Exam

Report

Innovation and decision making: Technical and social systems. Technology learning. Business case models. Technical readiness assessment, product life cycle assessment, product costs. Modelling supply and demand. Systems modelling and simulation (Systems Dynamics, Monte Carlo simulation). 
 Financial appraisal: Conventional costing, throughput accounting, investment appraisal - Net Present Value (NPV), Internal Rate of Return (IRR). Economic appraisal: Economic assessment including environmental and social costs and benefits. Sensitivity analysis. 
 Project management life cycle. Project scope. Project planning to achieve cost, time, and quality objectives. Network techniques and the use of Gantt charts. Project execution. Quality systems and risk management. 
 Introduction to the law, sources of law, courts of the UK, statutory interpretation, precedent. Principles of contract law, contract law in engineering practice, IMechE/IET Model forms of contract. Fundamental principles of intellectual property law for engineers.

Industrial Management - 6557USST

Industrial Management

Design a viable plan to organise and control the implementation of a project.

Explain the fundamental principles or intellectual property and contract law.

Undertake a technical and economic assessment of a product/project.