APS-610 Cost Estimation and Financial Management For Engineers and Technologists
Decisions on large and small programs, whether in government or industry, always have a financial component and financial impacts. This course will provide students with an understanding of the financial aspects of decision making. The focus will be on the application of cost estimates and cost benefit analyses to program and financial management, budget preparation and justification, the understanding and use of financial statements, and program control. In addition, the course will help participants to become informed consumers of cost estimates and cost benefit analyses. Being informed includes evaluating the strengths and weaknesses of the cost-benefit analysis approach as well as the role of risk and uncertainty, comprehending sensitivity analysis, and knowing the right questions to ask when the individual is the recipient of a cost-benefit analysis.