Engineering Economics Flashcards

What is the fundamental principle behind engineering economics in the NCEES domain?

Answer: Balancing performance, reliability, and efficiency

Effective technical design requires balancing performance requirements with reliability needs and operational efficiency.

Which approach is recommended for troubleshooting engineering economics issues?

Answer: Use systematic isolation and testing methods

Systematic isolation and testing methodically narrows down the root cause, making troubleshooting efficient and accurate.

What is the primary consideration when implementing changes to engineering economics?

Answer: Impact assessment and change management

Impact assessment and proper change management ensure that modifications do not introduce unexpected problems or service disruptions.

In NCEES certification, what does redundancy in system design primarily provide?

Answer: Fault tolerance and high availability

Redundancy provides fault tolerance by ensuring that if one component fails, backup components maintain system availability.

Which documentation is essential when working with engineering economics in NCEES?

Answer: Detailed technical specifications and as-built diagrams

Detailed technical specifications and as-built diagrams provide the accurate reference information needed for maintenance and troubleshooting.

What is the best practice for maintaining engineering economics performance over time?

Answer: Implement scheduled preventive maintenance

Scheduled preventive maintenance catches potential issues before they cause failures, maintaining reliability and extending equipment life.