Question

By using the steps of decision-making process, choose and analysis an economical engineering project.
Choose the best alternative, and explain the reason behind it.

Answer 1

Decision are made routinely to pick one option over another by people in regular day to day life, engineers at work by administrators who oversee the exercises of others activities. Most decision include cash, called capital or capital assets,which is typically constrained in sum. The decision of where and how to contribute this restricted capital is roused by an essential objective of including an incentive as future, foreseen aftereffects of the chose elective are figured it out.
Architects assume an indispensable job in capital speculation choices dependent on their capacity and experience to configuration,break down. The variables where upon decision are based on general blend of monetary and non economic components. Designing economy manages the financial components.
Building economy includes detailing, assessing and assessing the normal financial results of options intended to achieve a defined reason. Scientific methods streamline the monetary assessment of choices.

In Engineering project the operation includes cost factor, So they involve economic decision making process. Due to lack of information some project makes wrong decision in the project. The economic decision should be made when all the information is received and after receiving the information the engineer should properly go through it so that he will make best decision out of it and avoid wrong decision.