In today’s global marketplace, there is an increased demand for more efficient and effective ways to satisfy customer and stakeholder needs. Increasing competition, decreasing revenues and resources, emerging technologies, government regulations, and changing markets force businesses to routinely re-evaluate the functions they perform and reallocate resources to survive. Organizations need a structured team method to create new ways to satisfy requirements within resource constraints and expedite consensus decisions which are necessary to exploit changes as profitable business opportunities. Value engineering provides the way.
Similarly, value engineering evolved and has a wide range of application possibilities today. The method is applied to analyze and improve the return on investment from design and construction projects, facility operations and maintenance, energy conservation and sustainability initiatives, manufactured products and production processes, business services and administrative procedures, and software development projects. Value engineering can be applied to challenge the status quo, generate ideas, and create a plan to fulfill any need that can be expressed in terms of functions and related costs.
Therefore, this professional training will create a pathway in the form of various methods to improve the value of projects, products, processes, facilities, and infrastructure by analyzing and improving the relationship between the cost and worth of their functions. Value can be increased by improving the functions or reducing the costs.
Value Engineering training, related knowledge, and skills is an opportunity for organizations that focuses to a great extent on improving the functionality as per the customers’ needs and requirements in a product/service and less on unwanted and inefficient functionality by reducing the cost which adds value to the product and services.
Benefits of Organization
Implement Value Engineering in the workplace
Enhance Existing Processes and Increase Efficiency
Cost Reduction and Increase Profitability
Reduce unscheduled downtime and production interruptions
Reduce maintenance costs by 50-70%
The participants will be able to
Identify the customers ‘needs and requirements
How to Enhance the functionality of the products
Way to Prioritizing the customers’ functionality requirement
How to Improve the worth of the product
Ways to Eliminate the unwanted and unnecessary functionality
Implement and apply techniques to Reduce the overall cost of the products and processes
Learn to Enhance efficiency and meet targets
Who Should Attend?
Operational Excellence Personnel
Quality Assurance Personnel.
Day 1: Value and Quality Concepts
Introduction and History of Quality and Value
Value and Quality concept
Reasons for unnecessary cost
Define Quality and value
Why Value Engineering
Information Gathering and scope defining (Problem identification and collection of Data, Selection of (product, service, operation as an Example)
Day 2: Function Analysis
Identify and Classify Functions
Allocation of Cost to Function
Pareto Law of Distribution – Organizational Examples