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value engineering

VALUE ENGINEERING

DEFINITION

The systematic application of recognized techniques which 
  • identify the function of a product or service
  • establish a monetary value of the function, and
  • provide the function at lowest overall cost.
OBJECTIVES
  • to provide the best value products or services
  • to provide the best performance, and
  • to provide the best sell appeal at the lowest cost.

VALUE ANALYSIS

It is 
  • an organised study of functions and cost.
  • an objective appraisal of workable attenuates.
  • co-operative effort of all department.
  • a realistic method to increase profit.
  • a result oriented exploration of of new technologies.
  • continuing dynamic program.
  • a refusal to accept outdated concept.
  • a guarantee hearing for for-out ideas.
  • a planned discipline for hostelry individual creativity.   

DIFFERENCE BETWEEN VALUE ENGINEERING AND VALUE ANALYSIS

  1. Value engineering is concerned with new products.while value analysis is concerned with existing products,
  2.  Value engineering is applied during product development.while value analysis involves a current product being analysed and evaluated by a team.
  3. Both value engineering and value analysis focus on reducing costs,improving functions. 


Comments

  1. UnknownJanuary 28, 2021 at 1:48 AM

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