Value engineering

About: Value engineering is a research topic. Over the lifetime, 1231 publications have been published within this topic receiving 10882 citations. The topic is also known as: VE.

Bridge Asset Valuation and the Role of the Bridge Management System

Abstract: Today, most if not all transportation agencies or Departments of Transportation (DOT) are moving towards implementing asset management systems or components of asset management systems. Asset management systems for bridges generally answer fundamental questions about ownership, location, and condition, and most also address the cost of preservation and improvement needs, as well as the forecasting of future performance. But so far there are few tools to estimate the economic value of bridge assets and the effect of agency policy on this valuation. This question has become especially important to many agencies in response to the US Government Accounting Standards Board's Statement 34 (GASB 34), and it is also a useful performance measure for management decision support. In this paper, methods to determine the asset valuation of structural assets are discussed, and means to carry out these calculations are shown which can be implemented in a bridge management system. Different GASB 34 compliant methods are shown which can be used depending on the agency preference. For the covering abstract of this conference see ITRD number E

Product design simplification to increase competitiveness with a value engineering approach to the wastafel flean industry

Abstract: The strength of international competitiveness encourages companies to do optimization. Therefore, the increase in productivity which improves competitiveness must be done. The purpose of this study is to look for the best solution to optimize designs with the best value and cheapest engineering approach that can be executed on the sink faucet production. After a value engineering, obtained high-cost items such as components with brass/metal, local and imported material. Then look for alternative designs with cost criteria, namely Life Circle Cost (LCC) and the Initial Cost as well as with zero one non-cost criteria matrix and pairs matrix. The result obtained a design that qualifies for the product by replacing the faucet's construction and dimensions but still meets the requirements of comfort, functionality, and safety in use. With this alternative earned savings of 19.6% of the total cost.

How do Integration and Data Models Add Value to a Project

Abstract: Integration has been at the forefront of research agendas of universities and restructuring efforts of companies in the past few years. However, we are still lacking a common understanding of what integration is. Maybe more importantly, there is little discussion and evidence of the value integration adds to a project. Integration is generally seen as good per se. However, the somewhat slow transformation from the current fragmented project delivery process to a more integrated process seems to belie that assumption. This paper identifies current ways of organizing projects, the traditional value adding process, and accounting systems in place today as the major barriers to the implementation of more integrated project delivery systems. If we are not able to overcome these barriers it will be difficult to measure the value and justify the adoption of integration technology in the AEC industry.

Improving Feasibility of High-Speed Train Project: Creating Added Value

Abstract: Infrastructure plays a significant role in increasing economic development by providing access of transportation and improving connectivity. High-speed train (HST), one of mega infrastructure projects, has a positive impact on economic development of a nation. However, the project feasibility requires the maximum value for money and an acceptable risk to attract private investors. This study aims to improve the feasibility of the project by producing a conceptual design of Jakarta-Surabaya high-speed train in Indonesia. Value engineering will be used to evaluate both technical and financial aspects of the project. The methodology uses both qualitative and quantitative approaches through a case study, indepth interviews, and life-cycle cost analysis. The result shows an optimum route sketching for the project and potential added value to the project. It consists of the solar cell, fiber optic, tourism, and transit-oriented development. The output also generates the division of responsibility between the government and business entity during the project lifecycle regarding the project financing. The institutional scheme will regulate the position and roles for each related stakeholder that was involved in the HST project development.

Studying the obstacles of applying a target costing system in firms accepted in Tehran Stock Exchange

Abstract: Target system is one of the most important techniques which can help organizations to improve cost-based performances. In this method, the products' sale price is anticipated before production processes start, based on surveys in the market and manufacturers try to design and manufacture a product according to the predetermined cost to ensure the management's desirable profit. Meanwhile, it should have a desirable quality and benefit from a competitive status, in a way that absorbs customers' satisfaction in suitable manner. In this research, we will focus on studying the obstacles of applying a target costing system in firms accepted in Tehran Stock Exchange. The statistical population of this research involves a sample of 100 people from among the managers and scholars of firms accepted in Stock Exchange. For statistical method of the research, we use T-Students test in regression analysis. The findings of this research indicate that the following items are among the obstacles of applying a target costing system: “it is impossible to assign a competitive price”, “costumers' satisfaction idea is not common”, “there is no group work spirit”, “activity-based costing system is not used”, and “value engineering is not utilized”. Key words: Cost management, cost management techniques, target costing, value engineering.