Value Engineering

From Mycoted

A to Z of Creativity Techniques

Previous Technique Value Brainstorming

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Value Engineering endeavours to maximize the usefulness of a product via the most cost effective means:

• Identify its Basic Function e.g. a glass to hold a fluid, if it cannot hold a fluid is it unusable
• Identify its Secondary Function e.g. strength or colour of glass are not essential to hold the fluid, i.e. the fluid could be in a bag
• Identify its Supporting Functions i.e. colour, design on glass, non essential, but make the product look more desirable
• Cost-Effectiveness calculate how much it costs to implement each function.
• Ideas to Improve each Function Systematically go through each function and try to generate more effective and cheaper ways to achieve them.

This ‘bit by bit’ methodology helps to break down the ‘bigger picture’ (overall problem) enabling a better understanding. The technique can be used in situations where an expensive commodity exists but is thought to possibly be of little value.