Engineering economics and cost analysis

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Reference no: EM131282863

Engineering Economics and cost estimation is the subject or course name. Basically the thing is how u come up with different snow removal alternatives, to reduce the overall cost spent by the university every year in plowing work. The best cost economic alternative would be taken into consideration.Atleast am looking for 3 alternatives.

Project Report on this Topic is required:

Snow Removal - Design Project Assignment

EM673 – Engineering Economics & Cost Analysis(Course name, in which they have given the project)

The Given Situation: The university must plan for snow removal each winter. The design project is to propose the most economic way for this to be done (i.e., cost minimization), taking into account all relevant performance issues. These will be laid out in the following paragraphs.

Among the things to take into account is the area that needs to be cleared. For simplicity, do not consider walking paths, only automobile pathways and parking lots. Thus, assume an estimate of the area on the West Haven campus to be cleared as 25 acres, as well as the physical differentiation of parking lots and roadways.   You must obtain estimates of the clearing capacity (rate of clearance per unit time) for the various equipment alternatives available.

Secondly, you need to determine the expected (average) winter snow incidence, as well as the ‘worst case’ situations of very heavy snow. Thus, you need to get data from the national or local weather service bureaus that tell how much snow fell in aggregate each season, as well as the number of incidences each season, for a representative period such as the last ten years. In addition, the data should be in the form for you to separate how many incidences of snowfalls of various severities, in order to design a workable system.

Thirdly, you need to set reasonable performance criteria such as to clear the areas for classes to run, beginning at 8:30 am for day classes, and a 5:30 pm commencement for evening classes. The maintenance staff may be called upon at any time of day to implement your design. Your criterion should address all snowfall eventualities. For simplicity, ignore the condition of ice, which requires a modified approach to treatment.

Finally, you need to consider the available manpower. Assume that as many as 25 maintenance people are available for assignment for snow removal.

Required.   Your assignment is to design a snow removal system that meets the performance criteria that you have outlined, at minimal cost. Cost includes both capital cost (including vehicles and structures) as well as operating cost (including labor costs, vehicle operation, insurance and maintenance). Assume that the cost of capital for the university is 8 percent per year.

For this project, you will be organized into small teams with members from different majors (engineering disciplines). Each team is required to arrive at its final design by fully considering at least 2 mutually exclusive alternatives. Each such alternative must be fully describable in terms of performance and cost as outlined above, with the selection of the superior choice clearly justified, based on consideration of performance and cost.

Reference no: EM131282863

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