AlgebraThe engineering economic principles that would be applied
7 months ago
The engineering economic principles that would be applied in analyzing the application and which measures would be the most effective for the public audience. The important measures and metrics used to describe them may be considered "Key performance indicatirs.
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Best Answer
amosleetourmerchandise Staff answered 7 months ago
The engineering economic principles that would be applied in analyzing the economic analysis in public sector are as follows:
1. Benefit-Cost analysis: this is used widely in public sector. I this analysis we study the nature of the project: Built-operate-transfer mechanism is used. Then we analyze the objectives in the public project evaluation and various guidelines used. Then we see the benefit-cost and cost-effectiveness calculations. And finally we see the various important considerations in evaluating the public projects.
2. Revenue requirement analysis.
The measures that would be most effective for the public audience are as follows:
1. Identify the investment alternatives available in public sector.
2. Define the planning horizon for the study of benefit and cost.
3. Discount rate needs to be specified.
4. Estimate the cash flows i.e estimating the benefits and cost in monetary terms.
5. Compare the various alternatives.
6. Then we have to perform the supplementary analyses.
7. Select the preferred alternative.
All the above important measures and metrics used to describe may be considered as ""Key performance indicators"".
Conclusion:
So, All the above important measures and metrics used to describe may be considered as ""Key performance indicators""
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