Question

A systematic or step by step approach intended to achieve the desired functions of a product, process, system or service at an overall minimum cost without in any way affecting quality, reliability, performance, delivery or safety of environment is termed as ____________ engineering.

• A. Value
• B. Critical
• C. Service
• D. Systematic

Hint:

The core formula for Value Engineering is: \textbf{Value = Function / Cost}. The goal is to maximize this ratio, either by improving the function for the same cost or by reducing the cost for the same function.

Answer 1

The Correct Option is A

Step 1: Analyze the core concept in the definition. Step 1: The definition focuses on achieving required "functions" at a "minimum cost" while maintaining "quality" and "reliability." This ratio of function to cost is the classic definition of "value."
Step 2: Define Value Engineering.
Step 2: Value Engineering (also known as Value Analysis) is a systematic method to improve the value of products, services, or processes. It does this by analyzing the functions and seeking to achieve those functions at the lowest possible life-cycle cost without sacrificing performance or quality.
Step 3: Match the definition to the term.
Step 3: The provided definition is a textbook description of Value Engineering. The other terms are too general or do not fit the specific methodology described.