Engineering Economics Revision Article Series
Replacement refers to a broad concept embracing the selection of similar but new assets to replace existing assets as well as selection of entirely different ways to perform the function supported by the earlier asset.
Replacement decisions are a choice between the present asset, called defender and currently available alternatives termed as challengers.
Varieties of Replacement Necessity
Replacement due to deterioration
Replacement due to obsolescence
Replacement due to inadequacy
References
Engineering Economics, 4th Edition, James L. Riggs, David D. Bedworth, and Sabah U. Randhawa, McGraw Hill, New York, 1996
Online Material
Automobile replacement case studies for engineering economy classes
Engineering Economist, The, Spring 1998 by Hartman, Joseph C
http://findarticles.com/p/articles/mi_qa3621/is_199804/ai_n8801745
http://www.ise.ufl.edu/ein4354/Downloads/ch13/Ch13.ppt
Originally published in
http://knol.google.com/k/narayana-rao/replacement-analysis/2utb2lsm2k7a/ 254#
Replacement refers to a broad concept embracing the selection of similar but new assets to replace existing assets as well as selection of entirely different ways to perform the function supported by the earlier asset.
Replacement decisions are a choice between the present asset, called defender and currently available alternatives termed as challengers.
Varieties of Replacement Necessity
Replacement due to deterioration
Replacement due to obsolescence
Replacement due to inadequacy
References
Engineering Economics, 4th Edition, James L. Riggs, David D. Bedworth, and Sabah U. Randhawa, McGraw Hill, New York, 1996
Online Material
Automobile replacement case studies for engineering economy classes
Engineering Economist, The, Spring 1998 by Hartman, Joseph C
http://findarticles.com/p/articles/mi_qa3621/is_199804/ai_n8801745
http://www.ise.ufl.edu/ein4354/Downloads/ch13/Ch13.ppt
Originally published in
http://knol.google.com/k/narayana-rao/replacement-analysis/2utb2lsm2k7a/ 254#
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