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Theme : Cost Effectiveness through Value Engineering

Date: Friday, 9 May 2008
Venue: Hotel Atria, Chancery Hall, Palace Road, Bangalore

BACKGROUND

Value Engineering is the systematic application of recognized techniques by a multi-disciplined team which identifies the function of a product or service; establishes a worth for that function; generates alternatives through the use of creative thinking; and provides the needed functions to accomplish the original intent of the project, reliably and at the lowest life-cycle cost without sacrificing project requirements for safety, quality, operations, maintenance, and environment.

VALUE = FUNCTION / COST

Value engineering (VE) is the systematic review of a project, product, or process to improve performance, quality, and/or life-cycle cost by an independent multidisciplinary team of specialists. It is the focus on the functions that the project, product, or process must perform that sets VE apart from other quality-improvement or cost-reduction approaches.

The VE process, referred to as the Job Plan, defines a sequence of activities that are undertaken during a VE study, before, during, and following a workshop. During the VE workshop, the VE team learns about the background issues, defines and classifies the project (or product or process) functions, identifies creative approaches to provide the functions, and then evaluates, develops, and presents the VE proposals to key decision makers.

VE Concept

Value Engineering is an approach to productivity improvement that attempts to increase the value obtained by a customer of a product by offering the same level of functionality at a lower cost.

What is Value Engineering?

Today, VE is not only recognized but also acclaimed as one of the best Value Improving Practices that management can deploy. Its successful application to strategic planning, quality improvement, management studies, manufacturing, and construction has demonstrated both its versatility and its durability as a management practice.

Three things differentiate VE from other management tools:

* VE is function based
* VE is multidisciplinary
* VE follows a specific methodology

In Industry, VE enables you to:

* Reduce time to market
* Reduce product and operating costs
* Use resources more efficiency & effectively
* Compete successfully
* Increase employee involvement/contribution
* Optimize scope and budget
* Clearly define the project/process approach
* Reduce waste
* Gain consensus
* Give clear direction to the project team

Why VE?

In these days management environment is kaleidoscopically changing. Not only the efficiency but also the continued innovation is essential for corporate management. It is not possible to meet today's highly-advanced customers' demands by just quantitatively producing low-priced merchandises.

Corporate efforts must be focused on the innovation doing away with conventionality rather than the betterment of actuality, always keeping in mind what should we do, which functions should be achieved to enhance the value of products, services, etc.
VE is the technique which is exactly for value improvement and is also a critical management technique for the leading companies of New Century.

The Seminar

The Seminar brings you latest technology & methods in VE application and will provide with various tools and models to develop in-house VE system. It provides the participant hands-on information regarding the successes of VE application.

The Objective

The purpose of this seminar is to bring into the light the current VE practices and applications in various spheres - viz Manufacturing, Process, Services, etc.

Focus Areas

The seminar focuses on:

* VE in Manufacturing
* VE in Process Industry
* VE in Engineering
* VE in Services
* VE in Logistics
* Case Studies & Success Stories

The Target Audience

The seminar is designed for those who are involved with product or service, design, engineering, implementation, manufacturing and all other major functions, including technical and non-technical.






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