Course Code
EET517
Course Credit
2
This course provides the foundation of cost estimation as it applies to production costs. The student will study methods of estimating cost based on knowledge of material costs and the evaluation of the process. Topics include amortization of capital cost, labour cost, material cost, design & engineering cost, packing cost, and shipping cost. The student will learn methods of optimization in order to reduce costs. The student is required to choose a suitable technical project, obtain department approval for it, and submit a plan for the completion of their technical project and report. This course will also serve to assist students in estimating costs for their technical projects.