Summary
Contents
Subject index
This jargon-free book demystifies all the concepts required for a well rounded understanding of the theory of Value Engineering (VE) and Value Engineering Certification Programs.
Value Engineering Mastermind: From Concept to Value Engineering Certification helps the readers to:
- Understand VE concepts
- Practice VE concepts and acquire the Society of American Value Engineers (SAVE) International Certifications-accorded in India by the Indian Value Engineering Society (INVEST)
A special feature of this book is a set of questions at the end of every chapter to test the knowledge acquired, with answers at the end of the book.
Since the book provides insights into the development of managerial traits through VE, it will be an important resource for companies that have begun to provide VE training to their employees, besides students of engineering and MBA courses. It will also be of much use to professional societies like the Indian Value Engineering Society, the Society of Indian Value Management, SAVE International, etc.
Techniques
Techniques
Function–Cost–Worth Analysis
The Function-cost-worth analysis is an excellent tool to identify the value improvement potential in any function. This tool will not only help to identify the potential but will also give some creative ideas as to how to achieve that. This may also be considered the first step towards creativity.
Concept of Worth
- Worth is the minimum cost of achieving a function.
- Worth is an indispensable element of VE.
- Worth varies with time.
- Worth depends upon information.
- Worth is usually determined by developing or thinking of other methods of performing functions.
- Worth is just a technique, not an absolute value.
- Where an item has several functions, determine worth of each function separately and add them to get overall worth.
Procedure for Cost Allocation
- Split the product ...
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