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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”.

Difficulty: Easy

Manufacturing cost of the product
Selling price of the product
Total cost of the product
Utility (function) provided by the product

Correct Answer: Utility (function) provided by the product

Explanation:

Concept
Value 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 Answer
Utility (function) provided by the product.

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