Beyond value engineering: smart value management for building projects

Green, Stuart

doi:10.1016/0263-7863(94)90009-4

Cited by 89 publications

(53 citation statements)

References 4 publications

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“…[e.g., Deaton and Muellbauer, 1980]. An amount of research explores the value of products and services-e.g., the value engineering literature [e.g., Green, 1994;Park, 1998]. Customer value has two aspects:…”

Section: Customer Value Driven By Product and Process Attributesmentioning

confidence: 99%

On customer value and improvement in product development processes

Browning

2003

Systems Engineering

115

101

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In an effort to improve company operations and their results, more firms are applying the principles of Leannot only to manufacturing but also to systems engineering processes. Too often, however, this is done with a shallow understanding of Lean and/or without a systems view, in which case Lean creates new problems and tensions and may not deliver expected results. Lean is not about just minimizing cost, cycle time, or waste. Lean is about maximizing value. In systems engineering or product development (PD), maximizing value may require doing more activities, not fewer. Since a process is a kind of system, a systems view and systems engineering principles are helpful. As the value of a system is more than the value of its individual components, the value of a process is more than the value of its individual activities. Value is driven not only by the presence of necessary (value-adding) activities in the PD process but also by the way those activities work together to ensure that they use and produce the right work products, services, and information at the right time. This paper discusses how value is added in PD through work on activities and the production of deliverables. It integrates findings from several streams of research and provides bases upon which to build improved value models. It shows how the concept of Lean can broaden from asking What wasteful activities can we stop doing? to include insights from asking What helpful activities can we start doing, and when?

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Section: Customer Value Driven By Product and Process Attributesmentioning

confidence: 99%

On customer value and improvement in product development processes

Browning

2003

Systems Engineering

115

101

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“…Value of the product can be increased without compromising its quality [3]. x Achieve same function at lesser cost x Achieve a multiple function at lesser cost x Achieve a multiple function at greater cost.…”

Section: ‫ܥ‬ ‫ݐݏ‬mentioning

confidence: 99%

Application of Value Engineering to Rework Reduction in Ship Building Project

Desai

Prajapati

Patel

2016

MATEC Web of Conferences

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Abstract-Value engineering is an organized creative technique to analyze the function of a product or a system for achieving the required function at minimum cost along with required performance, reliability, maintainability, appearance, safety etc. Value engineering has been proved to be a very effective tool of materials management and cost reduction in modern industry. It proceeds with the analysis of the value or the utility of the product and then to investigate as to how the value can be improved or if the part can be eliminated or replaced by any other part of the same value (utility) or lesser cost. The paper presents the application of value engineering to minimize rework in ship construction and reduction of cycle time of a project.

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“…Since sustainability involves multiple themes, it is important to determine the weightage of each theme within the project context. The Decision Matrix [19] is one of the evaluation models that can be used during the Evaluation Phase. To ensure coherence within the Value Study, evaluation criteria should be developed based on the project's value drivers and directly related to the Project Decision Matrix developed during the LFA.…”

Section: Determine Evaluation Criteria Based On Value Driversmentioning

confidence: 99%

“…In SMART VM, multiattributes are used as the decision criteria in choosing the best project proposal option. Green advocated SMART VM as an innovation to the traditional single attribute VM, where cost is the only determining criterion in selecting options [19].…”

Section: Introductionmentioning

confidence: 99%

Achieving Sustainable Value Planning For Malaysian Public Projects

et al. 2016

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Abstract. Sustainability is the central development issue in the modern economy. Through sustainable development, quality of life can be improved or maintained over time. Since Malaysia is targeting to become a high-income nation by the year 2020, financial investment in public projects should be planned comprehensively so that it will generate immediate and long-term benefits to the country and the people. Within the currently tight financial environment, achieving value for money in public spending is seen as one of the enablers to maintain the right momentum of economic growth. Previous studies have established the importance of integrating sustainability consideration into Value Planning protocol in order to achieve value for money, underpinned by the sustainable development agenda. Despite the establishment of the framework for the integration, the opportunity of such integration within the Malaysian Value Planning protocol for public projects remains unclear.

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Beyond value engineering: smart value management for building projects

Cited by 89 publications

References 4 publications

On customer value and improvement in product development processes

On customer value and improvement in product development processes

Application of Value Engineering to Rework Reduction in Ship Building Project

Achieving Sustainable Value Planning For Malaysian Public Projects

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