Thank you for your continued interest and commitment to the IISE Engineering Economy Division (EED). Our division exists to promote excellence in teaching and research in engineering economy across a wide benefit analysis, pricing and portfolios, real options, life-cycle cost assessment, energy and engineering economy, value chain management, technology replacement, and engineering economy education.

I would like to start by extending my appreciation and regards to Bayram Yildirim for an outstanding term as a president in 2024-2025. Furthermore, I’d like to extend my sincere thanks to our outgoing 2024–2025 board members—Nabil Nehme (Past President), Kurt Wurthmann, and Ahmet Akgun—for their dedicated service and leadership. We also warmly welcome our incoming 2025–2026 board members: Taner Cokyasar (President-Elect), Thomas Monroe, Nabil Nehme, and Michelle Stallard. We’re proud to have a board that brings together voices from across the globe—representing North America, Asia, and Africa, and four countries: the U.S., Canada, Egypt, and Lebanon. With members from leading academic institutions and the financial sector, our board offers a rich blend of academic rigor and real-world insight that strengthens our mission and impact.

This year’s IISE Annual Conference & Expo 2025 was held in Atlanta, GA, between May 31 and June 3, 2025. The Engineering Economy track featured an exciting and diverse set of papers addressing key challenges and innovations in engineering economics, sustainability, digital transformation, and financial systems. With AI being an important frontier today in the global markets, we have researchers presenting on Applications of AI in the Engineering Economy field. We also saw a special session on the topic (AI and Personalized Learning in Engineering Economic) where practitioners, academics and students were engaged. We had other special sessions which tackled topics like Future of Engineering education and Applications of Engineering Economy in Industry. In terms of research, we saw multi front research spanning from break-even modeling and stochastic forecasting to cost-benefit optimization.

Authors are tackling complex problems with advanced economic tools and frameworks. Many papers address sustainability themes—such as lithium-ion battery recycling, ESG metrics, and the economics of green infrastructure—while others explore emerging topics like NFTs, corporate venture capital, and the digital economy. Several contributions focus on the evolving role of higher education, curriculum innovation, and applied research across sectors like tourism, transportation, and agriculture. Together, these works represent a vibrant intersection of theory, data, and technology aimed at solving real-world engineering challenges. This year’s Engineering Economy track includes 24 abstracts and 12 full papers, organized into technical sessions on Manufacturing and Environmental Economics, Emerging Assets and Digital Economy, Infrastructure and Transportation Economics, Economics of Education and Institutional Analysis and Economic Modeling and Risk in Decision-Making sessions.

Please mark your calendar for the IISE Annual Conference 2026 on May 16, 2026 to May 19 2026 in Arlington, TX. We hope to see many more exciting research in Engineering Economy Track. In the meantime, if you have any questions around the track, kindly reach out to Taner Cokyasar (tcokyasar@anl.gov).

If you have any questions or would like to get more involved, feel free to contact me at alok.dand@fairstone.ca. I look forward to a productive and inspiring year ahead with all of you.

Warm regards,



Alok Dand

President, IISE Engineering Economy Division

Clifford Aido Mensah & YingThaviphoke, PhD (Advisor)

Western Michigan University

Clifford Aidoo-Mensah is a PhD student in Engineering and Applied Sciences: Engineering at Western Michigan University (WMU), where he also serves as a Teaching Assistant and Research Assistant in both the Computer Science and Manufacturing Engineering departments. With a bachelor’s degree in Chemical Engineering and a Master’s degree in Manufacturing Engineering, Clifford bridges materials science, manufacturing, and engineering economy in his academic and research work. His research focuses on applying artificial intelligence, machine learning, and genetic algorithms to optimize metal casting and additive manufacturing processes. He has conducted extensive simulation studies using MAGMA and InspireCast, developing digital twins and optimization frameworks to reduce porosity and improve quality in 3D sand printing.

Thomas J. Monroe, PhD

Systems Planning & Analysis, Inc.

Tom Monroe currently serves as a program manager and principal technical leader for risk at Systems Planning and Analysis, Inc. (SPA) in Alexandria, VA, working in the areas of risk management, decision analysis, cultural design, and systems engineering supporting Department of Defense and Department of Energy (NNSA) activities. Prior to joining SPA, Tom served in the U.S. Navy for 30 years as a nuclear submarine officer onboard many fast attack and ballistic missile submarines, and then as a Major Program Manager at Naval Sea Systems Command and Assistant Professor at National Defense University. 

MD Sarder, PhD

Bowling Green State University

MD Sarder is a Professor and Director of the School of Engineering at Bowling Green State University (BGSU). With a prolific career in academia and research, he is recognized for his significant contributions to the fields of industrial systems, logistics, and supply chain engineering. Dr. Sarder has authored five books and more than 100 scholarly articles, and he has been a principal investigator or co-principal investigator on over 30 grants funded by agencies such as the U.S. Department of Transportation, U.S. Department of Defense, and the National Science Foundation. He is also a Fulbright Scholar, with research focusing on supply chain resiliency. His work often involves training the next generation of engineers and addressing workforce needs in advanced manufacturing and logistics.

Thomas J. Monroe, PhD

Systems Planning & Analysis, Inc.

Tom Monroe currently serves as a program manager and principal technical leader for risk at Systems Planning and Analysis, Inc. (SPA) in Alexandria, VA, working in the areas of risk management, decision analysis, cultural design, and systems engineering supporting Department of Defense and Department of Energy (NNSA) activities. Prior to joining SPA, Tom served in the U.S. Navy for 30 years as a nuclear submarine officer onboard many fast attack and ballistic missile submarines, and then as a Major Program Manager at Naval Sea Systems Command and Assistant Professor at National Defense University. 

Kelli Grasman, M.S., MBA

University of Michigan

College of Engineering, Department of Industrial and Operations Engineering

Kellie Grasman, M.S., MBA, is an accomplished professional with deep expertise in industrial and operations engineering and engineering education. As an Intermittent Lecturer in the College of Engineering's Department of Industrial and Operations Engineering (IOE) at the University of Michigan, she brings a wealth of knowledge to the classroom. She also serves as a Digital Accessibility Specialist for the university's LSA Technology Services. Ms. Grasman holds multiple degrees from the University of Michigan, including a Master of Science in Industrial and Operations Engineering, a Master of Engineering in Manufacturing, and an MBA. Her career highlights include co-authoring the textbook Fundamentals of Engineering Economic Analysis, which was awarded the Joint Publishers Book of the Year Award by the Institute of Industrial and Systems Engineers. Her work focuses on applying business and financial principles to engineering concepts, preparing students to tackle complex, real-world challenges .