This presentation discusses value engineering and its eight step process. Value engineering is a systematic method to improve value by examining functions to identify unnecessary costs. It aims to increase value by decreasing costs while maintaining performance, or increasing performance if customers are willing to pay more. The eight steps of value engineering are: preparation, information, analysis, creation, evaluation, development, presentation, and verification. The goal is to develop alternative designs that lower costs while fulfilling required functions.
This presentation is about Value Engineering and contains:
1.History of VE
2.Value Concept
3.What is Value Engineering?
4.Implementation of VE in our project
5.Principle and Purpose of VE
6.Case Study
7.Conclusion
This presentation is about Value Engineering and contains:
1.History of VE
2.Value Concept
3.What is Value Engineering?
4.Implementation of VE in our project
5.Principle and Purpose of VE
6.Case Study
7.Conclusion
Value Analysis (VA) is a tool (technique or method) that is used for improving the value of a product or a process of understanding its constituent components and their associated costs. It aims at finding improvements to the components by reducing their cost and increasing the value of the functions of a product or a service.
A critical advantage to using a VA is its potential for reducing costs, which is a benefit that permeates all advantages of the system.
A VA breaks-down a product or service into components, it enables you to analyze each component on its own, evaluating its features and functions in detail efficiency and effectiveness.
Value Analysis and Value Engineering -Function & Evaluation of FunctionJayaprakash Manickaraj
VAVE is a wide topic and i tried to go depth in understanding function and evaluating it. Most of the topic extracted from L.D Miles Book 'Techniques of value Analysis and Engineering
A Framework for Synergy, Collaboration, Exploration, Creativity, Discovery & Innovation. A Team activity to balance need, function & cost.
bsauter@workbench20.com
www.workbench20.com
Value Analysis (VA) is a tool (technique or method) that is used for improving the value of a product or a process of understanding its constituent components and their associated costs. It aims at finding improvements to the components by reducing their cost and increasing the value of the functions of a product or a service.
A critical advantage to using a VA is its potential for reducing costs, which is a benefit that permeates all advantages of the system.
A VA breaks-down a product or service into components, it enables you to analyze each component on its own, evaluating its features and functions in detail efficiency and effectiveness.
Value Analysis and Value Engineering -Function & Evaluation of FunctionJayaprakash Manickaraj
VAVE is a wide topic and i tried to go depth in understanding function and evaluating it. Most of the topic extracted from L.D Miles Book 'Techniques of value Analysis and Engineering
A Framework for Synergy, Collaboration, Exploration, Creativity, Discovery & Innovation. A Team activity to balance need, function & cost.
bsauter@workbench20.com
www.workbench20.com
1: Value Analysis provides great turnaround in the operations of the businesses.
2: Use Value Analysis to analyze and understand the detail of cost for specific situations.
3: Use it to find a focus on key areas for innovation.
4: Use it in reverse (called Value Engineering) to identify specific solutions to detail problems.
Value Analysis and Value Engineering in Material ManagementManoj Abraham
See the doc file(already uploaded) to see the contends in detail...copy n paste the beolw link...
http://www.slideshare.net/ManojAbraham/v-alue-analysis
Risk Management at Wellfleet Bank: Deciding about MegadealsRishi Bajaj
Risk Management at Wellfleet Bank: Deciding about Megadeals
HBR Case Study
Contents:
§ Introduction
§ What kind of Risk does Wellfleet Bank face?
§ Overview of Proposal 1 and 2
§ Evaluation of Proposal 1 and 2
Done By-
109 Ghanshyam Gupta
301 Balagopal Padmakumar
302 Harbir Singh Banga
402 Rishi Bajaj
503 Anirwan Bhattacharya
Marketing Plan: Product diversification strategy - Media Strom SASpyros Langkos
MEDIA STROM: « We stay awake…so that you can sleep better »
This study concentrates on the marketing plan of the Greek company Media Strom S.A (Athenian Mattresses Industry) and the development of a new product in a new market: in the case of product diversification through innovation.
This report reviews and evaluates the marketing plan of a well known and established business, Media Strom S.A and recommends an alternative marketing strategy for the needs of product diversification strategy. We examine this proposition alongside with the ongoing marketing plan of the company, as a one to one consultation process.
The paper attempts an overall analysis of the current market, the competition and the influences of the external environment. Furthermore, presents the company‟s capabilities and internal processes, highlighting the strengths and opportunities of the organization.
The solution proposed by this paper moves to the field of product innovation (product case: sleeping pillow enhanced with internal speakers with connector for smartphones), so that it positioned as an inspirational product with distinctive quality and technological function.
It mainly focus on introducing a modern relaxing sleep session to the user, which provides affordable bed and sleep-related products to young middle age groups of people with concerns over technology and comfort.
The stated objective here, concerning price analysis, is that the above product category should reach 1/10 of the overall sales of the company, with regional targeting of the western societies, which are more technologically advanced and innovation friendly.
Supporting the above mention, the delivered profit margins are expected to be small with a rising ongoing trend, in the first semester of the launching process. But as the assembly product line grows in numbers and manufacturing experience, the business profits will accumulate as it becomes a usual business service, ensuring the smoothing between marketing and factory operations.
Company profile:
Media Strom was established in 1967 from the brothers John and Nick Niarchos, aiming to offer mattresses that improve the quality of sleep and set new standards on the market. It is thought to be the No.1 company in the mattress industry, having a presence in the field for over 4 decades. It is a 100% Greek-owned company, having offered great sleep up to 3 generations so far. They have eco-friendly facilities without gas and waste emissions due to their strict recycling and packaging program and collaboration with the Hellenic Recovery Recycling Corporation.
The history of the firm is filled with innovations that changed the way that most Greek people slept. Above 2,5 million Greek citizens today wake up in a bed or a mattress of Media Strom. The New Sophisticated Factory of Media Strom builted in 2010, is the
jewel of the world quilting, confirming entrepreneurship and healthy development.
VALUE ENGINEERING IN RESIDENTIAL HOUSE CONSTRUCTIONIAEME Publication
The current construction practices require a great effort to balance the factors such as money,time and quality. Comparing with other industries it seemed that construction industry remains the toughest one to deal with. It is proven that certain modern techniques can be easily adapted to the
project to balance the factors above said. Value engineering is an efficient tool among them for fostering the construction quality with an aim of low cost and high services. The value engineering study is carried out with analysis of basic functions of the project and based on that analysis unwanted elements in the project are scrutinized and eliminated.
Building & launching mobile & digital productsAnurag Jain
These slides are an introduction to Product Management for building & launching mobile & digital products for consumers. It covers the basics of Product Management as well as gives an overview of the Product Management process and a practical, iterative approach to building products.
Majestic Market Research MRSS firms based in India provides market research services in Automotive Industry, HealthCare & Eye Tracking. We are a member of the European Association of Opinion and Marketing Research Professionals ESOMAR.
The objective of usability activities at the implementation stage are to ensure that detailed design takes account of usability principles.
This can be achieved by:
use of style guides and design guidelines
ensuring that rapid prototyping activities incorporate usability
Value Management concentrates on the actual needs of the user to focus its resources. It is different to cost-cutting exercises, which achieve economies by using less or cheaper materials.
The Value Management approach involves the use of creative techniques, combined with the latest technical information on materials and construction methods.
Product Development Demystified: Launching Faster with Confidence through Hum...Aggregage
Kandice Durden is here to discuss how leading organizations build, validate, and embed customer feedback into their development cycles. It’s time to take the guesswork out of product development by putting your customers at the center of your decisions!
Topic: Operations Management, Degree: MBA, Semester: II Syllabus: Mysore University. Date : Jan 2015.
Please note: This was prepared as a teaching aid. Not for commercial purposes. Sharing to spread the knowledge of operations management. Note : Copyright belongs to respective owners. List of top references used to prepare these slides given.
If you have any questions, comments, improvement suggestions, Email to: niranjanakoodavalli@gmail.com
2. VALUE ENGINEERING
GNA UNIVERSITY2
Value, as defined, is the ratio of function to cost.
Value engineering (VE) is systematic method to
improve the "value" of goods or products and
services by using an examination of function.
3. VALUE ENGINEERING
GNA UNIVERSITY3
Value Engineering is an organizational creative
approach for the purpose of identifying of
unnecessary cost.
Unnecessary cost are that which provides neither
quality, nor use, not appearance, not life and
customer features.
4. VALUE ENGINEERING
GNA UNIVERSITY4
It includes –
1. Cost Cutting
2. Design Review
3. Project Elimination
4. Scope Reduction
5. Quality Reduction
6. Detailed Cost Estimating
7. Redesign
5. VALUE ENGINEERING
GNA UNIVERSITY5
Value is always increased by decreasing costs while
maintaining essential performance.
Value may also be increased if the customer needs,
wants, and is willing to pay for greater performance.
Most people who design a product are quite often
because designer is not sure real needs of user
Over designed product by providing it that features
that are not useful to customer is useless.
6. VALUE ENGINEERING
GNA UNIVERSITY6
The value of a function is defined as the relationship
of cost to performance
Performance max
Cost min
Value max =
7. VALUE ENGINEERING
GNA UNIVERSITY7
VE applies to everything because every project or
process has a function
VE can be applied at any point of the design or
process
VE is a problem solving technique
VE can be used as a technique for developing
design criteria
8. VALUE ENGINEERING
GNA UNIVERSITY8
Value engineering is often done by systematically
following a multi-stage job plan. It has the following
eight steps:
1. Preparation
2. Information
3. Analysis
4. Creation
5. Evaluation
6. Development
7. Presentation
8. Verification phase
9. VALUE ENGINEERING
GNA UNIVERSITY9
Preparation-
It is the most important phase of value
engineering that creates that right and successful
environment.
In this phase there is interaction of customer
before manufacturing.
Work done on specifics rather than on
generalities.
10. VALUE ENGINEERING
GNA UNIVERSITY10
Information phase-
To determine user needs
To build team knowledge and understanding of
the project
To completely understand the specific use of
function requirements of the item
To visit the site (preferable)
Process continues throughout remainder of the
study
11. VALUE ENGINEERING
GNA UNIVERSITY11
Analysis phase-
The evaluation should be done after each idea
after brainstorming.
Analyzing of each ideas without thinking that idea
would not work, idea not possible and all that.
Identification of barriers and their elimination
tactfully.
12. VALUE ENGINEERING
GNA UNIVERSITY12
Creation-
In this stage value engineers ask; What are the
various alternative ways of meeting
requirements? What else will perform the desired
function?
Brainstorming with positive thinking.
Creative ideas can be developed by number of
check lists.
13. VALUE ENGINEERING
GNA UNIVERSITY13
Evaluation phase-
Study of ideas that results in cost saving
and their implementation.
In this stage all the alternatives are assessed by
evaluating how well they meet the required
functions and how great the cost savings will be.
14. VALUE ENGINEERING
GNA UNIVERSITY14
Development phase-
This phase attempts a further development of the
two to four ideas selected earlier.
A real effort to develop the ideas of lowest cost
that do the main function is attempted.
Ask yourself: would I spent my own money on
this solution? If not modify it.
15. VALUE ENGINEERING
GNA UNIVERSITY15
Presentation –
In the final stage, the best alternative will be
chosen and presented to the client for final
decision
To present value engineering study proposals to
the decision makers/stake holders
To obtain approval/support
Present final solution in writing in concise format
stating the savings cost and detailed plan for
implementation the idea.
16. VALUE ENGINEERING
GNA UNIVERSITY16
Verification phase-
Every step of the process is geared towards
obtaining a result that increases the rate on
investment.
It is necessary to ensure that the group that
implements the idea inform of savings produced
and other benefits.
17. VALUE ENGINEERING
GNA UNIVERSITY17
Conclusion-
Value Engineering helps us to learn how to :
Improve our career skills
Separate "Symptoms" from "problems"
Solve "root cause" problems and capture
opportunities
Become more competitive by improving
"benchmarking" process
Take command of a powerful problem solving
methodology to use in any situation
Reduction in cost of existing products or systems.
Prevention of unnecessary cost in new products .