The assignment question is provided in the pdf file. It is based on engineering management.

MECH4660: ENGINEERING MANAGEMENT
FINAL EXAM
Table of Contents
QUESTION 4    3
Explain and Discuss Value Extraction Versus Value Creation in Context of Intellectual Property (IP).    3
Value Extraction in context of IP:    3
Value Creation in context of IP:    3
Benefit of Trademarks and Patents in Assisting Technical Organisations with Competitive Strategy    3
IP    3
Trademarks:    3
Patents:    4
QUESTION 5    4
“Whole of Life” (WOL) Project Analysis in Financial Assessment and External Considerations    4
Whole of Life Project Analysis    4
Pillars of Sustainability    4
Social Sustainability    4
Economic Sustainability    5
Environment Sustainability    5
Ethical Considerations in Engineering Practices    5
Bibliography    6
5
QUESTION 4
Explain and Discuss Value Extraction Versus Value Creation in Context of Intellectual Property (IP).
Value Extraction in context of IP:
The objective of any protected innovation (IP) well thought out course of action is to extricate esteem from the IP resources. This can be achieved in an assortment of ways, for example, by dispossessing rivalry through predominant patent privileges, which makes the capacity to expand net overall revenues. It can be done forcefully by stating licensed innovation freedoms against outsiders and gathering harm grants and, maybe, improved harm grants; selling the innovation largely; or giving the innovation to a magnanimous or instructive establishment consequently making an ideal duty advantage.
Value Creation in context of IP:
IP valuation is an interaction to decide the financial worth of IP resources. To be capable sell, permit or go into any business game plans in light of IP, one should have the option to put a worth on an IP resource [1]. IP valuation is additionally advantageous in the requirement of IP freedoms, for inner administration of IP resources and for different monetary cycles.
As of late, the essential locus of significant worth for the vast majority organisations has been found in their protected innovation privileges. By one informed gauge from the last part of the 1990s, a few 3/4 of the companies from Fortune 100s complete market capitalisation were addressed through elusive resources, such as trademarks, licenses and copyrights [1]. In such a climate, IP board cannot be passed on to directors of innovation or lawful staff of corporate only.
Considering that the time-period for profits from IP property is a capital-intensive, required action for long terms focus and those decisions, which will influence the IP, are generally i
eversible for minimal price, IP executives should involve for useful and speciality unit experts as well as an enterprise's senior most officials [2].
Benefit of Trademarks and Patents in Assisting Technical Organisations with Competitive Strategy
IP
IP valuation in practice can help in
Secured Finance:
To involve IP resources as security to get funding, one has a more prominent likelihood of coming out on top on the off chance that the resources can be esteemed independently from the business. For this situation, it is essential to show that the IP resources will stay substantial; primarily, however, long the funding reimbursement period might last.
They ought likewise to stay attractive in case of dispossession.
Collaboration:
Prior to putting resources into an organisation, investors need to know the worth of that organisation's IP. Legitimate valuation of IP resources can along these lines assist with prevailing upon such likely financial backers, who will generally search for maximal return and negligible gamble. Likewise, on the off chance that you are thinking about a joint endeavour, vital collusion, consolidation or securing, IP valuation can help with understanding how much worth the IP resources of all gatherings add to the association.
Franchising and Licensing:
A careful comprehension of the IP resources before moving into dealings on permitting will assist with guaranteeing that one can pursue better-educated choices based on the conditions and states of the permitting understanding. Knowing your IP resources will likewise help in deciding fair sovereignty rates. In diversifying as well, both franchisor and franchisee need an exhaustive comprehension of the worth of IP resources.
Dispute Management:
Knowing the worth of an IP resource can affect the choice about what methodology to utilise assuming that resource is encroached upon. Through IP valuation, it could be better ready to choose whether to seek after the court course, to decide on elective debate goal, or even whether to consider permitting the resource for the encroaching party. IP valuation likewise assumes a significant part in working out harms.
Licensed innovation freedoms can assist an organisation with acquiring upper hand in different ways, yet three are fundamental:
(i) They can give an impermanent mechanical lead (incumbency), safeguard
and names and assist with framing an industry standard.
(ii) Mixes of licenses and
and names can assist with supporting IP-based upper hands [3].
(iii) The utilisation of licenses to partake in a transient mechanical lead is the most popular method for...