Two hours lecture, three hours laboratory per week. Topics are treated from the viewpoint of profit, cost control, client satisfaction, and project team human relations. This course also covers delegation, motivation, team building, performance reviews, conflict resolution, and group dynamics. The project manager s job from an augmented model of the Blake-Mouton grid is also presented. The elements of the accounting circle are defined, from the balance sheet for the last period through the journal, ledger, income statement, trial balance and adjusted balance for the current period.
Heavy emphasis is placed on the definition and significance of accounting terminology.
The communication interfaces between engineering managers and the controller s office are examined as recent developments in cost accounting. This course provides a study of the economic feasibility of competing engineering projects, including the application of break-even analysis, decisions under uncertainty, decision trees, stochastic models, risk vs. return, and forecasting. Also presented are the financial figures of merit used to evaluate competing engineering projects, including Dupont rate of return method, accounting rate of return, operating return method, return on equity, earnings per share, margin on sales, selling price of stock, corporate credit rating, total sales market share, market entry, and pro forma year-end statements. The strategic evaluation of a project, including the proposed product or service, organization, environment, and venture in general are also discussed. Students will develop a group marketing plan for an agreed-upon product.