McGill University credits General Electric with developing value analysis, also known as value engineering, as a practice during the late 1940s. Value analysis is a methodical approach to sharpening ...

With the accelerating cost of manufacturing and the consumer's desire for a new or better product, more need is placed on the department or subsystems within an organization to minimize individual ...

Value engineering is defined by the Chartered Institute of Management Accountants as the functional analysis and redesign of products and services to provide value to the customer. Value engineering ...

SAE Transactions, Vol. 106, Section 5: JOURNAL OF MATERIALS & MANUFACTURING (1997), pp. 772-776 (5 pages) The Value Engineering (VE) process, and therefore, the equation "Value = Function/Cost" is ...