Value Engineering : A Case Study

Value Analysis is an effective tool for cost reduction and the results accomplished are far greater. It improves the effectiveness of work that has been conventionally performed as it questions and probes into the very purpose design method of manufacture etc. of the product with a view to pinpointing unnecessary costs obvious and hidden which can be eliminated without adversely affecting quality efficiency safety and other customer features. Value analysis or engineering is a complete system for identifying and dealing with the factors that cause uncontributing cost or effort in products processes or services. This system uses all existing technologies knowledge and skills to efficiently identify costs or efforts that do not contribute to the customer''s needs and wants. Its effect is to help the good achieve even better.This problem-solving system is needed only when competition makes it desirable or mandatory to achieve lower costs better problem solutions than the normal good practices in any successful competing business or service are obtaining or more services than the available dollars will provide by present means.