Industrial Management
 
 
Subject Code: EME3056
Aim of Subject: To introduce to the students the concepts and practice of industrial management and engineering economics.
Learning Outcome of Subject: At the completion of the subject, students should be able to :
  • Conduct economic analysis for single or multiple alternatives
  • Apply depreciation and replacement analysis for various projects
  • Conduct B-C analysis for public projects
  • Explain the history, basic concepts and the new changes in organization and management.
    • .
  • Distinguish between general and specific environment of an organization.
  • Apply of information technology (IT) in managing organization
  • Conduct ethical analysis in decision making
Programme Outcomes:
  • Ability to acquire and apply fundamental principles of science and engineering(10%)
  • Capability to communicate effectively(20%)
  • Ability to identify, formulate and model problems and find engineering solutions based on a systems approach(10%)
  • Understanding of the importance of sustainability and cost-effectiveness in design and development of engineering solutions(30%)
  • Ability to work effectively as an individual, and as a member/leader in a team(20%)
  • Ability to be a multi-skilled engineer with good technical knowledge, management, leadership and entrepreneurship skills(10%)
Assessment Scheme:
  • Lab Experiments - work in groups, lab report writing, oral assessment at the end of lab (10%)
  • Tutorial / Assignment - group assignment,focus group discussion at tutorial,to enhance understanding of basic concepts in lecture(15%)
  • Test Quiz - written exam (15%)
  • Final Exam - written exam (60%)
Teaching and Learning Activities: 54 hours (lectures,tutorials and laboratory experiment)
Credit Hours: 3
Pre-Requisite: EME2036 Manufacturing and Operations Management and
BHM2046 Basic Economics, Accounting and Management
References:
  • J.R. Schermerhorn, "Management", Wiley, 8th edition. (Textbook)
  • W.G. Sullivan, E.M. Wicks, J.T. Luxhoj, “Engineering Economy”, Prentice Hall, 12th edition. (Textbook)
  • G.J. Thuesen and W.J. Fabrychy, "Engineering Economy", Prentice Hall, 1993
  • L.T. Blank, “Engineering Economy”, McGraw-Hill, 6th edition.
  • T. S. Bateman, S. A Snell, “Management: The New Competitive”, McGraw-Hill, 6th edition

Subject Contents

  • Foundations of Engineering Economy

    • Introduction to engineering economy. Non-linear breakeven analysis.
     
  • Money-time Relationship

    • Simple and compound interest. Simple payment factor. Uniform series. Arithmetic gradient factor. Geometric gradient factor. Combining factors. Nominal and effective interest rates.
     
  • Application of Money-time Relationship

    • Analysis of equivalent worth. Rate of return. Payback period. Evaluating multiple alternatives. Replacement analysis.
     
  • Public Project, Depreciation and Inflation Analysis

    • Benefit-cost analysis. Depreciation accounting. Impact and calculation of inflations.
     
  • Context of Management

    • Dynamic new work place. Ethical behavior and social responsibility. History foundation of management
     
  • Organizational Environment

    • Organizational culture and environment. Global dimensions of management
     
  • Organization

    • Traditional organization structures. New type of organization structures and design.
     

Laboratory

1. Equivalent worth for alternatives
2. Comparing alternatives using ROR method