Department of Industrial and Manufacturing Engineering - Leading Process and Product Improvement

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IME 2100 - Engineering Cost Estimating


Catalog Description:

This course will cover engineering cost estimating principles including development of standard costs, development of general overhead and burden rates, and quoting and estimating new jobs.

Credits: 3 hours

Lecture Hours - Laboratory Hours: (3 - 0)


Prerequisites by Topic:

  • Mathematical level equivalent to MATH 1180

Course Objectives:

At the end of the semester the student will be able to:

  1. Understand financial statements, including profit and loss and balance sheet.
  2. Compute labor and material components of product cost.
  3. Understand the importance of making appropriate economic decisions.

Performance Criteria:

The student will be able to:


Objective 1

Construct and interpret financial statements.

Objective 2

Identify relevant and pertinent data and apply appropriate labor and material costing methods to determine variable cost.

Objective 3

Identify other relevant costs to determine total cost.

Objective 4

Correctly identify how economic decisions impact individuals, companies, and society in general.


Textbooks:

Cost Analysis and Estimating for Engineering and Management, Phillip Ostwald and Timothy McLaren, 1 st Edition, 2004, Prentice-Hall.


Course Instructor:

Bob White

Industrial and Manufacturing Engineering
Western Michigan University
E-216 Parkview Campus
Kalamazoo, Michigan 49008-5336
Phone: 276-3379
Email: bob.white@wmich.edu

Revision Date: Spring 2006

 

Department of Industrial and Manufacturing Engineering
Western Michigan University
Kalamazoo MI 49008-5336 USA
(269) 276-3350 | (269) 276-3353 Fax



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Questions: ime-info@wmich.edu