value engineering

value engineering
Designing a product to eliminate any costs that do not contribute to the value of the product, i. e. the performance (or some other attribute) that leads the customer to purchase the product in preference to other similar products.

Big dictionary of business and management. 2014.

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  • Value engineering — is a systematic method to improve the value of goods and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It …   Wikipedia

  • value engineering — UK US noun [U] (also value analysis [C or U]) PRODUCTION, ECONOMICS ► the process of reducing the cost of producing a product without reducing its quality or how effective it is: »Substantial value engineering had to be done to control costs …   Financial and business terms

  • value engineering — value engineering, 1. the analysis as of a product or process to determine the least expensive method of design and production. 2. the modification as of a product or process as a result of such an analysis …   Useful english dictionary

  • Value Engineering — A systematic and organized approach to provide the necessary functions in a project at the lowest cost. Value engineering promotes the substitution of materials and methods with less expensive alternatives, without sacrificing functionality. It… …   Investment dictionary

  • value engineering — / vælju: endʒɪˌnɪərɪŋ/ noun analysis by a producer of all aspects of a product at the design stage to determine how it could be made at minimum cost ● Value engineering allows very economical production and competitive prices at every stage in… …   Marketing dictionary in english

  • value engineering — An organized effort directed at analyzing the function of Department of Defense systems, equipment, facilities, procedures, and supplies for the purpose of achieving the required function at the lowest total cost of effective ownership,… …   Military dictionary

  • Value Engineering — Bezeichnung für die ⇡ Wertanalyse im Hinblick auf ein in der Entwicklung befindliches Produkt mit dem Ziel der Kostenvermeidung …   Lexikon der Economics

  • engineering — en‧gi‧neer‧ing [ˌendʒˈnɪərɪŋ ǁ ˈnɪr ] noun [uncountable] MANUFACTURING the profession and activity of designing the way roads, bridges, machines, electrical equipment etc are built: • Most students specialize in one single branch of engineering …   Financial and business terms

  • value analysis — UK US noun [C or U] PRODUCTION, ECONOMICS ► VALUE ENGINEERING(Cf. ↑value engineering) …   Financial and business terms

  • Engineering geology — is the application of the geologic sciences to engineering practice for the purpose of assuring that the geologic factors affecting the location, design, construction, operation and maintenance of engineering works are recognized and adequately… …   Wikipedia

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