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Value Engineering

By-
Jyoti Sinha (B08011)
Nabendu Kar (B08017)
• What is Value engineering?
• Brief History
• What is value?
Agenda • Applicability
• Value Methodology
-Pre-workshop
- Workshop
-Post Workshop
• FAST
• Benefits/Weakness
• Value Engineering (VE), also known as Value
Analysis, is a systematic and function-based
• What is Value approach to improving the value of products,
engineering? projects, or processes.

• It is a function-oriented, systematic team approach


to providing value in a product or service.
• Began at GE early 1940’s
• Brief History
• 1947 - Value Analysis
- Lawrence D. Miles
- “Father of VM”

• 1954 - Value Engineering


- U. S. Navy
• Value is a personal perspective
of your willingness to pay for
the performance delivered by
a product, process or project.
• What is
VALUE = What we get out of
value? something
What we put into it
• To Increase Value
F F F F
C C C C

REDUC INCREAS MAINTAI


E E N
• Construction projects.

• Applicability • Manufactured products.

• Business systems and


processes.
 
• Service organizations.
• How is it
Applied?

• Methodology
– PRE-STUDY
– VALUE STUDY
• Information Phase
• Function Analysis Phase
• Creative Phase
• Evaluation Phase
• Development Phase
• Presentation Phase
– POST-STUDY
• How is it • Information Phase
Applied?
- Review project data
- Prioritize strategic issues
- SWOT Analysis
- Determine Value Study
Expectations
- Visit Site or facility

• Function Analysis Phase


- Identify the project functions
- Classify project functions
- Function Analysis System
Technique (FAST)
- Value Index
• How is it • Creativity Phase
Applied?
- Generate alternate ideas that may
improve value.
- Brainstorming, Check Lists, &
Other Techniques

• Evaluation Phase
- Rank & Rate IDEAS
- Select IDEAS for Development
• How is it • Development Phase
Applied?
- Create Cost-Benefit Analysis
- Produce Support Material
- Generate Implementation Plan

• Presentation Phase
- Present Study Results
- Compare the study conclusions
with Information and Function
Analysis
- Ensure all relevant data available
- Create an anticipated
implementation plan
• How is it • Complete Changes
Applied?

• Implement Changes

• Monitor Status
• Function need be defined as Verbs
and Nouns. eg
C
Active Verbs Nouns
Generate Signal
Convert
Information
Receive Data
• Function
Analysis • FAST (Function Analysis System
Technique) - A logic diagram to
describe how a system works.
- Classical FAST model
- Hierarchy Function model
- Technical FAST model
- Customer-Oriented FAST model
FAST Example
HOW WHY

POISON EAT EAT ATTRACT


KILL MICE MICE POISON BAIT MOUSE

Trap Mice •Spray Poison •Eat Bait •Attract Mouse


Electrocute Mice
•Inject Poison •Drink Bait •Trap Mouse
Shoot Mice •Step on Poison•Smell Bait
Gas Mice •Eat Poison
Drown Mice •Shoot Poison
Use Snake
Poison Mice
• Benefits • Decreasing costs
• Increasing profits
C
• Improving quality
• Expanding market share
• Saving time
• Solving problems
• Using resources more effectively

• Weakness • Dependent on the quality of


information
• VE is not time oriented, but, product
oriented.
• many misunderstandings and biases
-”It cheapens the product without
improving it.”
- “VE is only used for cost
reduction.”
Potential Savings from VE
No engineering Document Revision
Change Revision
Re-Test/Re-qualification
Drawings Released Tooling Changes

Net Savings from VE

Total Cost of VE Implementation

VE Implementation
beyond this point
results in a net loss.

Engineerin
g
Concept Design &Productio Production
n Release
Value Analysis is a continuous
process

• Thank you