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CE40128: Engineering project management and economics

Follow this link for further information on academic years Academic Year: 2019/0
Further information on owning departmentsOwning Department/School: Department of Chemical Engineering
Further information on credits Credits: 6      [equivalent to 12 CATS credits]
Further information on notional study hours Notional Study Hours: 120
Further information on unit levels Level: Masters UG & PG (FHEQ level 7)
Further information on teaching periods Period:
Semester 1
Further information on unit assessment Assessment Summary: EX 100%
Further information on unit assessment Assessment Detail:
  • Examination (EX 100%)
Further information on supplementary assessment Supplementary Assessment:
Like-for-like reassessment (where allowed by programme regulations)
Further information on requisites Requisites:
Further information on descriptions Description: Aims:
To provide an introduction to the business environment in which chemical engineers work, along with economic parameters and methods for evaluating the costs and profitability of engineering projects within the legal framework.

Learning Outcomes:
After successfully completing this unit students should be able to:
* Evaluate the performance of a company;
* Explain the role of the financial climate in determining business performance;
* Make quick engineering estimates of chemical process plant capital and operating costs;
* Determine the profitability of simple projects using traditional and cash flow techniques.

Analysis [T,F,A]
Problem solving [T,F,A]


* Introduction to macro and microeconomics,
* Financial state of the UK and world economy, the economic cycle, economic indicators,
* Classes of company structure,
* Sources of investment capital,
* Entrepreneurship - starting and running a small business,
* Corporate Responsibility,
* Risk Management,
* Capital cost estimation: short-cut methods e.g. ratio methods, use of cost indices, factored estimates, introduction to detailed cost estimation;
* Manufacturing cost estimation: short-cut methods;
* Interest relationships, discount formulas;
* Profit and cash flow relationships; payback period;
* Contribution and variable costing, breakeven production diagrams;
* Basis for rate of return concept, minimum acceptable rate of return, risk factor;
* Profitability methods based on cash flow, cumulative cash flow curves, determination of NPV, DCF rate of return, EMIP, IRR, discounted breakeven point;
* Optimal costing methods, incremental costs and profitability.
Further information on programme availabilityProgramme availability:

CE40128 is Compulsory on the following programmes:

Department of Chemical Engineering
  • UECE-AFB05 : BEng(Hons) Chemical Engineering (Year 3)
  • UECE-AKB05 : BEng(Hons) Chemical Engineering with Year long work placement (Year 4)
  • UECE-AFM01 : MEng(Hons) Biochemical Engineering (Year 3)
  • UECE-AKM01 : MEng(Hons) Biochemical Engineering with Year long work placement (Year 3)
  • UECE-AFM05 : MEng(Hons) Chemical Engineering (Year 3)
  • UECE-AKM05 : MEng(Hons) Chemical Engineering with Year long work placement (Year 3)