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In this article we will visit what is value engineering and checklist points for value engineering projects. Value engineering in simple is used to determine good design, reduce cost, improve quality, increase reliability and enhance customer satisfaction.

Various areas of a product looked into in value engineering are Material, Standard Parts, Number of parts, Weight, Tooling, Reliability, Maintainability and Process Lead time.

Following are some of the check points can be used as checklist in value engineering,

  • Can the part or standard part be eliminated?
  • If the part used is not a standard, can a standard item be used?
  • If it is a standard item, does it completely fit the application, or is it a misfit?
  • Does the item have greater capacity than required?
  • Can the weight of part or product be reduced?
  • Is there a similar part used in before or in inventory that could be substituted?
  • Is tight tolerances specified in drawings required?
  • Is the part can be manufactured at less cost in the plant? Or source from outside for less cost?
  • Can cost of product packaging be reduced?
  • Are suppliers involved in reducing cost of the product?

Let us know what are other checklists points used by you or in industry for improving the return by value engineering.

 





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