2. NameRoll No. Ayush Dixit 2012005 Steffi Fernandes2012022
Seema Popat 2012068 Mukesh Singh Rajput 2012033 3. Value Analysis1.
Cost reduction technique.2. Organised creative approach.3. Main
focuses.4. Birth Second World War.5. Recent years - Value
Engineering. Molecular Engineering. Vertical Thinking. 4. What is
ValueThe minimummoney which hasto be expended inpurchasing
ormanufacturing aproduct to createthe appropriateuse of
esteemfactors. 5. Division Of Value1. Use of functional Value.2.
Esteem Value.3. Cost Value.4. Exchange Value. 6. Advantages of
Value Analysis It leads to improvements in product design so that,
mostappropriate products are produced . High quality (value) is
maintained. All-round efficiency is achieved by eliminating waste
of varioustypes. Cost savings provide a measure for judging
managerialeffectiveness. New ideas are generated and incorporated.
Teams spirit and morale are improved. Areas requiring attention and
improvement are pin pointed. 7. Procedure of Value Analysis There
is no standard approach or procedure Ascertaining the needs and
wants of customers. Specifying the function of products
andcomponents. Determining the appropriate cost of
desiredperformance. Identifying better alternatives in terms of
worksprocedures. 8. Implementation of ValueAnalysisIdentifying the
function:-Primary.Secondary. Evaluation of the function by
comparison :- Basic question does the function accomplish
reliability at the best cost Develop Alternatives. 9. Value
Analysis Steps1. Gather Information.2. Measure Performance.3.
Analyse Functions.4. Generate Ideas.5. Evaluate and Rank Ideas.6.
Develop and Expand Ideas.7. Present Ideas. 10. Value Engineering
Value engineering is a total of managementwhich approaches the
question of saving costfrom the point of view of value. Requires
co-operation of all functionaldepartments. In large organisations,
there are valueengineering teams having full time jobs. 11. Value
Engineering Value and costValue = Function Cost Value: What the
product is worth to the customer. Function: Properties and
qualities of product. Cost: Money value of materials used, Labour
&indirect costs. 12. Value Engineering Suggestion schemes
Suggestion scheme facilitates the work ofvalue engineering team.
The scheme helps in the changes of valueengineering and makes it
implementationeasier. 13. Value EngineeringRequirement of a product
Use. Esteem.It is essential to be considered how much tobe added in
order to sell the part.The reasonable price of a product can
beobtained by comparing with a comparative product. 14. Value
Engineering ApproachNo standard approach discuss with
teammembers.Subject Basic questionAnalysisAnswerFunction What
functions 1) Is there any possibility of elimination? are
performed? 2) What alternative methods are available?Material What
is the1) Can alternative material be used? material 2) Can the
specification be amended? specification? What quantity of 1) Is the
size or weight of material material should excessive? be used? 2)
Can the quality be reduced?3) Will a cheaper material serve the
same purpose?4) Is the cutting done economically without waste? 15.
Value Engineering Approach SubjectBasic question AnalysisAnswer
Labour Which are the 1) Are all the operations necessary?direct
labour 2) Will alternative operations be cheaper?costs?3) Can
certain assembly operations be modified? ProcessAre the best1) Are
all the operations necessary?Processes being 2) Will alternative
operations be cheaper?used? 3) Can certain assembly operations be
modified? Standardizatio Are the materials 1) Can the materials be
standardized? nor components 2) Can a number of product use
standardstandard?(common) parts?3) Can methods be standardized? 16.
Waste Control Reasons for wastages in industry Obsolescence Surplus
Scrap Role of Management in waste control Proper inventory control
Materials management Effective Co-ordination among departments 17.
Input-Output Analysis Systematic study of production structure.
Predict total production of each year. Production structure of all
the industries are tobe grouped together. Output material of 1
sector becomes input raw-materials for the other. 18. Original
Information Innovation Evaluation Choice Implementation ReviewPhase
PhasePhasePhasePhasePhasePhase 19. 1. Product Design
andDevelopment1. Factors considered in product design :- Customers
requirement. Operators Convenience. Types of materials. Work
methods and equipment. 20. 1. Product Design and Development2.
Design.3. Planning.4. Specialized function.5. Visible in long run.
21. 2. Application of Value Engineering Overall quality and
performance. Work together to reduce cost. Latest developments.
Service function. Desired objective. 22. 3. Simplification of
Product1. Elimination of undesirable features.2. The main purpose
is to improve quality and to reduce unit costs. Reduce cost and
prices. Reduction of undesirable materials.3. Benefits.
