank)
Team 2: Indirect Cost Comparison of Medical Equipment Sterilization Unit (p. 528 of Blank)
Team 3: A Proposed Capital Investment to Improve Process Yield (p. 231 of Sullivan)
Team 4: Ned and Larry’s Ice Cream Company (p. 285 of Sullivan)
Team 5: Analyzing a Proposed Business Venture (p. 451 of Sullivan)
For teams 1, 2, and 3, the case study presentation is on April 26 and for teams 4 and 5, it will be on May 1.
Operational Details on Enhancing Learning Outcomes
In thinking about your professional and personal goals, remember that each course you take at Wilkes University contributes to the overall goals of a university education and the program in which you are enrolled. The goals are sometimes referred to as global or general objectives; likewise, objectives are sometimes referred to as specific goals. The point is that goals are general in nature, while objectives are specific in nature, yet both refer to the desired outcomes—the mileage covered during a journey (objective) towards a given goal. Cognitive domain of most interest to learners involves knowledge acquisition and dissemination, critical thinking, and synthesis. The Bloom’s Taxonomy divides this cognitive domain into six levels:
1. Knowledge—Recalling material you have learned. Remembering facts, principles, steps in a sequence, etc.
2. Comprehension—Understanding the material. At this stage you should be able to explain what you know, translate to new forms and symbols and extrapolate.
3. Applications—At this stage you should be able to use the material in new situations, that is apply concepts, principles, rules, theories, and laws to find solutions to new problems—problems you haven’t seen before.
4. Analysis—At this level you should be able to break things apart so that relationships are understood. For example, you might analyze a business problem by following the step-by-step approach.
5. Synthesis—You should be able to put together parts to form a new whole—that never was before. Professionals do this when they write proposals, design new procedures, etc.
6. Evaluation—Here you should be able to use what you know about a subject area to make critical judgments, rate ideas or objects and to accept or reflect materials based on standards. The key skill is the ability to make judgments.
The cognitive platform above explains how your course is structured. The level 1 is listening to lectures. That is not enough for you to be an informed professional. You need to restate ideas in different forms while posing questions in and out of the classroom (level 2). Application part (level 3) comes in when you attack complex problems or case studies. Analysis (level 4) allows you to delineate the steps in doing individual problems/projects that have a single outcome. However, level 5 will bring you to where you will be at the peak of profession—generating alternatives towards meeting the goal of a given project or business case. The level 6 brings you to evaluating alternatives in the context of its usage and also to assess your team members’ contributions.
What is Creative Problem Solving?
We live in a chaotic world where resources are limited and human wants insatiable. We must learn to solve problems within the constraints of resources available. Constraints Management is a new paradigm that demands our creativity. It embraces levels 5 and 6 on Bloom’s Taxonomy. Team projects and homeworks assigned will give you an opportunity to brainstorm those necessary constraints that creep in. The steps to follow in attacking a problem creatively is to define it, explore analogous situations, plan its execution, perform execution, and evaluate the solution in the light of available benchmarks. Although report writing may vary in style and contents, you will be well on your way in exhibiting your communication to peers and public alike.
Tenets of Cooperative/Collaborative/Team Learning
You can develop and gain confidence in your team skills by following the five tenets of cooperative learning:
Positive Interdependence. Team members are obliged to rely on one another to achieve the goal. If any team members fail to do their part, everyone on the team suffers consequences.
Individual accountability. All team members are held accountable both for doing their share of work and for understanding everything in the final product (not just the part for which they were primarily responsible).
Face-to-face promotive interaction. Although some of the group work may be done individually, some must be done interactively, with team members providing mutual feedback and guidance, challenging one another, and working toward consensus.
Appropriate use of teamwork skills. You are encouraged and helped to develop and exercise leadership, communication, conflict management, and decision-making skills.
Regular self-assessment of teamwork skills. Team members set goals, periodically assess how well they are working together, and identify changes they will make to function effectively in future.
You will also be able to identify four potential personality types while working as a team: coordinator, quarreler, dominator, and freeloader. You should be able to identify the personality type of each member of the team and find ways to resolve conflicts. Coordinator role must rotate so that every one gets a chance to understand personality types and make freeloader active.
Your total engagement in the course (in fact the program and university life) contributes to your success in your professional life. By working in coordination, you will be a creative learner—constructing, discovering, transferring, and extending the knowledge you gain by working as a team with your instructor and peers alike. Practicing those skills will make you a life-long learner.
Please indicate how well you believe these learning outcomes were effective on the scale of 5 = accomplished to 1= accomplished and 0 = not accomplished.
Course outcome How effective was this outcome?
In this course, I was able to:
|
Solve problems that demonstrate a sound understanding of the principles, basic concepts, and methodology of engineering economy. |
5 |
4 |
3 |
2 |
1 |
0 |
|
Make rational decisions in situations likely to be encountered in the professional practice of engineering. |
5 |
4 |
3 |
2 |
1 |
0 |
|
Use computer and information tools to design, model, analyze, and interpret the outcomes. |
5 |
4 |
3 |
2 |
1 |
0 |
|
Communicate comprehension in an oral presentation and written documents. |
5 |
4 |
3 |
2 |
1 |
0 |
|
Solve a business case in self-directed work team, evaluate contributions of partners, and assess values and virtues of team dynamics. |
5 |
4 |
3 |
2 |
1 |
0 |
I would like to make the following suggestions to improve the quality of course offering as it relates to the challenges of the personal and professional life
Over for Attributes Assessment
This course made me acquire a-k ability attributes (listed below) on the scale of 5 = substantial, 1 = not noteworthy and 0 = not relevant to the course.
Attribute outcome
|
How well was this outcome met? |
|
a. An ability to apply knowledge of mathematics, science, and engineering |
5 4 3 2 1 0 |
|
b. An ability to design and conduct experiments as well as to analyze and interpret data |
5 4 3 2 1 0 |
|
c. An ability to design a system, component, or process to meet desired needs |
5 4 3 2 1 0 |
|
d. An ability to function on multidisciplinary teams |
5 4 3 2 1 0 |
|
e. An ability to identify, formulate, and solve engineering problems |
5 4 3 2 1 0 |
|
f. An understanding of professional and ethical responsibility |
5 4 3 2 1 0 |
|
g. The broad education necessary to understand the impact of engineering solutions in a global/societal context |
5 4 3 2 1 0 |
|
h. An ability to communicate effectively
|
5 4 3 2 1 0 |
|
i. A recognition of the need for and an ability to engage in lifelong learning |
5 4 3 2 1 0 |
|
j. A knowledge of contemporary issues
|
5 4 3 2 1 0 |
|
k. An ability to use the techniques, skills, and modern engineering tools necessary for engineering practice |
5 4 3 2 1 0 |
Any suggestions? Please record.
Student Response Survey (SRS) Assessment Form
|
|
SRS Question |
Strongly Strongly Agree Disagree |
|
|
I. Course Organization |
|
|
1 |
syllabus clarified my responsibilities |
1 2 3 4 5 NA |
|
2 |
syllabus clarified grading procedures |
1 2 3 4 5 NA |
|
3 |
what was done agreed w/ learning objectives |
1 2 3 4 5 NA |
|
4 |
instructor made material relevant to other disciplines |
1 2 3 4 5 NA |
|
5 |
class time used efficiently |
1 2 3 4 5 NA |
|
|
II. Grading |
|
|
6 |
text and/or manuals helped me learn |
1 2 3 4 5 NA |
|
7 |
exams/assignments appropriate to material and objectives |
1 2 3 4 5 NA |
|
8 |
exams/assignments graded fairly |
1 2 3 4 5 NA |
|
9 |
helpful feedback provided on tests and assignments |
1 2 3 4 5 NA |
|
|
III. Instructor Communication |
|
|
10 |
instructor communicated enthusiasm for material |
1 2 3 4 5 NA |
|
11 |
instructor appeared knowledgeable about the subject |
1 2 3 4 5 NA |
|
12 |
instructor answered questions clearly |
1 2 3 4 5 NA |
|
|
IV. Instructor Interaction with the Students |
|
|
13 |
instructor stimulated intellectual curiousity |
1 2 3 4 5 NA |
|
14 |
instructor encouraged student participation |
1 2 3 4 5 NA |
|
15 |
instructor used examples and illustrations |
1 2 3 4 5 NA |
|
|