What does value engineering mean?
Definitions for value engineering
value en·gi·neer·ing
This dictionary definitions page includes all the possible meanings, example usage and translations of the word value engineering.
Wikipedia
Value engineering
Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be manipulated by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. The term "value management" is sometimes used as a synonym of "value engineering", and both promote the planning and delivery of projects with improved performance The reasoning behind value engineering is as follows: if marketers expect a product to become practically or stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The products could be built with higher-grade components, but with value engineering they are not because this would impose an unnecessary cost on the manufacturer, and to a limited extent also an increased cost on the purchaser. Value engineering will reduce these costs. A company will typically use the least expensive components that satisfy the product's lifetime projections. Due to the very short life spans, however, which is often a result of this "value engineering technique", planned obsolescence has become associated with product deterioration and inferior quality. Vance Packard once claimed this practice gave engineering as a whole a bad name, as it directed creative engineering energies toward short-term market ends. Philosophers such as Herbert Marcuse and Jacque Fresco have also criticized the economic and societal implications of this model. Value engineering is the structural and analytical process that seeks to achieve the value for money.
Numerology
Chaldean Numerology
The numerical value of value engineering in Chaldean Numerology is: 7
Pythagorean Numerology
The numerical value of value engineering in Pythagorean Numerology is: 6
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"value engineering." Definitions.net. STANDS4 LLC, 2024. Web. 3 May 2024. <https://www.definitions.net/definition/value+engineering>.
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