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Definition of Value engineering

Value engineering Definition from Business & Finance Dictionaries & Glossaries
Raynet Business & Marketing Glossary
trying to eliminate any unnecessary costs that do not contribute to the value and performance of the product or service.
Copyright © 2001, Ray Wright
Value engineering Definition from Government Dictionaries & Glossaries
DOD Dictionary of Military Terms
An organized effort directed at analyzing the function of Department of Defense systems, equipment, facilities, procedures, and supplies for the purpose of achieving the required function at the lowest total cost of effective ownership, consistent with requirements for performance, reliability, quality, and maintainability.
  
Source: U.S. Department of Defense, Joint Doctrine Division. ( About )
Value engineering Definition from Encyclopedia Dictionaries & Glossaries
English Wikipedia - The Free Encyclopedia
Value engineering (VE) is systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements.

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