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J.H. Berk and Associates

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Engineering Economics

Plagued by capital equipment alternative investment decisions?  Not certain if you need to invest, or if the investment makes economic sense?  Need to communicate sensible investment decision criteria to your team?

Engineering Economics is an 8-hour program focused on capital investment decision-making and related investment issues.   At the conclusion of this program, your staff will understand:

  • Your organization's criteria for investment decisions.

  • The time-value-of-money concept.

  • How to assess alternative investments.

  • How to assess and minimize risk associated with alternative investments.

Materials

  • Engineering Economics, a set of approximately 100 presentation charts, ManufacturingTraining Seminars.

Who Should Attend

Manufacturing managers, manufacturing engineers, industrial engineers, and others with a role in capital investment decision criteria should attend this training program.

Engineering Economics Syllabus

  • Class 1:  Introduction & Cost Concepts.  Course overview.  The capital acquisition and budgeting process.  Investment decision considerations.  Cost elements, including labor, material, equipment, installation, and moving services.  Depreciation and amortization.  Costs related to poor quality and recurring nonconformances.  Quality cost data bases.  Standards, efficiency factors, and utilization factors.  Capturing manufacturing costs.  Approval levels for capital acquisitions.  Prioritizing capital investment candidates.  Class exercise.

  • Class 2:  Time Value of Money.  The time value of money concept.  Cost of money considerations, including interest rate determination, and compounding period, and other factors.  Calculating simple and compound interest.  Nominal and effective interest rates.  Interest formulas relating present and future values.  Microsoft Excel features that support time value of money calculations.  The impact of burden, overhead, and general and administrative rates on capital investment decisions.  Identifying interest rate factors and overhead rates.  Class exercise.

  • Class 3:  Investment Approaches.  Capital investment considerations. The annual worth, net present value, internal rate of return, and payback approaches.  Replacement analysis.  Considering depreciation in investment decisions.  Tax considerations.  Advantages and disadvantages of the different investment analysis approaches.   Microsoft Excel features that support investment analysis.  Class exercise.

  • Class 4:  Risk Management.  Capital investment risk areas, including design package evaluation, facilitization, procurement, environmental health and safety, regulatory, and other risks.  Capital investment risk identification and analysis.  Environmental health and safety considerations.  Capital equipment supplier stability and after-sale support.  Identifying capital equipment after sale maintenance requirements.  Selecting capital equipment sources.  The Yes-No analysis approach.  Systems failure analysis. Creating capital equipment specifications.  The roles of the Procurement and Finance organizations in capital investment decision-making.  Course critique.  Final examination.   
 

The above training can be customized to meet your requirements.

Need a guest speaker for an important luncheon or dinner meeting?  Please contact us.

Any questions?  Please call us at 909 204 9984 or contact us via e-mail.
An unending focus on cost reduction is what makes businesses survive and thrive in good times and bad.  Our newest book, Cost Reduction and Optimization for Manufacturing and Industrial Companies, was published in January 2009 by Scrivener Publishing and Wiley.  This is a hands-on, no baloney, rapid road map approach for any organization interested in identifying and acting on cost reduction opportunities.  The book focuses on design, process, supplier, and overhead areas.   In addition to providing roadmaps in each area, this book identifies the risks (and actions to control risk) for each recommendation. As an added feature, Excel templates for the quantitative assessment techniques included with this book can be downloaded here.  (If you need help with this template, just give us a call at 909 204 9984.)
One of our key training areas (and the one we built the business on) is failure analysis.  We know what it's like when recurring failures add cost to the operation and you have to find the right fix quickly.   We also know what it's like when a failure shuts the operation down or prevents clients from using your product.  

ASM International published our latest work, Systems Failure Analysis, in December 2009, and you can order a copy here.  This is a great book based on actual experience in manufacturing environments, with a focus on finding and fixing root causes of complex systems failures.   Our Failure Analysis and Root Cause Analysis training programs use the approaches and technologies described in Systems Failure Analysis because they work, as many satisfied clients will attest.

Quality Management for the Technology Sector focuses on implementing quality management techniques with proven track records.  This 1-day seminar focuses on quality measurement, root cause corrective action techniques (including FMEA, FTA, and SFA), defining customer expectations (including QFD), using statistical techniques (including SPC and DOE), supplier teaming, and the latest quality standards (including ISO 9001:2000).  The program is based on Quality Management for the Technology Sector (Butterworth-Heinemann, 2002), our hands-on, practical guide to implementing effective quality management tools.

I would highly recommend this book not just to quality assurance professionals, but to professionals in all disciplines. - John W. Gozza, Quality Assurance Manager, Composite Structures LLC

Have a new management assignment, or know someone who recently was promoted into one?  Check out our book that provides guidance for new managers, A Handbook for First Time Managers.

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