ITPEC IP April 2022 Question 80
ITPEC IP April 2022 — Question 80 of 100
Value engineering improves value by analyzing the relationship between required function and cost. Value can be expressed conceptually as function divided by cost. It rises when required function or quality is improved, when unnecessary cost is reduced, or when both occur without sacrificing essential requirements.
Answer (c)
Why not others:
- supply chain management optimizes flows across the supply network
- knowledge management captures and reuses organizational knowledge
- reverse engineering analyzes an existing product or system to derive its design or specifications
Key rule: VE systematically asks what function is required and how to deliver it at the best life-cycle cost.
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