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Seat No.: ___Enrolment No.___GUJARAT TECHNOLOGICAL UNIVERSITY BE SEMESTERVII (NEW) EXAMINATION SUMMER 2022Subject Code:3170615 Date:03/06/2022 Subject Name:Engineering Economics, Estimation and Costing
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List the key topics covered in the subject, such as time value of money, economic decision making, and cost estimation
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Engineering economics estimation is a method used to evaluate the economic viability of engineering projects by analyzing costs, benefits, and other financial aspects.
Individuals or organizations involved in engineering projects that require financial assessment and justification for funding may be required to file engineering economics estimates.
To fill out engineering economics estimation, one must gather relevant data on project costs, expected benefits, and applicable financial metrics, then complete the required forms with accurate calculations and supporting documentation.
The purpose of engineering economics estimation is to assess the feasibility and financial implications of engineering projects to facilitate informed decision-making.
Information that must be reported includes project costs, expected returns, cash flow projections, economic analysis metrics (such as NPV and IRR), and risk assessments.
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