Value engineering or value analysis had its birth during the World War II Lawrence D. Miles was responsible for developing the technique and naming it. Value analysis is defined as “an organized creative approach which has its objective, the efficient identification of unnecessary cost-cost which provides neither quality nor use nor life nor appearance nor customer features.” Value analysis focuses engineering, manufacturing and purchasing attention to one objective-equivalent performance at a lower cost.
Value = Function/Cost
Latest posts by BMS Team (see all)
- Meterdown Annual Festival is back with its 7th edition – Starts today! - January 16, 2020
- Tybms sem 6 results 2019 declared on 19th June 2019 - June 19, 2019
- TYBMS Sem 6 Results 2019 Update from BMS khabri! - June 15, 2019