value analysis

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Related to Value engineering: value analysis

value analysis

or

value engineering

the evaluation and review of a product's DESIGN, with the aim of reducing its material or manufacturing cost without impairing its function or performance. By examining all a product's components and their manufacture it may be possible to identify cheaper raw materials to replace expensive ones, or opportunities to reduce the degree of precision with which components are made. See CONCURRENT ENGINEERING, LEAN MANUFACTURING.
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With interest in value engineering at an all-time high, the free to attend event hosted by Big Project ME and Middle East Consultant will bring together expert speakers and panelists from developers, consultants and contractors across the region, to discuss the systematic, organised procedural processes, misconceptions and challenges relating to VE.
Michael Bakers value engineering team for these projects consists of subject matter experts in civil, architectural, structural, mechanical, cost estimating and electrical disciplines.
Product value engineering involves altering the design of a product to achieve a desired set of features and functions at the lowest total cost and utilizing the fewest possible parts.
We've reached a phase where we're told that all value engineering is to be done during construction.
According to Mejorada, value engineering was not a mode of procurement but was a preprocurement activity.
He pointed out that the ministry had organised an academic session in value engineering for 113 engineers, adding that the Human Resources Department is currently taking charge of training 30 other engineers in this field.
The ministry is patronizing the conference as value engineering is extremely important for any vital project and helps implement high quality governmental projects with less cost.
Value engineering as one of the most efficient and most economical methods known in the field of activity is defined as follows: Value engineering is an organized effort through the review and analysis of all components of a project activity, (From initial formation up to design and implementation commissioning and the exploitation stages) and finding practical solutions, provided implementation conditions activities at lower cost and the shorter time so that to maintain and upgrade the quality, safety, reliability and the ability to maintain the same designed level.
The UK is currently the ninth largest manufacturing nation in the world and High Value Engineering accounts for 35 per cent of all exports and contributes PS151 billion worth of value toward the UK's estimated Balance of Payments figure.
Within the project development process, value engineering is a way for transportation professionals to review project details in a collaborative setting and really assess plans to ensure cost-effective and high-quality work," Zaharewicz says.
Value engineering is a systematic process of function analysis to identify actions that reduce cost, increase quality, and improve mission capabilities across the entire spectrum of DoD systems, processes, and organizations.
The Value Engineering Alliance (VEA) announced the EASY (Embedded Application SYstem) PC-compatible industrial computer and machine vision implementation platform in a compact, aluminum-housed package that provides the core hardware components needed to develop and deploy vision systems.