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Implementation of Value Engineering

Value engineering is a systematic method to improve value by examining functions. It aims to cut costs without affecting quality, efficiency or customer benefits. The value engineering process includes information gathering, creative idea generation, development of alternatives, evaluation, and recommendations. Applying value engineering to a flush valve case study identified cost savings of 55% by selecting a lower-cost material alternative that provided the same value and performance.

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ANCHAL SINGH
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38 views

Implementation of Value Engineering

Value engineering is a systematic method to improve value by examining functions. It aims to cut costs without affecting quality, efficiency or customer benefits. The value engineering process includes information gathering, creative idea generation, development of alternatives, evaluation, and recommendations. Applying value engineering to a flush valve case study identified cost savings of 55% by selecting a lower-cost material alternative that provided the same value and performance.

Uploaded by

ANCHAL SINGH
Copyright
© © All Rights Reserved
Available Formats
Download as PPTX, PDF, TXT or read online on Scribd
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Implementation of Value

Engineering
Submitted by Kashish Jain
Anchal singh
Jatin Tuli
Robin
Ashish
Value Engineering ?

• Value engineering is a systematic method to


improve the “value” of the good or product
and services by using an examination of
function. Value is the ratio of function cost.
Value can be increased by either improving
the function or reducing the cost.
Introduction
• Technique for determining manufacturing
requirement of a product/service
• Concerned with its evaluation and selection of
less costly conditions.
• Improves the effectiveness of work and results
accomplished are far greater.
• Main aim is to cut the unnecessary cost without
affecting the quality, efficiency and other
customer features
• Also called as Value analysis
Value Analysis
VE Job Plan
• Providing the needed functions reliably, safely
• Improving the value and quality of the project
• Reducing the time to complete the project
VE Job Plan

Information
Phase

Presentation Creative
Phase Phase

Development Judgment
Phase Phase
Problems
• Lack of information
• Wrong beliefs, insensitivity to public needs
• Habitual thinking, customs and tradition
• Risk of personal loss
• Negative attitudes
• Poor human relation, Lack of good
communication
Case analysis
 In this case discussing about Sumit
Engineering Pvt. Ltd.
 Produce wide range of bath fitting products.
 All conforming to international standard.
 More than 800 products manufactured in this
plant.
 Company is ISO 9001:2001 certified for
manufacturing taps
VAM applied to Flush valve. The steps used in
analysis:
• Detailed information about the part is collected
• Functional Definition Worksheet is prepared
• Creative Worksheet is prepared
• Evaluation done through Decision matrix
• Finding and Recommendation
• Result
Finding and recommendation
• We can see that “A” alternative has the higher
score out of all the alternative, means
Alternative A is cost effective with same value.
• Recommended that Flush Valve Sleeve should
be made in the factory ZAMAK.
Performance Cost Value score
Score

Alternatives
A 221.39 25 8.85
B 242.81 45 5.39
C 135.68 55 2.46
Result
Benefits after implementing of value
engineering
Cost Benefits
Cost of Part Before Value RS 55/-
Engineering

Cost of Part After Value Rs 29/-


Engineering

Saving Per part Rs 16/-

Value Improvement 55%

Expected Annual savings Rs 192000/-


Solution
• All the team member firstly determine the true
needs of the project they identify the area of high
cost or low worth
• The team lists come creative idea generate from
its review from the project with the aim to
obtains a large number of idea and thoughts.
• In the development phase the team prepare
alternate VE designs with capital life cycle cost
which helps in predicting the overall cost which
cab be present or increased in future.
Cont.…
• The team should do same judgemental creativity
ideas are analysed and a team select the best
ideas for future development even they should
go for elimination some feature and provide only
consumer needs. So that the provide only
product remain same in the eye of customer.
• The team provide on overall summary of its
finding to the owner and the designer which
explain the basic idea recommended their cost
saving.
Conclusion

• Identify additional function that aren’t attractive


to customers.
• Add attractive function for customers.
• Saving because of the elimination of redundant
function.
• In future we can make the change in the design
so that the value of the product can ever be
enhanced. Various other industrial engineering
tool like QFD with value engineering can be made
the of further improvement.

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