Course Description
This training course provides the tools to evaluate engineering and maintenance projects on both economic and technical grounds, enabling professionals to make sound investment and maintenance decisions.
It combines engineering economics with maintenance decision-making, covering life-cycle costing, equipment replacement analysis, and the financial justification of maintenance and reliability investments. The course equips engineers and maintenance professionals to build the business case for technical projects and communicate value to management.
What you will achieve
By the end of this training course, participants will be able to:
- Apply engineering economics to evaluate technical projects
- Perform life-cycle cost analysis
- Conduct equipment replacement and repair-versus-replace analysis
- Justify maintenance and reliability investments financially
- Apply time value of money to engineering decisions
- Assess risk and uncertainty in technical evaluations
- Communicate the economic value of engineering projects to management
How the course is delivered
The course combines engineering economics theory with practical maintenance decision-making, using worked examples, case studies, and group exercises. Participants apply evaluation techniques to realistic engineering and maintenance scenarios.
On successful completion, an BII Research Certificate with CPE credits is awarded.
Designed for
This training course is ideal for:
- Maintenance and reliability engineers
- Engineering and asset managers
- Plant and facility engineers
- Project engineers evaluating capital decisions
- Technical professionals building investment business cases
Daily programme
- Principles of engineering economics
- Time value of money
- Cash flow analysis
- Interest and discount rates
- Net present value and internal rate of return
- Payback and profitability analysis
- Comparing engineering alternatives
- Sensitivity analysis
- Life-cycle cost analysis
- Total cost of ownership
- Operating and maintenance cost modelling
- Asset life estimation
- Repair versus replace analysis
- Equipment replacement timing
- Optimising maintenance and replacement decisions
- Risk and uncertainty in evaluations
- Building the business case
- Financial justification of reliability investments
- Communicating value to management
- Course review and case studies
Certification & accreditation
BII Certificate of Completion
BII Certificate of Completion Upon successful completion, participants receive a BII Development Institute Certificate of Completion with a unique reference code that is independently verifiable. Our certificates are recognised internationally and reflect successful completion of your chosen programme.
