Overview
CHOOSE ONE OF THE FOLLOWING OPTIONS :
Discussion Option 1: This assignment aims to develop your understanding of the current state of price inflation and its potential impact on economic considerations for an engineering project.
- Find a recent article - Search for a recent article (published within the last six months) from a reputable source that discusses price inflation and its potential impact on the economy.
Provide the title, publication date, and a link to the article in your initial discussion board post. - Read the article, and then once you've read it, start a new thread in the Value Design Discussion forum (the title of the thread should be something descriptive of the focus of your article) Summarize the main points of the article (1-3 paragraphs) - Identify specific industries or sectors mentioned in the article that may be particularly affected by inflation. Highlight key factors contributing to inflation and any insights into its potential consequences on various economic aspects.
- Analyze the impact for considerations on an engineering project - Discuss how the information from the article could impact the economic analysis of a potential engineering project. Consider factors such as
- Cost estimation: How might inflation affect the cost of materials and labor for the project?
- Financing: Explore how inflation rates could influence interest rates and financing options.
- Decision-making: Discuss potential strategies for a project manager to mitigate the impact of inflation on the project
Discussion Option 2: In this assignment you will explore real-world applications by analyzing an article on a planned project, assessing its economic viability, and predicting its impact on the local community or business.
- Find a recent article - Search for a recent article (published within the last six months) on a planned project by government or industry with a focus on engineering aspects.
Provide the title, publication date, and a link to the article in your initial discussion board post. - Read the article, and then once you've read it, start a new thread in the Value Design Discussion forum (the title of the thread should be something descriptive of the focus of your article). Post a summary of the article you selected for analysis, emphasizing engineering economic aspects (1-3 paragraphs). To the extent possible, identify key engineering economic factors, such as cost analysis, financial feasibility, and potential impacts on stakeholders.
- Provide your opinion on whether the planned project is a good economic decision, supporting your viewpoint with relevant engineering economic principles discussed in class.
- Discuss the expected benefits or drawbacks of the project for the local community or business from an engineering economic perspective.