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Identifying solutions to a need, challenge, or market opportunity: Engineering Cost and Management Accounting Course Work, QMUL, UK
| University | Queen Mary University of London (QMUL) |
| Subject | Engineering Cost and Management Accounting Assignment |
Introduction
Welcome to the Engineering Cost and Management Accounting module. This module covers two core tasks at the heart of nearly all engineering problems in industry
1. Identifying solutions to a need, challenge, or market opportunity.
2. Bringing those solutions to the right market, at the right price, and at the right time.
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Another key focus of the module is the recognition that solving the tasks above requires an understanding of the social, legal, technical or environmental framework of the proposed solution. It is not enough to bring any solution to market: any product has to fit within the appropriate regulatory framework. In addition, we also recognise that solutions should (and increasingly must) be sustainable.
Sustainable design goes beyond the immediate needs of the market to look for (World Commission on Environment & Future, 1987) Development that meets the needs of the present without compromising the ability of future generations to meet their own needs Underpinning all of the work on sustainability, both the articulation of the problems and the potential solutions, will be the key resource: the academic and technical literature.
In this module you will have the opportunity to use your own expertise to look at the solutions to a problem that requires a broad understanding of multiple disciplines, and work towards a potential solutions.
Your goal will then be to present that solution to a wider audience in the form of a technical review, and so begin the first stage of developing appropriate solutions.
That technical review will be based on a literature survey of the problem, and then show your own technical analysis to arrive at potential solutions. We will not implement those solutions in this module: but your analysis should provide a clear view of why, and how, those chosen solutions chould be implemented to address the problem presented.
From the technical review, we will also develop a pitch deck which summarises the business case for bringing your chosen solution to the market. Together both the technical review and the pitch deck summarise for investors (both internal and potentially external) what a solution might look like, the technical risks and oppertunities, and the potential returns together with the investment required.
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