Engineering Cost Management (EM620)

This course will provide an understanding of both the tools and models that can be used throughout the design, development, and support phases of a system to conduct trade-offs between system performance and life-cycle cost (LCC). The students will be exposed to the methods, processes, and tools needed to conduct economic analysis,
estimation, and management from a life cycle perspective of complex systems. The fundamentals of engineering economy and simulation based costing are presented to support economic analysis. Parametric cost estimation, the COCOMO family of models, off the shelve and open source, and bottoms up estimating are presented in support of economic estimation. Cost as an Independent Variable, cost of quality, and project management are all discussed to provide the students with an understanding of cost management from a LCC perspective.