Cost Overruns

It might not sound like an elegant topic, but cost engineering and the mechanics of business are some of the most important aspects of efficiency in finance. Marx and Smith, founders of principles of economics in very different respects, would both agree that the driving force behind an economy is the production of efficient firms. It is interesting to note that over 60% of the expense of mining globally is an overrun on the cost. Capital is wasted. In addition, more than $400 billion worth of food is wasted in the US annually. This is over 130 billion pounds, or roughly 30% to 40% of the US food supply. With adequate logistics, cost engineering from General Physics, and sound financial practices, more efficient models can develop.