Principal-Agency Issues and the Engineer-Manager

PDHengineer
Training overview
Professional Course
Self-paced Online
2 hours
From 59.90 USD
Start dates
Online
59.90 USD
Start anytime!
engineer in tunnel

Course description

In Principal-Agency Issues and the Engineer-Manager, you'll learn ...

  • Identify where the Principal-Agent problem exists
  • Identify where and when moral hazards exist
  • Define Utility Theory and marginal utility of individuals, corporations and governmental bodies
  • Using marginal utilities as it applies to decision-making

Overview

Credit: 2 PDH

Length: 34 pages

Agency theory applies to all aspects of the licensed professional engineer in describing that person’s motivation, their interaction with other engineers and other disciplines, and in dealing with external non-engineer decision makers such as political office-holders. The course applies centuries-old theories developed in economics and finance and behavioral sciences, which are still relevant today.

Applications of Agency Theory cover individual, managerial and employee work performances, partnering issues, and contract negotiations. Economic topics such as Moral Hazard, Utility Theory, Game Theory and Agency Theory will be described independently then interwoven into how professional behavior and management techniques utilize contracts to achieve mutually beneficial goals. Rarely does an engineering education include these topics yet Agency Theory is considered one of the most critical concepts in both personal and professional lives.

Want to find out more?

Who should attend?

Certificate of Completion

You will be able to immediately print a certificate of completion after passing a multiple-choice quiz consisting of 25 questions. PDH credits are not awarded until the course is completed and quiz is passed.

Training content

This course teaches the following specific knowledge and skills:

  • Identify where the Principal-Agent problem exists
  • Identify where and when moral hazards exist
  • Define Utility Theory and marginal utility of individuals, corporations and governmental bodies
  • Using marginal utilities as it applies to decision-making
  • Learn to develop First and Second Best Solutions
  • Identify the differences between price and value
  • Define asymmetric information and how to address contracts when asymmetric information is apparent
  • Define survival bias and why some industries don’t act in the best interest of their customers
  • How monitoring costs affect contract structure including contract enforcement
  • Realize the total costs of the Principal-Agent problem for individuals, corporations and society at large

Costs

This course costs $ - Contact PDHengineer to learn about discounts and upcoming offers

Why choose PDHengineer?

 Trusted by over 60,000 engineers to meet PDH requirements

Earn reward tokens with each course purchase

Triple guarantee that courses will be accepted by your state licensing board

About PDHengineer

Professional Engineers have trusted PDHengineer to provide high-quality PDH courses since 2003. A large library of PDH courses and live, interactive webinars means that engineers can find PDH course material covering all of the major engineering disciplines. Plus, all PDHengineer...


Read more and show all training delivered by this supplier

Contact this provider

Before we redirect you to the course sign-up page, do you mind filling out this form so that we can stay in touch? You can unsubscribe at any time.

Country *

Contact info

PDHengineer

7915 FM 1960 West, Suite 130
77070 Houston Texas

 Show phone number
https://www.pdhengineer.com/

Learn more!

Before we redirect you to the course sign-up page, do you mind filling out this form so that we can stay in touch? You can unsubscribe at any time.

View again
Supplier Directory
Join our Supplier Directory to:
- Gain Traffic
- Get Noticed
- Showcase Your Services
- Free Listing Available