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Engineering Economy Division

Message from the President

For the upcoming year, the EED aims to continue to be your world-renowned, preferred knowledge society for engineering economy and transformation for practitioners and academics. We will launch a new award to promote engineering economic analysis in undergraduate senior designs and have our third-year Best Engineering Economy Teaching Award. In addition, we are planning several webinars. To make our division the best, we need volunteers from our members, especially from the industry and students. If you are interested, please contact me at

2016 Town-hall Meeting at-a-Glance  

The Division had its town-hall meeting as part of the IISE Annual Conference and Exposition on May 22nd, 2016 in Anaheim, California.

The division membership (as of April 2016) was 3,575 total members; the sixth largest division within IISE (of 12 divisions).  The membership includes 2,387 students, 752 industry professionals, 435 academic professionals, and 1 administrative member. Membership in the division decreased from 3,706 in April 2015. Division membership is free for all paid members of IISE and is an option for an individual’s membership record, IISE members can join as many divisions as they choose.

The score card for the division was presented and discussed by those in attendance.  The score card is an internal IISE mechanism that reflects the Division’s health. It includes points for increasing membership and other activities within the Division. In 2015 – 2016 the Division did publish two newsletters, shared documents via Dropbox, and the Division leadership held quarterly teleconference meetings. As discussed during the Division Vision and Mission portion of the meeting, strategical ideas to increase the health of the division were discussed.

The 2016 program included 7 paper/presentation sessions, 25 presentations, and 13 proceedings papers. The number of abstracts, research sessions, presentations, and submitted papers were up from 2015. The number of published proceedings papers remained the same.  Chin Hon Tan (National University of Singapore) managed a special session on Economic Decisions in Future Cities.

Awards were announced in the meeting (see 2016 Engineering Economy Division Awards).

The 2015 – 2016 leadership and volunteers were thanked for their service and presented with certificates.

2016 Awards - Nominate Now!

Engineering Economy Wellington Award
The Wellington Award recognizes outstanding contributions in the field of engineering economy. The award is named after Arthur M. Wellington, author of The Economic Theory of Railroad Location, in 1887.

Engineering Economy Teaching Award 
This award is to recognize and promote the outstanding teaching of Engineering Economy.

Undergraduate Senior Engineering Economy Award
This award recognizes the outstanding application of engineering economy in a senior design project for an undergraduate student or undergraduate student team.

Submit an Article

We are continuously looking for new material to provide to our members. If you would like to contribute and want your article to be published in our newsletter, please submit your article to Omar Ashour, communications director of the EED Newsletter.

The article should be 2-3 pages, single-spaced, 12-point and in MS Word format. Images and figures should be sent as a JPEG format. Please include a small biography and contact information.

About the Division

Engineering Economy Division (EED) is part of the IISE. EED supports the mission of the institute, brings together members who are interested in all aspects related to engineering economy, provides member value, and promote the discipline. It also provides means to promote excellence in teaching and research for engineering economy. Focus areas include (but not limited to) asset management, capital investment analysis, financial engineering, cost/benefit analysis, prices and portfolios, real options, life-cycle cost assessment/management, energy and engineering economy, value chain management, technology replacement management, and engineering economy education. Members receive Engineering Economy Solutions, a periodic electronic newsletter containing information on important new cost reduction techniques.

The division hosts three annual awards: Engineering economy Wellington award, teaching award, undergraduate senior award, and best paper award.

Division Leadership 

Join us!

If you are not a current member of the division, please join us! We are an active group with a dedicated leadership board and welcome your input. For more information, visit our website or log in here to join the division.

Volunteers are welcome for various division activities. Please contact Guiping Hu to express your interest.

Division Bylaws updated

The updated division bylaws were approved by the Engineering Economy Professional members on April 26, 2011. To view the division bylaws, click here.