ECON

an equipment replacement analysis system

Article Resource Management June 1992

Project Management Journal

Tavakoli, Amir

How to cite this article:

Tavakoli, A. (1992). ECON: an equipment replacement analysis system. Project Management Journal, 23(2), 37–41.
The equipment used in construction projects make up a large part of the project budget.Replacing equipment is a decision with major implications in the overall project investment.The equipment replacement analysis system, ECON, was developed to help the project manager make the best decisions regarding equipment replacement.ECON consists of two modules: the economic life analysis module and the replacement life analysis module.The economic life analysis module determines the economic life of future replacements, also called challengers.The replacement life analysis module determines when to most effectively and profitably replace the existing equipment, called the defender, with the challenger.The ECON system is written in BASIC language and runs on IBM PC compatible computers.
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