M.E. Production & Industrial Engineering:Value Engineering

Concept of value, cost and price, customer and value, philosophy and objectives of value analysis, types of value, areas of application of value engineering, limitations of value analysis, difference between value engineering and cost reduction techniques; Tool of technology in value analysis, method & engineering, cause and effect diagram, SWOT analysis, break even analysis, systems approach; Job plan for value analysis approach: Information phase, Function Phase, Creation Phase, Evaluation Phase, Recommendation Phase, Implementation Phase, Audit Phase; Value Engineering Cell, value manual, composition of cell, Cost cutting, various cost cutting techniques; Case studies in value engineering and analysis from manufacturing and service industries.