Week 1: Introduction to Engineering Economy & Software Projects

Описание: In this lecture, we introduce the fundamental principles of Engineering Economics and explain how economic thinking supports decision-making in Software Project Management.

This session covers:

✔ What is Engineering Economics?
✔ Why Software Engineers must understand economic analysis
✔ Software projects as financial investments
✔ Cost concepts in software development
✔ Economic feasibility in project initiation
✔ The relationship between cost, time, and scope
✔ Introduction to lifecycle costing in software systems

Engineering decisions are not only technical — they are economic. This lecture explains how engineers evaluate costs, benefits, and long-term value before approving or initiating software projects.

🎯 Learning Outcomes

By the end of this lecture, students will be able to:

• Understand the role of economic analysis in software projects
• Identify different types of costs in IT systems
• Explain why the time value of money matters
• Connect engineering decisions with financial impact

📚 Course Context

This lecture integrates concepts from:

Engineering Economics (17th Edition)

Software Project Management: A Process-Driven Approach

Designed for 2nd Year Software Engineering students. ‪@muhammadmuhammadinuwa8499‬

#EngineeringEconomics #SoftwareProjectManagement #SoftwareEngineering #EconomicAnalysis #UniversityLecture #CostAnalysis #TimeValueOfMoney