We all know that we cannot plan for every possible event in our future. However, you are going to develop an experimental plan for the first 10 years of your life folloving xraduation really happen in the future may or may not work out as planned, but at least you can think about this as an interesting real-world application of Engineering Economy for the purpose of this project How things There are two major parts of this project. The FIRST part of the project involves simply documenting year-by-year events that you think have a high probability of occurrence in your life. Consider at least two potential life paths of the first 10 years following graduation. For example, at year 0 (immediately following graduation), perhaps you will enter the engineering workforce, or maybe you are planning to attend graduate school immediately following your graduation, or maybe you are thinking of delaying entry into the engineering workforce by a few years to join the Peace Corps. Are you thinking of graduate school later while working?
Many engineers decide to obtain additional education in their field or at least attend short courses in topical areas from time to time to stay current. Do you plan to buy a house? How often will you buy a car? What about a car for the kids?
What about a vacation home or a boat? Will you apply for your Professional Engineering license?
How many children will you lave and when? Do you anticipate caring for an elderly relative? There are many, many questions to think about over the next 10 years. involves computing the net present value (NPV) for your plan and discussing what conclusion(s) you have reached You can be creative - this is not meant to be a hard and fast plan. The SECOND part of the project as a result of the project. For the purpose of financial calculations, you need to be as realisti of salary increases, including big jumps when completing additional education (like a Masters or PhD) obtained from the library and the internet.