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Which of the following statement(s) is(are) not considered in developing procedures for engineering economic analysis? Answer...

Which of the following statement(s) is(are) not considered in developing procedures for engineering economic analysis? Answer it based on the information in your lecture notes and textbook only.

a.

Problem recognition, definition, and evaluation.
b.

Process re-engineering.
c.

Development of the feasible alternatives.
d.

Selection of a decision criteria.
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Answer #1

Answer:

B. Process re-engineering.

Explanation:

There are following steps of procedure of engineering economic analysis.

Step - 1.Problem recognition, definition, and evaluation

Step - 2 Development of the feasible alternative

Step-3 development of the outcome and cash flow of each alternative.

Step-4. Selection of a decision criteria.

Step-5. Analysis and comparison of alternative.

Step-6. Selection of the preferred alternative.

Step-7. Performance monitoring and post evaluation of result.

➡️ Process re-engineering is not included im the process of engineering economic analysis.

Process re-engineering is the process of examination and redesign of process.

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