Chapter 35

Value Management

Abstract

Value management is explained in this chapter as the need to question at every stage—what can be improved and how this can be achieved. The objective is to reduce costs (production and overheads), waste, and harmful emissions and improve design, quality, marketability, and delivery. Also described is the application of value analysis, value engineering, and the use of function analysis.

Keywords

Value management; value engineering; function analysis; value analysis

In a constantly changing environment, methods and procedures must be constantly challenged and updated to meet the needs and aspirations of one or more of the stakeholders of a project. This need for constant improvement was succinctly expressed by ...

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