Steps in Value Analysis

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In order to answer the above questions, three basic steps are necessary:

1. Identifying the function: Any useful product has some primary function which must be identified—a bulb to give light, a refrigerator to preserve food, etc. In addition it may have secondary functions such as withstanding shock, etc. These two must be identified.

2. Evaluation of the function by comparison: Value being a relative term, the comparison approach must be used to evaluate functions. The basic question is, ‘Does the function accomplish reliability at the best cost’ and can be answered only comparison.

3. Develop alternatives: Realistic situations must be faced, objections should overcome and effective engineering manufacturing and other alternatives must be developed.

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