CME338 Syllabus - Value Engineering - 2021 Regulation Anna University

CME338 Syllabus - Value Engineering - 2021 Regulation Anna University

CME338

VALUE ENGINEERING

 L T P C

3003

COURSE OBJECTIVES:
1 To study the value engineering process and able to identify its functions within the process.
2 To determine the appropriate value engineering methodology for a given project and propose appropriate training to centralized and decentralized modes.
3 To learn various decision-making processes and cost evaluation models and apply them in appropriately in the product development life-cycle.
4 To explore in-depth understanding of various value engineering applications in human resources, manufacturing and marketing.
5 To demonstrate to implement value engineering solutions and propose to perfect them.

UNIT I

VALUE ENGINEERING BASICS

9

Origin of value engineering - Meaning of value engineering - Definition of value engineering and Value analysis- Value Management - Value Analysis Versus Value Engineering - Value Analysis versus Traditional cost reduction techniques - Types of Value function – Basic and Secondary functions - concept of cost and worth - creativity In Value Engineering - uses, applications, advantages and limitations of Value analysis.

UNIT II

VALUE ENGINEERING JOB PLAN AND PROCESS

9

Seven phases of job plan - FAST Diagramming as Value Engineering Tool - Behavioral and organizational aspects of Value Engineering - Ten principles of Value analysis - Benefits of Value Engineering.


UNIT III

VALUE ENGINEERING TECHNIQUES

9

Creativity - Brain storming - Gordon technique - Morphological Analysis - ABC Analysis- Probabilistic approach - Make or Buy decisions – Function cost worth analysis (FCWA) - Function Analysis System technique (FAST) - Break Even Analysis - Life cycle cost(LCC)

UNIT IV

WORKSHEETS AND GUIDELINES

9

Preparation of worksheets - general and information phase - Function Classification, relationship and summary - Meaningful costs - Cost analysis - idea listing and comparison - Feasibility ranking - Investigator phase, study summary - guidelines for writing value engineering proposal - Financial aspects - List cycle cost analysis - Oral presentation - Audit - Case studies and Discussion.

UNIT V

VERSATILITY OF VALUE ENGINEERING

9

Value engineering operation in maintenance and repair activities - value engineering in non hardware projects - Initiating a value engineering programme Introduction - training plan - career development for value engineering specialties.

TOTAL: 45 PERIODS

OUTCOMES: At the end of the course the students would be able to
1. Estimate a product cost based on value engineering principles in terms of its values, functions and worthiness.
2. Discuss the product and articulate it in various phases of value engineering
3. Discuss and select appropriate methods, standards and apply them on value engineering project and propose appropriate training
4. Apply querying theory and FAST to prefect a value engineering project implementation.
5. Develop various case studies related to value engineering project implementation.

TEXT BOOKS:
1. Iyer. S.S., “Value Engineering”, New Age International (P) Limited, 9th Edition, 2009 3Ed”, 2009.
2. Anil Kumar. and Mukhopadhyaya., “Value Engineering: Concepts Techniques and applications”, SAGE Publications, 1st Edition, 2003.

REFERENCES:
1. Del L. Younker., “Value Engineering: analysis and methodology”, CRC Press, 2003.
2. Richard Park., “Value Engineering A Plan for Invention”, CRC Press, 1998.
3. Arthur E. Mudge., “Value Engineering :A systematic approach", McGraw Hill, 1989.
4. Alphonse Dell'Isola., “Value Engineering: Practical Applications...for Design, Construction, Maintenance and Operations”, R.S. Means Company, 1997.
5. Lawrence D. Miles., “Techniques of Value Analysis and Engineering”, Lawrence D. Miles Value Foundation, 3rd Edition, 2015.

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