A Reflection Note on Applying Quantitative Decision-Making Approaches to Engineering Management

Abstract

Engineering management is a project management activity full of information composed of specific engineering technology and different social factors. The basic knowledge of quantitative decision-making technology and management economics is conducive to project decision-making, project investment, financing in engineering construction, and real estate. With the development of modern engineering management, quantitative decision-making has become increasingly important. This article discusses quantitative decision-making's significance, importance, and potential limitations in engineering management activities. Different quantitative decision tools have other effects on engineering management and technical management. This article also suggests that effective engineering management needs to combine scientific quantitative analysis methods and quantitative decision-making tools and comprehensively consider the engineering implementation background, the project's technical requirements, and resource sources.