Value Engineering

Value Engineering

A common method is to explore values is to use value engineering where we determine the value of goods or services by looking at the ratio between cost and function. The goods or services are examined and the first stages in value engineering are information gathering and analysis. This is a creative method where alternative ways of meeting the requirements are explored.

The evaluation consists of an assessment of how well the alternatives meet the required functions and how great the savings it will be. This method is a successful approach towards determining the best value for money goods or services. In this method, value is defined as the function that satisfies the customers need at the lowest overall cost. Yet value can be defined in several different ways, and this method does not suggest a way to explore other values. For example, elegance and simplicity is rarely valued. Simplicity should be a value we value so highly that we build it into everything.

The Art of Simplicity

Many think the music of Bach is very complicated. Most of the time the music is in fact surprisingly simple when one takes a closer look at his compositions as the video in the attached link will show you. The video is self-explanatory even if you cannot read notes. This music may serve as an inspiration and/or eye-opener.

Impact a single adaption has on the overall.

  • Gradual evolution of a process.
  • The number of inventive principles used.
  • The interaction of multiple seemingly independent elements.
  • The impact of keeping things as simple as possible.

We recommend the book “In Pursuit of Elegance: Why the best Ideas have Something  Missing”  by Matthew E. May and Guy Kawasaki.

A question that often whizz around is what is our value proposition? What value have we added? Finding a method that creates a specific framework that is pliable and can be expanded may be a challenge. You can try to direct your attention to different aspect that may be important to consider when you are searching for values, for example, personal, organisational, or environmental factors. If you generate more ideas, the need to find and explore the values and to make priorities becomes more highlighted. This help you to ensure that the best and most urgent values are maximized every step on the way.

Photo: “Values Definition Button” by Stuart Miles

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2 thoughts on “Value Engineering

  1. Pingback: Very Good, Though Female | thinkibility

  2. Pingback: What’s (not) an Innovation? | thinkibility

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