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Value Analysis and Value Engineering
Value Analysis and Value Engineering
1. Comparison :-
There is no standard procedure for value analysis. The stage involved in value analysis
consists of the following.
Ascertaining the needs and wants of customers.
Specifying the functions of products and components.
Determining the appropriate Cost for desired performance. The appropriate for a
particular purpose is the basis of value.
Identifying better alternatives in terms of work procedures work design, product
usage etc.
Comparisons the utility and appearance of the product with those or a competitive
produce and this should be done in details determine whether the use and esteem
function areproperly balanced and the customer is getting his money's worth.
After above comparisons possibilities of substituting its material, parts, process etc.
are analyzed to developbetter alternative.
Thus a product or service is said to have good value if it can give desired performance ta
reasonable cost. For example, the value of brakes ina motor car is very high. Value may
change by Changing either the cost or performance of the product or both.
Value Analysis is a very useful technique. It results in lower costs, lower prices, higher sales
and more profits. In addition to cost reduction, it serves the following purposes.
Special attention should be paid to style changes in the design of product. Design should be
such to minimize cost and scrap. Before making any design change costs of introducing such
a change and possible benefits accruing therefrom should be considered. Any new design
should be tested on Consumers under actual use conditions before placing it on the market.
Planning a product to meet the exact requirements of the market is known as product
development product development requires products research.
Product design and development is a never-ending or ongoing process and its benefits
become visible in long run.
2. Application of Value Engineering :-
Value Engineering is essentially a service function and is with reducing cost Product without
affecting utility and appealing properties of Product.
Value Engineering work in close collaboration with Design Engineering, Process Engineering,
Costing, Testing and Marketing activities for achieving the desired objective.
3. Simplification of Product:-