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ENGR 301 Engineering Management Principles

& Economics

Faculty of Engineering and Computer Science

Fall 2015

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Course Objectives

At the end of this course, students are expectedto have a general understanding of theprinciples of project management andengineering economics which is neccessaryfor:

-Engineers working as Project Managers

-Engineers working in Projects

-Engineers in charge of making decisions with

Economic considerations

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Course Title: ENGR 301 Engineering ManagementPrinciples & Economics

Term: Fall 2015

Instructor: Dr. Fuzhan NasiriOffice: EV 6.207,

Email: fuzhan.nasiri@concordia.ca

Lecture: Time [Tue & Thr 16:15-17:30],Classroom [H-415]

Tutorial: A) Time [Thr 17:45-18:35],Classroom [TBA]

B) Time [Thr 19:45-20:35],Classroom [TBA]

C) Time [Tue 19:45-18:35],Classroom [TBA]

D) Time [Tue 19:45-20:35],Classroom [TBA]

Office Hour: Tue 13:30-15:30

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Required Course Text BookEngineering Management Principles and Economics,custom Pearson ebook available through the Concordia

Bookstore. This ebook comprises several chapters taken from

references 1 and 2 below as well as some chapters prepared byDr. C.J. Willis and some sections prepared by Dr. G.J. Gouw. Thisebook is available for rental from the Campus Bookstore (inperson from the cashier or online from the Bookstores website).

E-Textbook:http://www.pearsoncustom.com/can/concordia_engi_econ/

Suggested Readings:Jeffrey, K. Pinto (2012). Project Management: Achieving CompetitiveAdvantage (3rd Edition), Prentice Hall, ISBN: 978-0132664158

Niall M. Fraser, Elizabeth M. Jewkes (2012). Engineering Economics:Financial Decision Making for Engineers (5th Edition), PearsonEducation Canada, ISBN: 9780132935791

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Topic Lectures

Introduction 1

Project Management Stakeholders & Organization 2

Project Management Contract Management 3

Project Management Delivery & WBS 4

Project Management Planning & Scheduling 5

Project Management Planning & Scheduling 6

Project Management Costing 7

Project Management Costing 8

Engineering Economics Time Value of Money 9

Engineering Economics Cash Flows 10

Engineering Economics Interest Rates 11

Midterm Revision 12

Midterm Exam October 20

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Topic Lectures

Engineering Economics Interest Rate II 13

Engineering Economics Project Evaluation I 14Engineering Economics Project Evaluation II 15

Engineering Economics Decision Making with Alternative Projects I 16

Engineering Economics Decision Making with Alternative Projects II 17

Engineering Economics Replacement Analysis 18Engineering Economics Other Economic Evaluation Techniques 19

Engineering Economics Depreciation I 20

Engineering Economics Depreciation II 21

Engineering Economics Tax I 22

Engineering Economics Tax II 23

Engineering Economics Inflation 24

Final Revision 25

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Grading:

Assignments 10%

Midterm Exam 35%

Final Exam 55%

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Introduction to Project Management

Faculty of Engineering and Computer ScienceENGR 301

D. Fuzhan Nasiri

Fall 2015

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Contents

Basics

Project

Phases of a Project

Project Management

Project Management Objectives

Project Management Past & Present

Project Management Training & Associations

Project Management Knowledge Areas

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Basics: Project

Projects are unique, transient endeavours undertaken toachieve a desired outcome. [Association for ProjectManagement, 2004]

A project is a temporary endeavour undertaken to create aunique product or service. [Project Management Institute,2004]

A unique set of coordinated activities, with definite starting andfinishing points, undertaken by an individual or organisation tomeet specific performance objectives with defined schedule,cost and performance parameters. [British Standard 6079,

2000]

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Basics: Project (Common Aspects)

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Basics: Phases of a Project

InceptionThe project is first visualized by the investors/owners.

Feasibility & Planning

Timing, costs, and budget of the project is estimated by theinvestor/owner.

Design

The components and activities of the project are determined byarchitects/Engineers

Procurement

The requirements of the projects are acquired/purchased

Construction

The project is implemented

Commissioning & Start-up

The project is delivered to the owners/investors

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Project Management Objectives

Estimated

Cost: $7 million

Time: 4 Years

Actual

Over $100 million

14 Years

From a project management perspective, it was a failure.

But

From the perspective (quality) of what is delivered, it is, infact, considered a success.

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Project Management Objectives

The aim of a project management practice is to deliver a project onTime, Cost, and Quality targets (Triangle of Values).

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Project Management Past & Present

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Project Management Training & Associations

Project Management Institute (PMI)

A US-based institution with worldwide chapters and aglobal membership body of over 300,000 professionalsdevoted to promoting project management profession

by providing and establishing training, networking,research, standards, and publication services. ProjectManagement Professional (PMP) certificate issued byPMI is considered a standard credential andrequirement for project managers.

Association for Project Management (APM)

A UK-based project management association with

global membership mainly involved in provision ofqualification for project management professionals,including Registered Project Professional (RPP) andCertified Project Manager (CPM).

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Project Management Knowledge Areas

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Project Management Knowledge Areas

1. Project Integration Management: Processesrequired to ensure proper coordination of variousproject elements and activities which consists ofProject Plan Development, Project Plan Execution,

Integration Change Control.

2. Project Scope Management: Processes required toensure that project contains and delivers all the

required work which includes Scope Initiation,Planning, Definition, Verification, and ChangeControl.

3. Project Time Management: Processes required toensure timely completion of the project whichincludes Activity Definition, Sequencing, DurationEstimation, Schedule Development, and ScheduleControl

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Project Management Knowledge Areas

4. Project Cost Management: Processes required toensure the project is completed within the plannedbudget which includes Capital Planning, CostEstimating, Budgeting, and Cost Control

5. Project Quality Management: Processes required toensure the project satisfies the needs for which it was

undertaken which includes Quality Planning, QualityAssurance, and Quality Control

6. Project Human Resource Management: Processesrequired to ensure most effective use of peopleinvolved which includes Organizational Planning,Staff Acquisition, and Team Development

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Project Management Knowledge Areas

7. Project Communications Management: Processesrequired to ensure timely and appropriate handling ofproject information which include CommunicationsPlanning, Information Distribution, Performance

Reporting, Administrative Closure

8. Project Risk Management: Processes concernedwith identifying, analyzing, and responding to project

risk which include Risk Identification, Risk Analysis,Risk Monitoring, Risk Management and ResponsePlanning

9. Project Procurement Management: Processesrequired to acquire goods & services from outsideorganization which include Procurement andSolicitation Planning, Solicitation, Source Selection,Contract Management

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Next Session

Project Organization

Project Stakeholders

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Thank You!