An Improved Effective Cost Review Process for Value Engineering
Second-look value engineering (VE) is an approach that aims to lower the costs of products for which target costs are not being met during the production stage. Participants in second-look VE typically come up with a variety of ideas for cost cutting, but the outcomes often depend on their levels of...
Saved in:
| Main Authors: | , |
|---|---|
| Format: | Article |
| Language: | English |
| Published: |
Wiley
2014-01-01
|
| Series: | The Scientific World Journal |
| Online Access: | http://dx.doi.org/10.1155/2014/682051 |
| Tags: |
Add Tag
No Tags, Be the first to tag this record!
|
| _version_ | 1832556410417709056 |
|---|---|
| author | D. S. Joo J. I. Park |
| author_facet | D. S. Joo J. I. Park |
| author_sort | D. S. Joo |
| collection | DOAJ |
| description | Second-look value engineering (VE) is an approach that aims to lower the costs of products for which target costs are not being met during the production stage. Participants in second-look VE typically come up with a variety of ideas for cost cutting, but the outcomes often depend on their levels of experience, and not many good alternatives are available during the production stage. Nonetheless, good ideas have been consistently generated by VE experts. This paper investigates past second-look VE cases and the thinking processes of VE experts and proposes a cost review process as a systematic means of investigating cost-cutting ideas. This cost review process includes the use of an idea checklist and a specification review process. In addition to presenting the process, this paper reports on its feasibility, based on its introduction into a VE training course as part of a pilot study. The results indicate that the cost review process is effective in generating ideas for later analysis. |
| format | Article |
| id | doaj-art-c85bc67f43384ed7be868b2d34c7b6bc |
| institution | Kabale University |
| issn | 2356-6140 1537-744X |
| language | English |
| publishDate | 2014-01-01 |
| publisher | Wiley |
| record_format | Article |
| series | The Scientific World Journal |
| spelling | doaj-art-c85bc67f43384ed7be868b2d34c7b6bc2025-02-03T05:45:33ZengWileyThe Scientific World Journal2356-61401537-744X2014-01-01201410.1155/2014/682051682051An Improved Effective Cost Review Process for Value EngineeringD. S. Joo0J. I. Park1Department of Industrial Engineering, Ajou University, San 5, Woncheon-dong, Yeongtong-gu, Suwon 443-749, Republic of KoreaDepartment of Industrial Engineering, Ajou University, San 5, Woncheon-dong, Yeongtong-gu, Suwon 443-749, Republic of KoreaSecond-look value engineering (VE) is an approach that aims to lower the costs of products for which target costs are not being met during the production stage. Participants in second-look VE typically come up with a variety of ideas for cost cutting, but the outcomes often depend on their levels of experience, and not many good alternatives are available during the production stage. Nonetheless, good ideas have been consistently generated by VE experts. This paper investigates past second-look VE cases and the thinking processes of VE experts and proposes a cost review process as a systematic means of investigating cost-cutting ideas. This cost review process includes the use of an idea checklist and a specification review process. In addition to presenting the process, this paper reports on its feasibility, based on its introduction into a VE training course as part of a pilot study. The results indicate that the cost review process is effective in generating ideas for later analysis.http://dx.doi.org/10.1155/2014/682051 |
| spellingShingle | D. S. Joo J. I. Park An Improved Effective Cost Review Process for Value Engineering The Scientific World Journal |
| title | An Improved Effective Cost Review Process for Value Engineering |
| title_full | An Improved Effective Cost Review Process for Value Engineering |
| title_fullStr | An Improved Effective Cost Review Process for Value Engineering |
| title_full_unstemmed | An Improved Effective Cost Review Process for Value Engineering |
| title_short | An Improved Effective Cost Review Process for Value Engineering |
| title_sort | improved effective cost review process for value engineering |
| url | http://dx.doi.org/10.1155/2014/682051 |
| work_keys_str_mv | AT dsjoo animprovedeffectivecostreviewprocessforvalueengineering AT jipark animprovedeffectivecostreviewprocessforvalueengineering AT dsjoo improvedeffectivecostreviewprocessforvalueengineering AT jipark improvedeffectivecostreviewprocessforvalueengineering |