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.
Value Engineering Theory
Value Engineering Theory
Concept
Unnecessary cost associated with a product, process and system was present yesterday, is prevalent today and will be present even tomorrow. VE is the answer to identifying these unnecessary costs.
To quote L.D. Miles, ‘Value Analysis is a system, a complete set of techniques, properly arranged, for the sole purpose of efficiently identifying unnecessary cost before, during, or after the fact.’
L.D. Miles defined VA as, ‘An organized creative approach that has for its purpose the efficient identification of unnecessary cost, that is, cost that provides neither quality nor use nor life nor appearance nor customer features.’
He in his own way also explained the unnecessary costs. He mentioned, ‘Costs are considered “Necessary” until another means is known to keep the performance factors ...
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