..After Completing This Chapter...
The student should be able to:· Distinguish between simple and complex problems.
·Discuss the role and purpose of engineering economic analysis.
· Describe and give examples of the nine steps in theeconomic decision making process.
· Select appropriate economic criteria for use with different type of problems.
· Solvesimpleproblemsassociatedwithengineeringdecisionmaking.
QUESTIONS TO CONSIDER
1.How did the cost and weight of fireproofing material affect the engineers' decision
making when the Twin Towers were being constructed?- How much should a builder be expected to spend on improved fireproofing, given the
unlikelihood of an attack on the scale of 9/11? - How have perceptions of risk changed since the 9/11 attacks, and how might this affect
future building design decisions?