11/11/2016

ValueEngineering&itsBenefits

WhatisVE?
ValueEngineeringanditsBenefits

WhatisValueEngineering?
ValueEngineeringisafuctionoriented,systematicteamapproachandstudytoprovidevalueinaproduct,
system or service. Often, this improvement is focused on cost reduction however other important areas
such as customer perceived quality and performance are also of paramount importance in the value
equation.
Value Engineering techniques can be applied to any product process procedure system or service in any
kind of business or economic activity including health care, governance, construction, industry and in the
servicesector.
Value Engineering focuses on those value characteristics which are deemed most important from the
customerpointofview.
ValueEngineeringisapowerfulmethodolgyforsolvingproblemsand/orreducingcostswhilemaintainingor
improvingperformanceandqualityrequirements.
Value Engineering can achieve impressive savings, much greater than what is possible through
conventionalcostreductionexerciseevenwhencostreductionistheobjectiveofthetask.

WhatarethebenefitsofValueEngineering?
ValueEngineeringhelpsyourorganizationin:
LoweringO&Mcosts
Improvingqualitymanagement
Improvingresourceefficiecy
Simplifyingprocedures
Minimizingpaperwork
Loweringstaffcosts
Increasingproceduralefficiency
Optimizingconstructionexpenditures
Developingvalueattitudesinstaff
Competingmoresucessfullyinmarketplace

ValueEngineeringhelpsyoutolearnhowto:
Improveyourcareerskills
Separate"Symptoms"from"problems"
Solve"rootcause"problemsandcaptureopportunities
Becomemorecompetitivebyimproving"benchmarking"process
Takecommandofapowerfulproblemsolvingmethodologytouseinanysituation

HowisValueEngineeringApplied?
The technique of Value Engineering is governed by a structured decision making process to assess the
value of procedures or services. Whenever unsatisfactory value is found, a Value Management Job plan
canbefollowed.Thisprocedureinvolvesthefollowing8phases:
1. Orientation 2. Information 3. Function 4. Creativity 5. Evaluation 6. Recommendation 7.
Implementation8.Audit

WherecanIfindmoreaboutValueEngineering?
The best and most convenient way to learn the technique of Value Engineering and its application, is by
becomingamemberofIndianValueEngineeringSociety(INVEST).
http://www.investin.org/invest/ve/index.php

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11/11/2016

ValueEngineering&itsBenefits

INVESTisaprofessionalsocietyestablishedinOctober,1977anddedicatedtotheadvancementofValue
Engineering through education. This provides a better understanding of the principles, methods and
conceptsofvaluetechnology.INVESThasmembersinvirtuallyeverystateinIndia.Itmaintainsanetwork
of chapters throughout the country and provides its members with additional educational opportunities at
thelocallevel.
INVESTisaffiliatedtotheSocietyofAmericanvalueEngineers(SAVE).

http://www.investin.org/invest/ve/index.php

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