Final answer:
The 'cost of the least feasible alternative' is not associated with sunk costs in engineering economic analysis because it pertains to current or future options, as opposed to costs that have been incurred in the past and cannot be recovered.
Step-by-step explanation:
In economic analysis, particularly within the context of engineering, sunk costs refer to money that has been already spent and cannot be recovered. These costs are associated with decisions made in the past and should not influence future economic decisions. When assessing economic viability and performance, it is crucial to focus on prospective costs and revenues rather than costs already incurred. Consequently, among the options given, "cost of the least feasible alternative" is not associated with sunk costs, as it refers to an option that is available in the present or future rather than an expense that has occurred in the past.
Therefore, to answer the original question: The option that is not associated with 'sunk costs' in engineering economic analysis is the "cost of the least feasible alternative." Sunk costs are indeed money already spent, associated with a past decision, and should be disregarded in engineering economic analysis.