Value Engineering

Value Engineering

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.

Topics Covered:

• 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

Learning Outcomes:

• 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