1. Intro to Economics Engineering
Definition:
@@Project@@: A set of steps that need planning, executing actions, and evaluating outcomes. It has to have alternatives to have the project with the lowest expenses and the highest return money.
Example: Assembling Computers
| Alternative 1 | Alternative 2 |
|---|---|
| MR: Material resources, workplaces, equipment, utilities. | MR: Material resources, workplaces(if local: work, equipment, utilities. |
| HR: Human resources | HR: Human resources |
| The result: Sales | The result: Sales |
Types of projects & types of planning:
- Investment projects: projects that require expenses and expect an income return.
Non-investment projects: projects that may or may not have expenses and no income return.
- There are three types of planning for a project:
- Planning based on STEEPLE( social, technological, economic, environmental, political, legal, ethical) + Business analysis
- Planning based on
- Planning based on
The criteria that should be taken into consideration:
@@Costumers@@: during the planning, the range of people targetted should be specified
@@Competition@@: competitors should also be considered to not fall into a trap or imitate, your brand should be distinguishable.
\* The competitive advantage: what distinguishes your brand from other competitors in the market shares.
@@Supplies@@: the material that the project will work with should be considered as well as the source you will get from your supplies.