Value Engineering

Value Engineering

1. Design and Process to increase the value

   • Value benefit and cost
   • The goal is effort to reduce or eliminate the cost and maintaining and improving the functionality
   • Value Eng takes place in the design place
     • Materials
     • Transportation
     • Plant and equipment
     • Process
     • Sourcing
     • Delivered standards

2. Activities

   • Identifying the main elements
   • Analyzing the functions of those elements
   • Developing alternative solutions
   • Assessing the alternative solutions
   • Allocating cost to the alternative solutions
   • Developing in more detail the favored alternatives

3. To find way to deliver at a lower cost with the same quality