| 49. | ANALYZING WORK: VALUE ENGINEERING (VE) |
Usually the purpose of VE is to save money and, at the same time, provide equal or better value of goods and services, but sometimes it is to improve on some other established “value.” VE began at the General Electric Co. during World War II when there were dire shortages of resources and substitutes were needed. Surprisingly, many substitutes reduced costs, improved product, or both. What started as a need to find other ways turned into a systematic process, VE, that was institutionalized. Now most large government contracts have a VE clause.
On its surface, VE provides you with a systematic approach for looking at what you are doing with an eye to cost cutting while maintaining or improving ...
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