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Value Engineering Analysis

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VALUE ENGINEERING ANALYSIS: For product / service cost reduction

What Is Value Engineering

Value Engineering is a systematic method of analysis of a product system, component and sub-assembly in term of its contributing function.

The cost of product systems components and sub-assembly providing these functions are then established to determine how much it cost to provide the needed functions according to the customers’ needs.

The Value Engineering Approach will bring a methodical and systematic analysis of the existing products and past structure to seek lower cost design while maintaining and enhancing the primary functionality.

In today’s environment of falling prices to maintain market share and inevitable cost increases, it is becoming more indispensable for organization to use Value Engineering to review all the products/services cost structure to pre-determine profitability of business operation.

The Applications

With Value Engineering Analysis the managers, engineers and analysts will be able to:

  • Breakdown the product structure in term of its design features
  • Determine the feature functions in term of design cost
  • Review customers’ needs product/service features and technical requirements
  • Seek design alternatives for satisfying the same level of functional need
  • Help supply chain vendors to seek cost reduction for their products and services
  • Eliminate technical problem arising from technical conflicts of system features
  • Develop a lower cost design for improving profitability

3 to 5 Days Training Course

The basic fundamental training requires 3 days. However, this may be lengthened by 2 more additional days to provide more time for the participants to conduct their hands-on study on several product design that are in need of value engineering analysis

Who Should Attend

Directors, managers and engineers and team members of cost reduction team should all attend this course together on projects that may require team effort to apply different skill set from each of their functional specialty.