Economic issues relevant to BME 272/273

All projects must include, at a minimum:

• market analysis (who, how many, why, ...)
• development cost analysis (2 students @ $15/hour, 400 hours, parts, ...)
• benefit analysis (1 year life @$50k or 10% increase in revenues...)
• benefit/cost calculation (if possible)
• cost of maintenance
• overhead analysis, marketing distribution costs
• life cycle
• safety analysis and risk/benefit considerations
• FDA, animal & human welfare considerations

P. King, 9/99