ITPEC IP April 2024 Question 82
ITPEC IP April 2024 — Question 82 of 100
Value engineering improves value by analyzing the relationship between required function and lifecycle cost. Value is often expressed conceptually as function ÷ cost. It can be increased by preserving function while reducing unnecessary cost, improving function without a disproportionate cost increase, or improving both function and cost through alternative materials, designs, or processes.
Answer (c)
Why not others:
- (a) Supply chain management coordinates procurement, production, logistics, and distribution
- (b) Knowledge management captures, shares, and applies organizational know-how
- (d) Reverse engineering analyzes an existing product or software to understand its construction or design
Key rule: Value engineering asks what function is truly required and how that function can be delivered at the lowest total cost without sacrificing necessary quality.
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