4 VE is performed only in the construction area.

True
False

5 A team best applies VE?

True
False

Which one is not an Objective of Value Engineering?

Reduce costs
reduce time
reduce quality
Improve Reliability & performance
improve attitudes
Value engineering began at ________ during World War II.
NBC NBC Universal General Electric Vivendi
The aim of value engineering is to
A.find the depreciation value of a machine
B. determine the selling price of a product
C. minimise the cost without change in quality of the product
D.all of the above
In value engineering, the term value refers to
A.manufacturing cost of the product
B. selling price of the product
C. total cost of the product
D.utility of the product
What are the different types of values?
Cost value
Exchange value
Use value
Esteem value

18. What are the various functions of a product?

 Functions can be classified into the following three categories:

Primary functions
Secondary functions
Tertiary functions

19. Write any four objectives of value analysis.

Reduce the cost of the product
Simplify the product
Use (new) cheaper and better materials

Modify and improve product design so as to make it acceptable

to consumer

20. List any four advantage of value engineering.

Value engineering/analysis identifies and reduces the product
cost.
It modifies and improve the product design
It increases the performance/utility of the product by economical
means.
It helps to generate new ideas.

The correct sequence of phases in value engineering is

Option A):
investigation phase, information phase, creative phase, evaluation phase
Option B):
information phase, creative phase, investigation phase, evaluation phase
Option C):
creative phase, investigation phase, evaluation phase, information phase
Option D):
creative phase, information phase, investigation phase, evaluation phase