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Value Engineering Analysis

Practical Training for Function Analysis and Cost Effectiveness Evaluation

VEAsq

General Description

Value Engineering is a systematic method of value analysis for product functions and system functions. The objective of Value Analysis is to provide product, system and service with the necessary functions to satisfy a demand through a lower cost approach. In other words, value analysis is a disciplined process to assess the value worth of a product design, systems function and service design with the objective of satisfying requirements.

Detailed Description

The Value Engineering Analysis approach will bring about a methodical and systematic analysis of the existing product part structure to seek lower cost design while maintaining and enhancing the primary functionality.

The Cost Redesign Team needs to be clear about the company competitiveness, customers’ requirements manufacturing processes and product specifications and service level. It is most effectively applied by marketing, research and development, product engineering, and manufacturing engineering team to re-develop an existing product or service for lower cost structure. In the case of system design for improving customer services, value analysis will be an indispensable tool to improve service performance.

The methodology can be extended to design system processes to improve system functionality in business processes, corporate system and service transactional processes. In an organization context, value analysis is a common tool that all functions can relate to, namely, to improve added value in functions and reduce the cost of material, production method and the provision of service. Value Engineering Analysis is also an indispensable tool for review of product cost structure.

 

What You Will Learn In This Course

  1. Learn how to breakdown a product/a sub component into its respective function
  2. Learn how to distinguish many categories of function and their related value
  3. Learn how to conduct value analysis for systemization of product to achieve its objective and least cost of operation
  4. Learn how to conduct value analysis for existing and new products to fit into a given cost structure for improving profits
  5. Learn how to design process, product and service specification to meet the varying level of requirements at different cost structure
  6. Learn the many trimming rules for design improvement and cost reduction
  7. Learn how to diagram a product or service function
  8. Learn 40 principles of Innovation
  9. Learn how to develop innovative idea
  10. Learn how to apply Practical Value Engineering Function Evaluation

 

How Is Training Conducted
Most of the Value Engineering approach is still based heavily on Product Features Activities Comparison Analysis of different competitive products as well as the FAST Diagramming methods to scale-value the cost items for analysis. APRC approach has further advanced the Value Engineering’s know-how discipline by expanding the scope of VE Application to include:

  1. Useful function & harmful effect mapping
  2. Identification of technical contradiction of design features
  3. Formulating design innovation for Value Engineering Analysis
  4. Systematic way to value engineer machine, tools, object, material & force/field application
  5. Clarify the often confusing issues of Customer Requirements to Design Features Requirements
  6. Expanding on the clarity of FAST diagramming methodology to relate it correctly to correct application of function & cost value.

By completing the Value Engineering course conducted by APRC, you will be equipped with the most up-to-date Value Engineering Methodology to systematically apply cost value optimization and design improvement to cost reduction.

Course Contents
Day 1
• Value Engineering Analysis
• Technological Trend Of Evolution
• The Product Cost Structure
• Criteria For Successful Product Development
• Practical Sessions

Day 2
• Assessing Value Of Function
• Function Analysis Systematic Technique (FAST)
• How To Set A Target Cost
• Examining A Part System Unit For Design Cost Change
• Practical Sessions

Day 3
• 40 Innovation Principles For Redesign Improvement
• Evaluating Design Change Checklist
• Product Redesign Strategies
• Value Engineering Job Plan
• Practical Sessions

Information on Enrollment

Value Engineering is useful to everyone in the organization who seeks new ways to design and redesign existing systems and products and achieve even better overall results in terms of customer satisfaction, organization performance as well as long term viability of the enterprise. This course is designed for managers, project leaders, and engineers from marketing, procurement, R & D, product engineering and manufacturing engineering to enable them to apply value analysis to product design, process design, and service system design.