Cost Engineering

Module Code: EG7323

Cost engineering is an engineering practice dedicated to the management of all the aspects of product cost, and in this module we will gain an understanding of product cost (which covers both initial cost and lifecycle cost) and its drivers (any factors that cause a change in the cost of an activity).

We will explore and use cost engineering methods to identify and optimise product cost drivers, and construct and use both parametric and generative cost models of components. You will use industry standard cost estimating software tools, and reflect upon them – critiquing their limitations and proposing improved approaches. We will identify and apply cost reduction opportunities by selecting from a number of analysis methods including Design for Manufacture (DFM) and applying them.