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

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