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Value Engineering

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Joined: Thu Mar 29, 2018 5:32 am

Value Engineering

Fri Oct 12, 2018 10:02 am


During the course I came across term Value Engineering. I don't remember exactly in which domain was it covered but then I just noted down so that can explore more around this term.
Can explain what does it mean and where does it get used?
Posts: 2638
Joined: Fri Jul 11, 2014 11:57 am

Re: Value Engineering

Tue Oct 16, 2018 11:22 am

In Value engineering value is identified as a ratio of function to cost.

It includes following steps:

I. Gather Information:
a. What is being done now?

b. Who is doing it?

c. What could it do?

d. What must it not do?

II. Measure Performance:

a. How will the alternatives be measured?

b. What are the alternative ways of meeting requirements?

c. What else can perform the desired function?

III. Analyse Functions:

a. What must be done?

b.What does it cost?

IV. Generate Ideas

a. What else will do the job?

V. Evaluate and rank ideas:
a. Which ideas are best?

VI. Develop and Expand Ideas:

a. What are the impacts?

b. What is the cost?

c. What is the performance?

VII. Present Ideas

a.Sell alternatives

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