A problem-oriented language for engineering economic analysis



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There are great number of problems in business and. engineering administration in which management must select one of a number of investment alternatives. Each of these alternatives is usually characterized, by a unique combination of capital costs, revenues, and. operating expenditures. The task is to select the alternative which will generate the most economical of these combinations. A problem-oriented language for general engineering economic analysis problems has been developed to do the above task. The economic analysis in this context includes the comparison of engineering alternatives, the break-even and minimum cost analyses, and the evaluation of replacements. The language is structured so that changing of informations can be accomplished with a minimum of effort at any stage. It permits a user to use a conversational language and write his program on line. Any programming error (or result) is immediately reported by the computer, thus helping the user in planning his next step. The language is coded in FORTRAN IV and hence is machine independent. The language may be utilized in either an interactive or batch environment.