Value engineering: meaning of “value” in design-to-cost analysis In value engineering, the goal is to maximize function for minimum cost. Select the best interpretation of “value”.
Mechanical Engineering
Industrial Engineering and Production Management
Difficulty: Easy
Choose an option
-
AManufacturing cost of the product
-
BSelling price of the product
-
CTotal cost of the product
-
DUtility (function) provided by the product
Answer
Correct Answer: Utility (function) provided by the product
Explanation
ConceptValue engineering focuses on delivering the required function/utility at the lowest life-cycle cost. In shorthand, Value ≈ Function ÷ Cost. Among the options, “utility of the product” best captures the numerator.
Final AnswerUtility (function) provided by the product.