Syllabus of National Institute of Technology - Tiruchirappalli (NIT-T) MBA - MB772 Value Engineering & Waste Control

Background and Significance of value engineering effects change in technological, commercial and governmental factors - VE as a new discipline - General operation and costs - Relations of VE to other operations. The Principles of value engineering; Problem recognition and definition: the role of creativity - Criteria for comparison - Element of choice.

The meaning and analysis of function - General concepts -Meaning of use, esteem and exchange values Anatomy of functions - Basic Vs Secondary Vs Unnecessary functions -Evaluating functions. The role of Management in value engineering - An integral part of VE programme - Responsibilities - Organization for VE - Orientation of management - budget auditing - Merit recognition.

Value engineering techniques - selecting products and operations for VE action - How to time VE programme - Determining and weighing the function - Assigning money equivalents - Developing alternatives in decision making - Measuring benefits - Reporting results - Follow up. Value and decision - Decision process - Theory of the decision metric (linear programming) - Concept of utility - Make or Buy.

Scheduling of value engineering activity - manual system - Gantt charts - PERT charts and technique net work logic - Critical Path Method (CPM) - use of control charts. Organisation and staffing for value engineering - General Organisation concept - Relation of Organisation to expected VE actions Centralization Vs decentralization level of VE in the Organisations - Small Plant VE activity - Size and skills of VE staff.

Training for value engineering - Objective - Initial programme - Management Orientation -agenda
Details - training of value engineering - indoctrination of peripheral personnel - who should conduct training: Programme costs. Value engineering at work: Variety Reduction - Case Studies with costs of VE efforts improving function - Quality performance - Reliability and market values and in decreasing direct and indirect labour costs - Materials cost capital cost. Value management and Life Cycle costing

Book:

1. MILES, L.D., 'Value Engineering', Harlod Tutty, Compendium VB.