360 pages | 78 B/W Illus.
It is no longer acceptable for utility engineers to make spending decisions solely because they make good engineering sense. In today’s environment, they must also demonstrate solid business acumen and show that recommendations make good business sense. With this goal in mind, Business Essentials for Utility Engineers systematically presents each business topic to arm engineers with the tools and vocabulary necessary to be more effective when interacting with senior management, and for promotion to senior management.
This book covers all business concepts important to utility engineers, including regulation, ratemaking, accounting, finance, risk management, economics, budgeting, and asset management. The author applies his vast corporate experience to give readers a solid foundation for business theory, discussing the idiosyncrasies of utilities and using advanced mathematics to demonstrate business concepts. He also explains how to properly apply this theory to utilities, expounding on specific business skills that will greatly benefit utility engineers in their daily jobs.
Chapters are organized to build sequentially upon each other, and take advantage of the mathematical sophistication and deductive nature of engineers when presenting material. After reading this book, utility engineers will view their industry from a new perspective, and will have a greatly expanded business vocabulary. Suitable for self-study, undergraduate study, graduate study, or as a desk reference, this book provides a robust framework for correct business thinking and a solid foundation for further learning.
WAtch Richard E. Brown talk about his book at: http://youtu.be/gdyjq77nQFI
… The author does excellent work in organizing, describing, and explaining the business concepts. All concepts are clearly and accurately explained, and the material is presented at an appropriate level of complexity and depth … informative and valuable as a reference book. I recommend the book to any utility engineer responsible for planning, designing, managing, or maintaining utility infrastructure.
--Robert E. Bisson, IEEE Power & Energy Magazine
Types of Utilities
The Basic Accounting Equation
Journals, Ledgers, and Accounts Accounting Principles
Other Types of Accounting
Supply and Demand
Time Value of Money
Probability and Statistics
Stock Price Movement
Capital Asset Pricing Model
Residual Income and EVA
Revenue Requirements and the Rate Base
Rate Base Misconceptions
Types of Budgets
Business Case Justification
What Is Asset Management?
History of Utilities
History of Asset Management
Asset Management Process
Each chapter concludes with a "Summary" and "Study Questions"