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 Academic Year: | 2018/9 |
| Owning Department/School: | Department of Mechanical Engineering |
| Credits: | 6 [equivalent to 12 CATS credits] |
| Notional Study Hours: | 120 |
| Level: | Masters UG & PG (FHEQ level 7) |
| Period: |
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| Assessment Summary: | CW 100% |
| Assessment Detail: |
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| Supplementary Assessment: |
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| Requisites: | |
| Description:
| Aims: The aim of this unit is to equip students with some key skills they need to manage engineering projects to improve revenue and reduce costs; in other words, to maximize value. Learning Outcomes: After successfully completing this unit, students will be able to: * Define sustainable value, both in financial and wider (societal) terms. * Identify and analyse a market for a given product or service. * Define and critique appropriate techniques that can be used to estimate sustainable value, including but not limited to those based on traditional business economics and costing models. * Evaluate engineering products and services in terms of sustainable value, considering both revenue and cost, taking account of industry structure and competitor dynamics. Skills: * critical awareness of current issues and frameworks (T, A) * linking theory and practice meaningfully (T and A) * Showing how engineering management can make a meaningful contribution to a contemporary business or societal issue, recognising the relationships between engineering management and wider considerations of strategy, policy and society (T, F, A) * an ability to conduct in-depth research into value creation. (F and A) * an ability to manage and work in teams with an awareness of issues such as culture, gender, working styles etc. and to use these to the benefit of the individual and the team (F and A) * the facility to communicate including presenting and marketing themselves and their ideas; preparation and production of effective business plans and reports.(F and A) Content: * Some familiarity with these topics is assumed but a refresher will be provided, together with some novel perspectives: - Business Economics: eg supply demand, elasticity, financial markets. - Project Accounting topics: eg Cost cash flow, ROI, NPV, resource planning . - Marketing concepts: eg Price, the marketing mix, advertising, promotion, budgets. - Operations concepts eg: TQM, change management, BPR, SPC and other initiatives. - Strategy - Missions, objectives, internal and external analysis, options, implementation. * Cost estimating -quantitative and qualitative * Corporate Social Responsibility - the wider concept of sustainable value. * Industrial case studies, introducing exemplar products and the approach to sustainable value. |
| Programme availability: |
ME50361 is Compulsory on the following programmes:Department of Mechanical Engineering
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Notes:
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