What is the meaning of value engineering?

Value engineering (VE) is systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. read more

Value engineering is the review of new or existing products during the design phase to reduce costs and increase functionality in order to increase the value of the product. The value of an item is defined as the most cost-effective way of producing an item without taking away from its purpose. read more

Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be manipulated by either improving the function or reducing the cost. read more

Value Engineering in Construction. When applied to the construction process, value engineering has enormous benefit for developers. The multi-step process is an integral part the design stage of a new development and aimed at increasing value. In value engineering, value is defined as function divided by cost. read more