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, consistent with requirements for performance, reliability, quality, and maintainability. | ||||
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Value engineering definition was found in categories: Business & Finance(1) Encyclopedia(1)
Value engineering Definition from Business & Finance Dictionaries & Glossaries
| Raynet Business & Marketing Glossary |
Value Engineering
trying to eliminate any unnecessary costs that do not contribute to the value and performance of the product or service.
trying to eliminate any unnecessary costs that do not contribute to the value and performance of the product or service.
Value engineering Definition from Encyclopedia Dictionaries & Glossaries
| Wikipedia English - The Free Encyclopedia |
Value engineering
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 is a primary tenet of Value Engineering that basic functions be preserved and not be reduced as a consequence of pursuing Value improvements. [1]
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