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What is VALUE ENGINEERING? What does VALUE ENGINEERING mean? VALUE ENGINEERING meaning & explanation
 
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What is VALUE ENGINEERING? What does VALUE ENGINEERING mean? VALUE ENGINEERING meaning - VALUE ENGINEERING definition - VALUE ENGINEERING explanation, Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. The reasoning behind value engineering is as follows: if marketers expect a product to become practically or stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The products could be built with higher-grade components, but with value engineering they are not because this would impose an unnecessary cost on the manufacturer, and to a limited extent also an increased cost on the purchaser. Value engineering will reduce these costs. A company will typically use the least expensive components that satisfy the product's lifetime projections. Due to the very short life spans, however, which is often a result of this "value engineering technique", planned obsolescence has become associated with product deterioration and inferior quality. Vance Packard once claimed this practice gave engineering as a whole a bad name, as it directed creative engineering energies toward short-term market ends. Philosophers such as Herbert Marcuse and Jacque Fresco have also criticized the economic and societal implications of this model. Value engineering began at General Electric Co. during World War II. Because of the war, there were shortages of skilled labour, raw materials, and component parts. Lawrence Miles, Jerry Leftow, and Harry Erlicher at G.E. looked for acceptable substitutes. They noticed that these substitutions often reduced costs, improved the product, or both. What started out as an accident of necessity was turned into a systematic process. They called their technique "value analysis". Value engineering is sometimes taught within the project management or industrial engineering body of knowledge as a technique in which the value of a system’s outputs is optimized by crafting a mix of performance (function) and costs. In most cases this practice identifies and removes unnecessary expenditures, thereby increasing the value for the manufacturer and/or their customers. VE follows a structured thought process that is based exclusively on "function", i.e. what something "does" not what it is. For example a screw driver that is being used to stir a can of paint has a "function" of mixing the contents of a paint can and not the original connotation of securing a screw into a screw-hole. In value engineering "functions" are always described in a two word abridgment consisting of an active verb and measurable noun (what is being done - the verb - and what it is being done to - the noun) and to do so in the most non-prescriptive way possible. In the screw driver and can of paint example, the most basic function would be "blend liquid" which is less prescriptive than "stir paint" which can be seen to limit the action (by stirring) and to limit the application (only considers paint). This is the basis of what value engineering refers to as "function analysis". Value engineering uses rational logic (a unique "how" - "why" questioning technique) and the analysis of function to identify relationships that increase value. It is considered a quantitative method similar to the scientific method, which focuses on hypothesis-conclusion approaches to test relationships, and operations research, which uses model building to identify predictive relationships.
Views: 19627 The Audiopedia
What is Value Engineering and its benefits ,Step/Process
 
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Dosto iss videos mai hum baat karage “Engineering Economics”ka UNIT-4 ka topic-“Value Engineering” kya hota Hai aur benefits and step/process ka bare mai discuss karegeye. Download For Notes Link-https://www.notesgen.com/note/49131/value-engineering-unit-4-engineering-economics.html To Download App For Notes-https://www.notesgen.com/user/home नमस्कार दोस्तों, आपका बहुत बहुत स्वागत है हमारे चैनल "mindmaker guruji" में, Hello friends, Welcome to "mindmaker guruji", Please SUBSCRIBE to “mindmaker guruji”. Jai Hind Jai Bharat Thanks
Views: 5039 mindmaker guruji
Value analysis in a nutshell
 
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What exactly is Value Analysis? What are the core elements of this methodology? And why has this approach been so successful for 70 years? How do you proceed within such a value analysis project? What are the tasks of a Professional in Value Management (PVM)? This short explanatory video gives a first overview of the topic using the example of a construction project. The methodology Value Analysis is an organized and creative approach that applies a function- and cost-oriented design process with the aim of increasing the value of the value analysis object. It is characterized by: • Functional orientation (basic idea: The customer does not want the object but its function / effect) • Value concept (How can I increase the value of an object? How can I realize functions at the best price?) • Holistic approach (integration of all stakeholders) • Interdisciplinary teamwork (integration of employees from product development, production, sales, purchasing ...) with space for creativity • Structured, step-by-step approach (according to the value analysis work plan described in the guideline VDI 2800) and • Application neutrality, which means that the methodology can be used independently of the industry, from the phase of the project (from the concept phase to the existing product) and from the considered object (product, process, service). How these core elements, responsible for the success of the methodology, are working together, is shown vividly. In 1947 Value Analysis has been developed in the USA by Lawrence D. Miles. The Technical Division Value Management / Value Analysis at the VDI has been the leading organization for the application, support and further development Value Analysis / Value Management in the German-speaking world since 1967. It also plays a leading role in the international community. Links: Technical Division Value Management/Value Analysis http://www.vdi.eu/engineering/vdi-societies/product-and-process-design/product-and-process-design/value-managementvalue-analysis/
Value Engineering هندسة القيمة
 
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إذا اردت ان تعرف ما هى هندسة القيمة ,شاهد الفيديو واستمتع بالأسلوب المتميز فى التفاعل مع المشاهدين. هناك سؤالان ينتظرانك فى نهاية الفيديو ,لا تفوتهما, واجب عليهما فى تعليق من فضلك. ملحوظة: هذه الاسئلة لفائدتك ولفائدة الآخرين من اجل نشر العلم والمعرفة والخبرة. ________________________ رابط موقع SAVE: http://www.value-eng.org رابط صورة الرسم البيانى للسؤال رقم 1: https://www.dropbox.com/s/uni2elft1wx9w49/ve.png?dl=0
Views: 5172 Marco Abdelmaseeh
L.D. Miles Value engineering – value analysis techniques 1. Avoid Generalities
 
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General statements are like fog. The road may be clear but you can’t move forward. Value analysis is an intensive activity. One has to deal with item by item, feature by feature. Every material used has to be examined for value. Every radius, every corner, every hole in the part has to be examined for function and value. Every operation done has to be examined for function accomplished and cost. For results in value study use specific function of each cost element. Generalities that stop investigation only prevent change and protect the status quo.
Views: 68 Narayana Rao
What is Value Engineering? | Gordon Culp
 
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Engineer Gordon Culp descibes Value Engineering. http://smithculp.com
Views: 11103 Smith Culp
The essence of a Value Engineering (VE) Workshop
 
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Short explanation of the appliance of Value Engineering through a VE Workshop
Views: 8374 perryelbers
Value Analysis & Value Engineering Solution for Off Highway Industry
 
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Value Analysis & Value Engineering (VAVE) Solution for Off Highway. Our G-VAVE solution helps reduce product design and manufacturing cost by optimizing product design. Geometric Portfolio for Off-Highway offerings: http://geometricglobal.com/industries/off-highway/
Views: 9526 HCL GeometricPLM
value engineering and value analysis : Value engineering with example
 
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Problem Solving Techniques #2: Value Analysis
 
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See how Value Analysis can be used to help determine improvement and re-design priorities.
Views: 64424 Eugene O'Loughlin
Value engineering
 
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Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. The reasoning behind value engineering is as follows: if marketers expect a product to become practically or stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The products could be built with higher-grade components, but with value-engineering they are not because this would impose an unnecessary cost on the manufacturer, and to a limited extend also an increased cost on the purchaser. Value engineering will reduce these costs. A company will typically use the least expensive components that satisfy the product's lifetime projections. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 8782 Audiopedia
Mod-4 Lec-17 Value Engineering
 
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Lecture Series on Industrial Engineering by Prof.Inderdeep Singh, Department of Mechanical and Industrial Engineering, IIT Roorkee. For more details on NPTEL visit http://nptel.iitm.ac.in
Views: 30184 nptelhrd
Value analysis – Value Engineering - Difference
 
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What is the difference between value analysis and value engineering? L.D. Miles indicated the possibility of difference. He wrote: In achieving better value, there are two opportunity areas: 1. The identification of costs as unnecessary. 2. The decision making which will eliminate the identified unnecessary cost. Value Analysis is step 1. Value engineering is step 2 Presented by:Prof. k.V.S.S. Narayana rao industrial engineering knowledge center blog http://nraoiekc.blogspot.com.
Views: 234 Narayana Rao
Value Engineering Ch10
 
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Sample Lecture on Value Engineering and Value Analysis as related to purchasing-Part of Procurement and Globalk Supply Graduate course offered by Rutgers Business School Online Masters Program
Views: 4169 DrAatRutgers
Value Analysis
 
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The Value Analysis Model is the standard of value measurement. A Value Analysis study answers the critical question: “What do your customers value?” Base your branding and marketing efforts on a solid foundation of optimizing your current brand and understanding what your customers value now and will value next.
Views: 3419 ThatBrandGuy.com
Value Analysis Technique  - Identify and Overcome Roadblocks
 
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Value Analysis Comparing Specified Performance (Function) with Cost Value of Current and Alternative Designs, Processes and Vendors. Finding opportunity of redesign to reduce cost value. Roadblocks prevent development of value alternatives. Roadblocks are mainly lack of information, acceptance of wrong information, and a wrong belief. The specific technique of identifying and overcoming roadblocks is another item in the kit of tools which is positively essential for the professional value engineer to learn to use effectively. Presented by Professor K.V.S.S. Narayana Rao (NITIE) Industrial Engineering knowledge Center http://nraoiekc.blogspot.com
Views: 64 Narayana Rao
Value Analysis and Value Engineering
 
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... Vladislav who is going to talk about Value Analysis and Value Engineering. So, Vladislav, could you first provide a brief background of yourself? Hi, Dustin. Thank you for the opportunity to provide my latest thoughts about Value Analysis and Value engineering. Well, I am procure-to-pay manager with over ten years’ experience in different multinational corporations who is linking Strategic Business Plan to Supply Chains Strategy. I have a variety of skills in Strategic Model Sourcing, SRM, Cost analysis Management, Supply Performance Evaluation. I have consulting experience and support my personal blog about best practices in procurement.
Views: 2224 Dustin Mattison
Lecture 07 Value Engineering Concepts
 
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Basic Concept of Value Engineering What is Value Engineering When to Apply Value Engineering Advantages of Value Engineering
Your career in Cost and Value Engineering at Siemens
 
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http://www.siemens.de/jobs/cve Find out more about your career opportunities as a Cost and Value Engineer at Siemens.
Views: 1518 Siemens
Earned value analysis worked example
 
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Check out http://www.engineer4free.com for more free engineering tutorials and math lessons! Project Management Tutorial: Earned value analysis worked example.
Views: 139759 Engineer4Free
Product Design and Value Engineering
 
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A.T. Kearney’s Product Excellence and Renewal Lab, or PERLab, helps you take a holistic approach to product portfolio management with a focus on cost reductions and revenue improvements, giving companies a long term competitive advantage through the lifecycle of their products.
Views: 581 A.T. Kearney
Value Engineering
 
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One plumbing designer's story on a commercial project's plumbing system that was value engineered from cast iron soil pipe to pvc. Shares problem and advice to help avoid failure.
Views: 3500 charlottepipefoundry
Value Analysis
 
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Value Analysis
Views: 1319 William Richmond
Facilitating Function Analysis
 
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Knowledge Nugget: Facilitating Function Analysis
Views: 2648 SAVE International
VALUE ENGINEERING GUIDING PRINCIPLES
 
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Source: http://www.spreaker.com/user/oneraregem/guiding-principles-to-value-engineering In this episode discover: - The top 3 guiding principles to value engineering. - How hiring professionals can save you more money overall for your project. - What value engineering provides that big box could never conceive. - Why it makes more sense and save more dollars to leave existing plumbing in place rather than to move it. - What a difference a few feet makes when it comes to remodeling. - What is the big buzz about electrical renovations and how to avoid creating a surge in your budget. - Whatever you do, do NOT ask about doors in this episode, but if you've got some ideas about lighting…let us know! - There are a lot of places where you can make sacrifices and compromises, but not in this key area. See if you can guess the answer. The answer may be a surprise you as it is for many homeowners.
Views: 638 RareGem Productions
17 Value Engineering
 
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Views: 14899 Michael Smith
Value Engineering in the Construction Industry
 
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Value Engineering in the Construction Industry
Views: 8728 TitanCAE
Cost and Value Engineering at Siemens AG
 
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Looking for a challenge? We’ve got two. As Cost and Value Engineer you have two major objectives: help create highly useable customer products while at the same time make them more cost competitive. Here both innovation and cost leadership are not contradictory but goals that go hand in hand. Learn more about our employees and their activities in Cost and Value Engineering. http://www.siemens.com/cve
Views: 3066 Siemens
CA Revision:Cost Reduction vs Cost Control,Pareto Analysis,Target Costing,Value Engineering
 
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Cost reduction is the process used by companies to reduce their costs and increase their profits. Depending on a company’s services or product, the strategies can vary. Every decision in the product development process affects cost. Pareto Analysis is a statistical technique in decision-making used for the selection of a limited number of tasks that produce significant overall effect. It uses the Pareto Principle (also known as the 80/20 rule) the idea that by doing 20% of the work you can generate 80% of the benefit of doing the entire job. Take quality improvement, for example, a vast majority of problems (80%) are produced by a few key causes (20%). This technique is also called the vital few and the trivial many. Target costing is an approach to determine a product’s life-cycle cost which should be sufficient to develop specified functionality and quality, while ensuring its desired profit. It involves setting a target cost by subtracting a desired profit margin from a competitive market price.[1] A target cost is the maximum amount of cost that can be incurred on a product, however, the firm can still earn the required profit margin from that product at a particular selling price. Target costing decomposes the target cost from product level to component level. Through this decomposition, target costing spreads the competitive pressure faced by the company to product’s designers and suppliers. Target costing consists of cost planning in the design phase of production as well as cost control throughout the resulting product life cycle. The cardinal rule of target costing is to never exceed the target cost. However, the focus of target costing is not to minimize costs, but to achieve a desired level of cost reduction determined by the target costing process. Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be manipulated by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. #CostManagementTechniques#PART3
Views: 907 StudyByTech
Value Engineering
 
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This video is about Value Engineering
Views: 2995 Martha Garcia
Value Engineering Presentation   Video Version
 
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Lecture on Value Engineering
What is a Value Analysis Professional?
 
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Did you know that a Value Analysis Professional helps patients by using evidence-based decision making? Learn more about one of our favorite patients, Ava and her Value Analysis Professional, Laurie....
Views: 1774 AHVAP Team
Capital Cost Comparison: Present Worth Analysis
 
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Compares the cost of two equipment options using the concept of present worth. Made by faculty at the University of Colorado Boulder Department of Chemical and Biological Engineering. Check out our Process Design playlist at http://www.youtube.com/playlist?list=PL4xAk5aclnUjEuE_fvbyEts_oBpHYcwLY
Views: 38385 LearnChemE
Boundary Value Analysis(BVA) – Theory and Introduction - Software Engineering Lectures
 
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Boundary Value Analysis(BVA) – Theory and Introduction - Software Engineering Lectures in Hindi and English
Lecture Ch 12 Purchasing and Supply Chain Analysis: Tools and Techniques
 
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This lecture details tools and techniques commonly used in purchasing management and consist of project management, learning curve analysis, value analysis-value engineering, quantity discount analysis, and process mapping.
Views: 6137 Daniel Glaser

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