Value Engineering

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Value Engineering
History, Evolution, and Today’s Principles

Chad C. Dobbins
January 3, 2012

Table of Contents

Page
Abstract ………….………………………………………………………………………………………………….. 3
Introduction ………………………………………………………………………………………………………. 4
Value Engineering Principles ………………………………………………………………….. 7
FAST Diagram Models …………………………………………………………………………………. 12
Conclusion …………………………………………………………………………………………………………… 17
References ………………………………………………………………………………………………………… 19

Abstract

The objective of this technical paper is to introduce the concept of value engineering. We will describe a few techniques used in the process and their application in life and business. It is a thought process that evolved out of a time of economic hardship, when people sought more creative ways to produce goods and survive in tougher times. By analyzing the function of something, the purpose of value engineering is to increase the value of a product by making it better or more efficiently through an exploratory process of information gathering, function analysis, brainstorming, idea evaluation, and implementation. Through a series of these planned stages, a small multi-disciplinary group of 5-7 people can find unimaginable solutions to problems that were once thought to be accepted practice. Design specifications and product functions are explored in regard to all costs and revenues involved in productions. The process can be applied to an entire manufacturing process, or for smaller items involved in the process of manufacturing something larger. We will explore the history and evolution of Value Engineering and its use in today’s economy and government functions.

Introduction

During the Great World Wars of the early Twentieth Century, times were tough as economies had to focus on the war effort as opposed to operating on the premise of business as usual. American women and children helped to fill voids in the workforce as men shipped



References: 1. Dr. Amos, Scott J., Chapter 24. Value Analysis, Skills & Knowledge of Cost Engineering 5th Edition. Morgantown, WV : AACE International, 2007, 24.2. 2. King, Thomas R. Chapter 1, Beginnings and Growth: Value Engineering. Washington, D. C.: The Lawrence D. Miles Foundation, 2007: 3. 4. Dr. Amos, Scott J., Chapter 24. Value Analysis, Skills & Knowledge of Cost Engineering 5th Edition. Morgantown, WV : AACE International, 2007, 24.2. 5. King, Thomas R. Chapter 5, Group Dynamics: Teams and Teamwork, Value Engineering. Washington, D. C.: The Lawrence D. Miles Foundation, 2007: 40. 6. King, Thomas R. Chapter 4, Function Analysis, Value Engineering. Washington, D. C.: The Lawrence D. Miles Foundation, 2007: 28. 7. King, Thomas R. Chapter 4, Function Analysis, Value Engineering. Washington, D. C.: The Lawrence D. Miles Foundation, 2007: 27. 8. King, Thomas R. Chapter 9, Conducting the Value Engineering Study: The Middle Phases: Function Analysis and Idea Generation, Value Engineering. Washington, D. C.: The Lawrence D. Miles Foundation, 2007: 103. 9. King, Thomas R. Chapter 10, Evaluation & Implementation Phase, Value Engineering. Washington, D. C.: The Lawrence D. Miles Foundation, 2007: 122. 10. Dr. Amos, Scott J., Chapter 24. Value Analysis, Skills & Knowledge of Cost Engineering 5th Edition. Morgantown, WV: AACE International, 2007, 24.6. 11. Dr. Amos, Scott J., Chapter 24. Value Analysis, Skills & Knowledge of Cost Engineering 5th Edition. Morgantown, WV: AACE International, 2007, 24.6. 12. Dr. Amos, Scott J., Chapter 24. Value Analysis, Skills & Knowledge of Cost Engineering 5th Edition. Morgantown, WV: AACE International, 2007, 24.6. 13. King, Chapter 7, FAST Diagramming, Value Engineering. Washington, D.C.: The Lawrence D. Miles Foundation, 2007: 63. 14 16. King, Thomas R. Chapter 4, Function Analysis, Value Engineering. Washington, D. C.: The Lawrence D. Miles Foundation, 2007: 27. FAST Diagram #1 - Model – King, Chapter 7, FAST Diagramming, Value Engineering. Washington, D.C.: The Lawrence D. Miles Foundation, 2007: 64. FAST Diagram #2 – Construction Cost Estimating – created by author, Chad C

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