Value Engineering

Question 1

Organized effort directed ay analyzing designed building features

Answer 1

Value engineering

Question 2

GSA

Answer 2

General service construction

Question 3

PBS

Answer 3

Public building service

Question 4

Is a systematic method to improve the “value” of goods or products and services by using an examination of function.

Answer 4

Value engineering

Question 5

Is the ratio of function to cost

Answer 5

Product value

Question 6

Value engineering is also referred to as

Answer 6

Value management or value methodology
Value analysis

Question 7

GSA generally contracts for two value engineering studies:

Answer 7

• completion of concept design
• completion of design development

Question 8

Is a style of management particularly dedicated to motivating people, developing skills and promoting synergies

Answer 8

Value management

Question 9

A method to improve value in existing products

Answer 9

Value analysis

Question 10

Was used principally to identify and eliminate unnecessary costs

Answer 10

Value analysis

Question 11

Key principles of value management

Answer 11

• management style
• positive human dynamics
• consideration of external and internal environment
• effective use of method and tools

Question 12

Encouraging people to work together towards a common solution

Answer 12

Teamwork

Question 13

Recognizing and giving credit

Answer 13

Satisfaction

Question 14

Bringing people together by improving communication between them

Answer 14

Communication

Question 15

Challenging the status quo and bring about beneficial change

Answer 15

Encouraging change

Question 16

The assumption of ownership of the outcomes of value management activities by those responsible for implementing them

Answer 16

Ownership

Question 17

Taking account of pre-existing conditions external to the organization

Answer 17

External conditions

Question 18

Within the organization there will be existing conditions which managers may or may not be able to influence

Answer 18

Internal conditions

Question 19

The external and internal conditions will indicate the limits of potential outcomes and should be quantified

Answer 19

Degrees of freedom

Question 20

How is value management applied

Answer 20

• VM throughout the project lifecycle
• cost cutting vs value improvement
• understanding of client needs
• external ‘challenge’
• function analysis
• creativity

Question 21

Condensing or reduction of a “project” or other creative work into a shorter form

Answer 21

Abridgment

Question 22

Dedicated to motivating people for the overall performance of the organization

Answer 22

Value management

Question 23

Steps in value engineering

Answer 23

1. Data gathering
2. Think creatively
3. Evaluate ideas
4. Develop and analyze
5. Present discoveries
6. Implement changes

Question 24

Is a systematic, organized approach to providing necessary functions in a project at the lowest cost

Answer 24

Value engineering

Question 25

Refers to the systematic method of improving the value of a product that a project produces

Answer 25

Value engineering

Question 26

Is defined as the most cot-effective way of producing an item without taking away its purpose

Answer 26

Value

Question 27

The concept of value engineering evolved in the

Answer 27

1940s General Electric world war II

Question 28

The specific work it was designed to perform

Answer 28

Function

Question 29

Types of value

Answer 29

- use value - cost value - esteem value - exchange value

Question 31

Is the primary type of value and it is determined by the attributes of the good

Answer 31

Use value

Question 32

Of a product Is the primary purpose of value engineering

Answer 32

Use value

Question 33

Intrinsic value that often Extends beyond what the product is

Answer 33

Esteem value

Question 34

Describes the physical benefit of a product

Answer 34

Use value

Question 36

The last and smallest component of value relates to a product’s ability to be exchanged

Answer 36

Exchange value

Question 37

Is the technique often used before a product has been fabricated

Answer 37

Value engineering

Question 38

Is the technique used to analyze an existing product

Answer 38

Value analysis

Question 39

Difference between value engineering and value analysis

Answer 39

Value engineering- preventing unnecessary costs Value analytics- eliminating costs

Question 40

Is the process of designing a product to ensure the value a customer receives is maximized

Answer 40

Value engineering

Question 41

Value engineering is often broken into 6 stages:

Answer 41

- information gathering - brainstorming - evaluating - developing plans - presentation - implementation