Study Guide

Objective

After passing the course the student is expected to:
- be able to identify, describe and indicate central terminology in the subject area
- be able to relate to the importance of a good operating and process economy in the industrial context and for private entrepreneurs vis-à-vis profitability and
continuity aspect
- be able to relate to, explain and take a position on what an efficient and disruption-free process means compared to disruptions, unsafe operation, service interruption
- be able to perform simple operational and process-based calculations where the relationship between inefficiency and profitability is compared to efficiency, and
profitability
- be able to perform, explain and present calculations where performance, efficiency, savings and non-revenue are compared to, for example,
downtime, bottlenecks / narrow section, lying on dry dock, waiting times, delays, actual complaints, fines, trials and badwill

Content

- concepts and terminology in business and process economics
- on transactions, activities, processes in various industries also related to small-scale entrepreneurship
- input data for calculations
- the calculation approach in the interaction; input data, calculations, tools and interpretation of results
- short-term profitability, long-term profitability, key ratios
- on possible development measures for continuous improvement
- possible interventions such as new and / or replacement investments, innovative ways of working, simplifications and realizing which variables
really explains more and who explains less in an operational and process economics context
- artificial intelligence and machine learning to support decision-making - opportunities and virtually impossible

Evaluation scale

H-5

Assessment criteria, satisfactory (1)

Justifiable; The student describes theory formation and concepts partially flawed both in the exam, exercise assignments and in project calculations.
They do not use theory and concepts as well as mathematical derivations, formulas and tables correctly, to some parts, which gives incorrect calculation results for comparison, defense, decision and proof.

Assessment criteria, good (3)

Good; The student uses theory formation and concepts in the exam, in exercises and in connection with project calculation assignments almost correctly. Calculations, comparisons, defenses and evidence have a good theoretical basis for application in practice.

Qualifications

- Business Economics, Mechanical Engineering, Basic Studies I, 2 and 3, Cost and Investment Calculation and Advanced Cost and Investment Calculation