Dean's Axioms of Engineering Economics

• A system contains
  • hardware
  • software
  • people
  • processes
  • information
  • organization
  • structure
  • synchronization
  • function and
  • behavior
• Hardware engineers build hardware
• Software engineers build software
• The customer buys the value imparted by a system
• When I purchase a system, my cost is your sale price
• The asked price of the system may have little to do with the cost of the system
• The system costs nothing, it is the genopersistation of the system which costs.

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