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What are the advantages and disadvantages of performing an engineering economic analysis? What are some of the challenges and issues that might be encountered during the process of performing such an analysis?

The Book that I am using Project Management Process Methodologies, and economics 2nd editions.

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What are the advantages and disadvantages of performing an engineering economic analysis? What are some of the challenges and issues that might be encountered during the process of performing such an analysis?
The advantages of performing Engineering economic analysis are projects are selected on the basis of economic justification. The fact that economic information about the project is that it is analyzed and a decision is reached keeping in mind the economic criteria. The advantage in this is that the project which is best from the perspective of economic criteria like profitability and return on investment are selected. The other advantages of performing engineering economic analysis is that the project engineers understand the important of economic, financial, and business issues involved in the project. Further, if engineering economic analysis is performed by the key people in the project there is greater chance that the ...

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