Integrating Cost Engineering and Project Management in a Junior Engineering Economics Course and a Senior Capstone Project Design Course

Much criticism exists concerning a lack of focus on real-world problem-solving in the science, technology, engineering and mathematics (STEM) infrastructures. Many of these critics say that current educational infrastructures are incapable in preparing future scientists and engineers to solve the complex and multidisciplinary problems this society will face. Engineers must be trained to meet these challenges by incorporating a combination of learning paradigms to solve real-world, multidisciplinary, multifaceted problems. To assist in understanding how to solve these problems, Cost Engineering and Analysis and Project Management knowledge, integrated into an undergraduate Engineering Economy Course will provide students with additional knowledge necessary to produce quality Capstone design projects and obtain useful skills for today's engineering work environment. The content was designed as additional content embedded into the Engineering Economy course to introduce students to Cost Engineering and Analysis and Project Management. The method of introduction was through instruction, case studies, and ultimately application into a final group project that mimics the thought process of the Capstone experience and then, further used as a holistic approach to Capstone design projects. Integrating Cost Engineering and Project Management into an undergraduate Engineering Economy course proves to be a valuable addition to the engineering curriculum. This supplemental knowledge provides matriculating students with the skills necessary to successfully manage Capstone design projects and prepares them for project management activities in the real world. Background Much criticism exists concerning a lack of focus on real-world problem-solving in the science, technology, engineering and mathematics (STEM) infrastructures. Many of these critics say that current educational infrastructures are incapable in preparing future scientists and engineers to solve the complex and multidisciplinary problems this society will face (Committee on Science Engineering and Public Policy, 2006; National Academy of Engineering (NAE), 2005; National Science Foundation, 1996). No longer are engineers able to simply be trained to understand the technical concepts in specific disciplines, but training must incorporate a combination of learning paradigms to assist engineers in solving real-world, multidisciplinary, multifaceted problems. In 2008, cost estimators held about 217,800 jobs in which 59 percent were in the construction industry and another 15 percent in manufacturing. They are usually in or near major industrial, commercial, and government centers in areas experiencing rapid developmental changes (Occupation Outlook Handbook, 2010). Employment of individuals with cost estimating knowledge is expected to grow by 25 percent between 2008 and 2018, which, compared to all occupations, is faster than average. This increase can directly be attributed to growth in the construction and repair of highways, streets, bridges, subway systems, airports, water and sewage systems, and electric power plants and transmission lines. Purpose This paper describes how the concepts of Cost Engineering and Analysis and Project Management were integrated into an Engineering Economics Course and a Senior Capstone Project Design Course necessary for undergraduate degree requirements for civil engineering students. The content was designed to introduce students to Cost Engineering and Analysis through instruction and ultimately assist in the application of integrating cost estimating and analysis and project management into a final group project. Because the concepts of cost analysis and project management is new to the civil engineering curriculum, but necessary for engineers working in the real world, the goal was to teach the concept during the engineering economics course and allow the knowledge to carryover for application on Capstone projects. …