Engineering Money: Financial Fundamentals for Engineers / Edition 1

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There are many text books about engineering design and some include project evaluation techniques. There are text books on accounting methods and yet others on business management. This book does not aim to replace these specialized texts but brings together the elements of these subjects that young engineers working in industry – particularly the construction industry and its customers – need to understand.

Most engineers learn about money the hard way: by experience in the workplace. The authors having done this themselves recognized the gap in engineers’ education and set out to bridge it. This book is based on a 1996 course George Solt pioneered for final-year engineering undergraduates. The book is written in an approachable style and gives young engineers as well as mature engineers an insight into the way engineering businesses run, the importance of capital and the problems of cash flow.

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Editorial Reviews

From the Publisher
"Engineering Money is an excellent book for an undergraduate course dealing with return on investment issues for any contracted project, but particularly for engineering projects. The one-liner summary items would provide excellent starting points for a spirited class discussion. Highly recommended. Lower-and-upper division undergraduates." (Choice , 1 April 2011)
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Product Details

  • ISBN-13: 9780470546017
  • Publisher: Wiley
  • Publication date: 9/22/2010
  • Edition description: New Edition
  • Edition number: 1
  • Pages: 196
  • Sales rank: 1,548,203
  • Product dimensions: 6.10 (w) x 9.10 (h) x 0.60 (d)

Meet the Author

RICHARD HILL worked for twenty years in design and proposals in the contracting industry and served as marketing director for a specialist process plant contractor. He now runs his own independent consultancy and lectures at Cranfield University, University College London, and UNESCO-IHE in Delft, Holland.

GEORGE SOLT spent thirty years in industrial research and development serving as technical director in two-specialist process plant contracting companies before becoming a full-time academic at Cranfield University and University College London.

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Table of Contents


Chapter 1 What's It All About? 1

Chapter 2 Money 8

Chapter 3 Measuring Money 17

Chapter 4 How Things Can Go Wrong---1 22

Chapter 5 Good Company 24

Chapter 6 Capital 33

Chapter 7 The Year's Business Plan 40

Chapter 8 How Not to Go Bust 46

Chapter 9 Cash Flow 49

Chapter 10 What's a Contract? 59

Chapter 11 Conditions of Contract 66

Chapter 12 How Things Can Go Wrong---2 74

Chapter 13 Cost Centers 77

Chapter 14 Pricing Contracts 82

Chapter 15 Competitive Tendering 89

Chapter 16 How Things Can Go Wrong---3 95

Chapter 17 Other Types of Contracts 99

Chapter 18 Terms of Payment 106

Chapter 19 How Things Can Go Wrong---4 111

Chapter 20 Planning Contract Execution 114

Chapter 21 Procurement and Monitoring 119

Chapter 22 Paying and Getting Paid 124

Chapter 23 Consultants 130

Chapter 24 Using Your Judgment 138

Chapter 25 Health and Safety Aspects of Design 148

Chapter 26 Green Engineering and Greenbacks 152

Chapter 27 Research and Development 155

Chapter 28 The Love of Money 160

Chapter 29 Last Words 165

Appendix 1 Financial Accounts 167

Appendix 2 Critical Path Analysis 174

Appendix 3 Project Evaluation Techniques 178

Index 185

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