Whether you are interested in enhancing your own applications of VE and LCC – or you need to understand the current methodology in order to hire a practitioner and oversee the process – this unique publication will provide the information you are seeking. The book shows you: How to organize and apply VE and life cycle costing for maximum benefit Real-life VE demonstration projects – professionally organized reports, with recommendations you can apply right now Project workbook with forms to conduct a complete VE study

This invaluable reference teaches effective and practical techniques to improve the overall performance and outcome of design projects in various industries. Value Engineering highlights the application of value methodology to streamline current day operations, strategic planning in company or business segments, and everyday business decisions in the private sector. The book shows how to maximize budgets, reduce life cycle costs, improve project understanding, and create better working relationships. It explains how to gather information for the creation, evaluation, development, and presentation of new project ideas and shows how to design an appropriate task agenda and timeline.

What would happen if everyone in your company followed a disciplined approach to cost reduction? Go ahead -- imagine it. What would it look like? How can it be done? The answer -- smart cost management. Effective cost management must start at the design stage. As much as 90-95% of a product's costs are added in the design process. That is why effective cost management programs focus on design and manufacturing. The primary cost management method to control cost during design is a combination of target costing and value engineering. Target Costing Objectives: Identify the cost at which your product must be manufactured at if it is to earn its profit margin at its expected target selling price. Break the target cost down to its component level and have your suppliers find ways to deliver the components they sell you at the set target prices while still making adequate returns. Value Engineering: The connection to function: An organized effort and team based approach to analyze the functions of goods and services that the design stage, and find ways to achieve those functions in a manner that allows the firm to meet its target costs. The result: Added value for your company (development costs on-line with added value for your company; development costs on-line with selling prices) and added value for your customer (higher quality products that meet, possibly even exceed, customer expectations.)

The SAVE International Value Methodology (VM) Body of Knowledge, VM Guide®, is the definitive resource for the theory and practice of value improving techniques. This essential guide serves as the foundation for SAVE International's standards of practice and professional certification program. In it, readers will find a wealth of information regarding the underlying process, known as the VM Job Plan, as well as guidance on the application of techniques that support the performance of VM Studies. This volume also includes practical guidance on facilitation techniques as well as the creation and management of VM programs.