Value Engineering (or Value Analysis or Value Methodology) is a systematic step by step process used by a multidisciplinary team for problem solving or planning.
- This technique can be used for product, process, service, system and procedures.
- It helps to identify and eliminate unnecessary cost and thereby achieve savings or improvements in product process under study without sacrificing Quality, Reliability and Maintainability.
- This technique can be used at concept stage, design stage, construction stage or after development of a product, process or project.
- Use of Value Engineering technique helps to understand and analyse problem from function point of view and impartially.
- Value Engineering helps to enhance creativity and team working
- This technique was developed in USA in year 1947 and is used globally even now.
- History, basic principles and organization. Pre study Stage + Information Phase.
- Function Analysis Phase + FAST Diagram + Cost & Cost Worth
- Cost, worth, Creative and Evaluation phases
- Development phase, Human aspects and Team Building
- Presentation phase
- Value Engineering concepts and how participants can use it
- Benefits of function analysis
- Apply Value Engineering for products, projects & problem areas
- Develop a systematic approach to avoid unnecessary cost
- Improvise product, process or system
- Scientifically compare and choose between alternatives
- Use of Value Engineering for root cause analysis
- Use of Value Engineering for strategic planning
- Development of team spirit and effective teams
- How to address senior management pain areas