Value Engineering

Front 1

What is Value Engineering?

Back 1

- a system of thinking to identify and creatively solve a problem
- an organized process to identify and remove unnecessary cost
- achieving the best balance between function and cost

Front 2

What is unnecessary cost?

Back 2

Any cost that can be removed without impairing the essential quality, performance, etc.

Front 3

Why does poor value occur?

Back 3

- Lack of time
- Lack of information
- Lack of ideas
- Misconceptions
- temporary circumstances that inadvertently become permanent
- Habits

Front 4

True or False?
Value Engineering is life cycle oriented.

Back 4

True

Front 5

True or False?
Value Engineering is not system oriented.

Back 5

False

Front 6

True or False?
Value Engineering is NOT function oriented.

Back 6

False.

Front 7

True or False?
Value Engineering is NOT quality control.

Back 7

True

Front 8

The heart of value engineering is that which satisfies__________.

Back 8

the need or requirements of the customer

Front 9

Who defines value?

Back 9

Good value is defined by the owner

Front 10

List 3 things that define value?

Back 10

- Performance
- Quality
- Aesthetics
- Political
- Social
- Economic

Front 11

What is a value test?

Back 11

Systematic approach aid in the determination of satisfactory value.

Front 12

What are 5 questions you would ask yourself when conducting a value test?

Back 12

1. Does it contribute value?
2. Cost proportionate to its usefulness?
3. Does it need all its features?
4. Is there anything better for the intended use?
5. Anyone buying it for less?

Front 13

List 5 major criterion for evaluating value.

Back 13

- initial cost
- energy cost
- profit
- performance
- reliability
- operability
- maintainability
- quality
- safety
- environmental
- rate of return

Front 14

What is the best value situation (function vs. cost)?
A) Function added, costs same
B) Function same, costs up
C) Function added, costs down
D) Function down, costs down

Back 14

C) Function added, costs same