Bio: C. Fallon is an academic researcher. The author has contributed to research in topic(s): Product design & Product engineering. The author has an hindex of 1, co-authored 1 publication(s) receiving 1 citation(s).
Topics: Product design, Product engineering, Product planning, Value engineering, Engineering economics
Abstract: Value Engineering is coming of age° In the hands of experienced product engineers it can grow into a truly professional tool for improving the competitive position of a company. It applies the precise techniques of science and engineering to those areas of evaluation, programming, and decision-making which have heretofore been governed by intuition. In estimating, bidding, and scheduling, Value Engineering saves not only money but also elapsed time. In design, development and production, it seeks the best ratio between desirable qualities and their cost in available resources. This paper will illustrate how Value Engineering can be utilized within the conventional engineering disciplines to provide the quantitative data necessary for better balanced specifications, for reducing areas of uncertainty in product planning, and for better decisions in both product design and program management.
Abstract: The use of value management tools in non-management and non-business domains appears to be high, as exemplified by numerous studies conducted on the subject matter in the construction based disciplines, but understanding how such essential tool works in the consumer based domains seems lacking, this study becomes relevant in this regard. The aim of the study therefore is to understand how consumer based and construction based firms differ with regard to the use, focus and control of value management on a firm-by-firm basis, locational basis and on the basis of industrial typology. The researchers adopted a survey research design using a 16-item questionnaire instrument administered to 509 respondents across 10 firms: 5 being consumer and the other 5 being construction based firms. The formulated hypotheses were tested using Kruskal-Wallis and Mann Whitney’s U-test for non-parametric comparisons. The results obtained showed that consumer based firms ranked higher than construction based firms, both on a firm-by-firm (CSB = 256.9, CTB = 247.4, email@example.com; CSB=264.6, CTB = 234.3, firstname.lastname@example.org) for focus and control, respectively, and on an industrial type (CSB = 267.65, CTB = 235.93, email@example.com; CSB = 268.71, CTB = 234.33, firstname.lastname@example.org; CSB = 269.21, CTB = 233.58, email@example.com; CSB = 268.38, CTB = 234.83, firstname.lastname@example.org) comparison basis on actual usage, perceived usage, focus and control of value management, respectively. For the locational difference, there were no statistical significance. The study concludes that there is a case for a multidisciplinary study of value management as it appears more present in consumer than construction based firms.