Value engineering


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Related to Value engineering: value analysis

value engineering

[′val·yü ‚en·jə‚nir·iŋ]
(industrial engineering)
The systematic application of recognized techniques which identify the function of a product or service, and provide the necessary function reliably at lowest overall cost. Also known as value analysis; value control.

Value engineering

An organized activity in which building systems, equipment, design features, and materials are analyzed in order to attain the lowest building life-cycle cost while maintaining the stated functional and performance goals including quality, reliability, and safety.

Value engineering

A thinking system (also called value management or value analysis) used to develop decision criteria when it is important to secure as much as possible of what is wanted from each unit of the resource used. The resource may be money, time, material, labor, space, energy, and so on. The system is unique in that it effectively uses both knowledge and creativity, and provides step-by-step techniques for maximizing the benefits from both. It promotes development of alternatives suitable for the future as well as the present. This is accomplished by identifying and studying each function that is wanted by the customer or user, then applying knowledge and creativity to achieve the desired function. Resources are converted into costs to achieve direct, meaningful comparisons. By using the methods of value engineering, 15 to 40% reduction in the required resources often results.

Value engineering has applications in five broad areas: in design, purchase, and manufacture of products; in administrative groups, private or public, where the task is to achieve accomplishment through people; in all areas of social service work, such as hospitals, insurance services, or colleges; in architectural design and construction; and in development as well as research.

The system is used to improve value in either or both of two situations: (1) The product or service as used or as planned may provide 100% of the functions the user wants, but lower costs may be needed. The system then holds those functions but achieves them at lower cost. (2) The product or service may have deficiencies, that is, it does not perform the desired functions or lacks quality, and so also lacks good value. The system aims at correcting those deficiencies, providing the functions wanted, while at the same time holding the use of resources (costs) at a minimum. See Industrial engineering, Methods engineering, Operations research, Optimization, Process engineering, Production engineering, Production planning

value engineering

valley jack and valley rafter
A discipline of engineering that studies the relative monetary values of various materials and construction techniques, including
References in periodicals archive ?
It is imperative that precautionary and value engineering measures be considered, especially in the creative process, so that quality isn't negatively impacted.
Similarly, product value engineering (PVE) addresses waste, but does so through design instead of process.
Value engineering could only be allowed in the procurement stage when a "design and build" contract is involved, but this was not the case with the ICC, he said.
He pointed out that the ministry had organised an academic session in value engineering for 113 engineers, adding that the Human Resources Department is currently taking charge of training 30 other engineers in this field.
Using new techniques such as using value engineering in an environment that has not experienced it yet with obstacles and challenges identify and provide strategies for eliminating them and considered as one of the most important factors for successful implementation of value engineering.
If we can't define the benefits, and if we can't measure the benefits, the old definition of value engineering will persist, namely, to meet an illuminance recommendation at the lowest cost.
A report published today by the Royal Bank of Scotland entitled The Future of UK High Value Engineering, pinpoints the Midlands capital as key to the engineering sector.
Safdel added $1.8 billion value engineering contracts and agreements including 28 projects have been signed by Iranian companies in 17 countries in the first six months.
The new firm, Takmeel, has been structured to provide consultancy and management services for the property development industry and will operate in four distinct fields -- design and concept, construction and project management, value engineering and turnkey interior design solutions and property management.
For more than four decades, value engineering has been part of the concept development and design phases of Federal-aid transportation projects.
MANAMA: Ithmaar Development Company projects manager Rizwan Mumtaz highlighted the importance of value engineering during a presentation at the 13th Project Management Institute Arabian Gulf Chapter (PMI-AGC) annual conference.
The workshop discussed the value engineering, analyzing careers, innovation and the organized collective work to improve quality and lower the overall costs of the projects.