Value:

value is the minimum money that has to be expended in purchasing a product to create the appropriate use value can be classified as 1. Function value 2. Esteem value 3. Cost value 4. Exchange value value = function/ cost

 Value

engineering is an analysis of the functions of a program, project, product, item of equipment, building, facility, service or supply of an executive agency performed by qualified agency or contractor personnel, directed at improving performance, reliability, quality, safety, and life cycle cost

practitioners

Concept of value

Function analysis

Job plan

Team seoection

Contract language

Major objectives are 1. Saving in cost 2. Quality promotion 3. Import substitution 4. Maximization of the value of product 5. Elimination of unnecessary processes 6. New product and product design 7. Company image

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2. 3. 4. 5.

Information phase Speculative phase Analysis phase Decision and action phase In evaluation phase