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What is Value Engineering and its benefits ,Step/Process
 
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Dosto iss videos mai hum baat karage “Engineering Economics”ka UNIT-4 ka topic-“Value Engineering” kya hota Hai aur benefits and step/process ka bare mai discuss karegeye. Download For Notes Link-https://www.notesgen.com/note/49131/value-engineering-unit-4-engineering-economics.html To Download App For Notes-https://www.notesgen.com/user/home नमस्कार दोस्तों, आपका बहुत बहुत स्वागत है हमारे चैनल "mindmaker guruji" में, Hello friends, Welcome to "mindmaker guruji", Please SUBSCRIBE to “mindmaker guruji”. Jai Hind Jai Bharat Thanks
Views: 15418 mindmaker guruji
Value analysis in a nutshell
 
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What exactly is Value Analysis? What are the core elements of this methodology? And why has this approach been so successful for 70 years? How do you proceed within such a value analysis project? What are the tasks of a Professional in Value Management (PVM)? This short explanatory video gives a first overview of the topic using the example of a construction project. The methodology Value Analysis is an organized and creative approach that applies a function- and cost-oriented design process with the aim of increasing the value of the value analysis object. It is characterized by: • Functional orientation (basic idea: The customer does not want the object but its function / effect) • Value concept (How can I increase the value of an object? How can I realize functions at the best price?) • Holistic approach (integration of all stakeholders) • Interdisciplinary teamwork (integration of employees from product development, production, sales, purchasing ...) with space for creativity • Structured, step-by-step approach (according to the value analysis work plan described in the guideline VDI 2800) and • Application neutrality, which means that the methodology can be used independently of the industry, from the phase of the project (from the concept phase to the existing product) and from the considered object (product, process, service). How these core elements, responsible for the success of the methodology, are working together, is shown vividly. In 1947 Value Analysis has been developed in the USA by Lawrence D. Miles. The Technical Division Value Management / Value Analysis at the VDI has been the leading organization for the application, support and further development Value Analysis / Value Management in the German-speaking world since 1967. It also plays a leading role in the international community. Links: Technical Division Value Management/Value Analysis http://www.vdi.eu/engineering/vdi-societies/product-and-process-design/product-and-process-design/value-managementvalue-analysis/
Views: 7478 VDI
Problem Solving Techniques #2: Value Analysis
 
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See how Value Analysis can be used to help determine improvement and re-design priorities.
Views: 68672 Eugene O'Loughlin
Process Value Analysis
 
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To get a free course visit: www.sixsigmacertificationcourse.com/free-six-sigma Learn about Process Value Analysis, which will be useful for Lean Six Sigma Certification (CSSBB and CSSGB) of IASSC and ASQ Author: Nilakantasrinivasan J (Neil)
Value Analysis
 
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Value Analysis
Views: 2354 William Richmond
What is VALUE ENGINEERING? What does VALUE ENGINEERING mean? VALUE ENGINEERING meaning & explanation
 
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✪✪✪✪✪ WANT VIDEO LIKE THIS ONE FOR ONLY 5 DOLLARS? ORDER IT HERE - http://bit.ly/2UKJeFH ✪✪✪✪✪ ✪✪✪✪✪ The Audiopedia Android application, INSTALL NOW - https://play.google.com/store/apps/details?id=com.wTheAudiopedia_8069473 ✪✪✪✪✪ What is VALUE ENGINEERING? What does VALUE ENGINEERING mean? VALUE ENGINEERING meaning - VALUE ENGINEERING definition - VALUE ENGINEERING explanation, Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. The reasoning behind value engineering is as follows: if marketers expect a product to become practically or stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The products could be built with higher-grade components, but with value engineering they are not because this would impose an unnecessary cost on the manufacturer, and to a limited extent also an increased cost on the purchaser. Value engineering will reduce these costs. A company will typically use the least expensive components that satisfy the product's lifetime projections. Due to the very short life spans, however, which is often a result of this "value engineering technique", planned obsolescence has become associated with product deterioration and inferior quality. Vance Packard once claimed this practice gave engineering as a whole a bad name, as it directed creative engineering energies toward short-term market ends. Philosophers such as Herbert Marcuse and Jacque Fresco have also criticized the economic and societal implications of this model. Value engineering began at General Electric Co. during World War II. Because of the war, there were shortages of skilled labour, raw materials, and component parts. Lawrence Miles, Jerry Leftow, and Harry Erlicher at G.E. looked for acceptable substitutes. They noticed that these substitutions often reduced costs, improved the product, or both. What started out as an accident of necessity was turned into a systematic process. They called their technique "value analysis". Value engineering is sometimes taught within the project management or industrial engineering body of knowledge as a technique in which the value of a system’s outputs is optimized by crafting a mix of performance (function) and costs. In most cases this practice identifies and removes unnecessary expenditures, thereby increasing the value for the manufacturer and/or their customers. VE follows a structured thought process that is based exclusively on "function", i.e. what something "does" not what it is. For example a screw driver that is being used to stir a can of paint has a "function" of mixing the contents of a paint can and not the original connotation of securing a screw into a screw-hole. In value engineering "functions" are always described in a two word abridgment consisting of an active verb and measurable noun (what is being done - the verb - and what it is being done to - the noun) and to do so in the most non-prescriptive way possible. In the screw driver and can of paint example, the most basic function would be "blend liquid" which is less prescriptive than "stir paint" which can be seen to limit the action (by stirring) and to limit the application (only considers paint). This is the basis of what value engineering refers to as "function analysis". Value engineering uses rational logic (a unique "how" - "why" questioning technique) and the analysis of function to identify relationships that increase value. It is considered a quantitative method similar to the scientific method, which focuses on hypothesis-conclusion approaches to test relationships, and operations research, which uses model building to identify predictive relationships.
Views: 27081 The Audiopedia
PROCESS VALUE ANALYSIS - Part I out of II
 
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Informative video about Qualitative Analysis for Process Improvement, which has been created as a part of a university assignment at the HWR Berlin for the obtainment of Master of Business Intelligence and Process Management.-- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video. PowToon's animation templates help you create animated presentations and animated explainer videos from scratch. Anyone can produce awesome animations quickly with PowToon, without the cost or hassle other professional animation services require.
Views: 85 Erica Ivarsson
Project Management in Under 5: What is Value Engineering?
 
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As a Project Manager, you will one day find yourself in a meeting when someone makes the suggestion: 'I think we need to do some Value Engineering.' It's a necessary part of many projects. So, what is Value Engineering? Here, Dr Mike Clayton, founder of https://OnlinePMCourses.com, answers this question, in under 5 minutes. You might also like… What is a Functional Specification? https://youtu.be/MYeXCdHyDhM What is a Project Definition? https://youtu.be/xuAxYwembwU What are OKRs? https://youtu.be/YRsuxPsDpLs What is the Pareto Principle https://youtu.be/9Asdx97WE_8 Please: Give us a like Visit https://OnlinePMCourses.com ...or subscribe to our YouTube Channel by clicking here: https://www.youtube.com/channel/UCMZfp1_wquyegVY9SoER0Nw?sub_confirmation=1
Views: 795 Online PM Courses
Value Analysis
 
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The Value Analysis Model is the standard of value measurement. A Value Analysis study answers the critical question: “What do your customers value?” Base your branding and marketing efforts on a solid foundation of optimizing your current brand and understanding what your customers value now and will value next.
Views: 3827 ThatBrandGuy.com
Value Analysis 201: The 5 Why's of Value Analysis – An Introduction
 
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Lean thinking continues to emerge and embed its ideas into our traditional ways of thinking about Value Analysis and Healthcare. In lean thinking, the thought is to ask “why” five times to get to the root cause of an issue.
Views: 335 AHRMM
Value analysis – Value Engineering - Difference
 
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What is the difference between value analysis and value engineering? L.D. Miles indicated the possibility of difference. He wrote: In achieving better value, there are two opportunity areas: 1. The identification of costs as unnecessary. 2. The decision making which will eliminate the identified unnecessary cost. Value Analysis is step 1. Value engineering is step 2 Presented by:Prof. k.V.S.S. Narayana rao industrial engineering knowledge center blog http://nraoiekc.blogspot.com.
Views: 3922 Narayana Rao
Value engineering
 
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Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements. The reasoning behind value engineering is as follows: if marketers expect a product to become practically or stylistically obsolete within a specific length of time, they can design it to only last for that specific lifetime. The products could be built with higher-grade components, but with value-engineering they are not because this would impose an unnecessary cost on the manufacturer, and to a limited extend also an increased cost on the purchaser. Value engineering will reduce these costs. A company will typically use the least expensive components that satisfy the product's lifetime projections. This video is targeted to blind users. Attribution: Article text available under CC-BY-SA Creative Commons image source in video
Views: 10289 Audiopedia
What is Value Chain? Value Chain Definition, its Management and Analysis | AIMS Lecture
 
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Lecture: What is Value Chain? http://www.aims.education/study-online/what-is-value-chain-definition/ As per Value chain definition, it is a model that explains how businesses receive raw materials as input, add value to the raw materials through various processes, and sell finished products to customers.
Views: 212409 AIMS Education - UK
What is a Value Analysis Professional?
 
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Did you know that a Value Analysis Professional helps patients by using evidence-based decision making? Learn more about one of our favorite patients, Ava and her Value Analysis Professional, Laurie....
Views: 1919 AHVAP Team
Value Analysis & Value Engineering Solution for Off Highway Industry
 
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Value Analysis & Value Engineering (VAVE) Solution for Off Highway. Our G-VAVE solution helps reduce product design and manufacturing cost by optimizing product design. Geometric Portfolio for Off-Highway offerings: http://geometricglobal.com/industries/off-highway/
Views: 11386 HCL GeometricPLM
PMBOK 6: Earned Value Management Analysis in simple language
 
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The video starts with an example. A contractor was given a project to install 50 desktop machines for a client at USD 1000 in 5 days. So the total contract is for USD 1000. The project manager analyzed and figures out that it requires USD 100 for 10 machines per day in 5 days. Estimation of USD 100 per day makes the project cost as USD 500. USD 500 is the project cost baseline. The project cost baseline has nothing to do with what the contractor is getting. These are 2 separate conversations. This is explained in a very simple language with the help of a Table. The Table contains Day 1 to Day 5 as Rows and Plan value, Actual value and Earned value as columns. On Day-1 you install 7 machines and actually spent USD 120, whereas planned was USD 100. So you can say that you have spent USD 120 against USD 100 and installed 7 machines against 10 machines. But as per the plan, you were supposed to spend USD 10 per machine. Now earned value comes into the picture. Earned value is a combination of actual quantity and planned rate. It is the terminology what is the worth of work completed against my budget. Earned value = the value of work you have done=7 *10 = USD 70 on Day1 On Day1 we actually have done the work worth USD 70 whereas we have spent USD 120 Here Planned Value =USD 100, Actual Value=USD 120 and Earned Value= USD 70. In simple language Earned value is the value of my completed work as per my cost baseline. For variance and more details please enroll in our online course at https://www.izenbridge.com/pmp/online-course/
Product by Value Analysis
 
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I have demonstrated the Product by Value Analysis using a case.
Views: 1600 Pb Venkataraman
The essence of a Value Engineering (VE) Workshop
 
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Short explanation of the appliance of Value Engineering through a VE Workshop
Views: 10822 perryelbers
Boundary value analysis and Equivalence partitioning Examples and Solution
 
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1. An input field takes the year of birth between 1900 and 2004The boundary values for testing this field are? 2.One of the fields on a form contains a text box which accepts numeric values in the range of 18 to 25. Identify the invalid Equivalence class? 3.One of the fields on a form contains a text box which accepts numeric values in the range of 18 to 25. Identify the invalid Equivalance class? 4.One of the fields on a form contains a text box which accepts alpha numeric values. Identify the Valid Equivalence class 5.5.The Switch is switched off once the temperature falls below 18 and then it is turned on when the temperature is more than 21. When the temperature is more than 21. Identify the Equivalance values which belong to the same class. 6. ‘X’ has given a data on a person age, which should be between 1 to 99. Using BVA which is the appropriate one ? 7.A thermometer measures temperature in whole degrees only. If the temperature falls below 18 degrees, the heating is switched off. It is switched on again when the temperature reaches 21 degrees. What are the best values in degrees to cover all equivalence partitions? 8.A wholesaler sells printer cartridges. The minimum order quantity is 5. There is a 20% discount for orders of 100 or more printer cartridges. You have been asked to prepare test cases using various values for the number of printer cartridges ordered. Which of the following groups contain three test inputs that would be generated using Boundary Value Analysis?  9.Assume postal rates for 'light letters' are$0.25 up to 10 grams;$0.35 up to 50 grams;$0.45 up to 75 grams;$0.55 up to 100 grams. Which test inputs (in grams) would be selected using boundary value analysis? 10.Find the invalid equivalence class for the following test caseDraw a line up to the length of 4 inches 11.In a system designed to work out the tax to be paid. An employee has £4000 of salary tax free.The next £1500 is taxed at 10%.The next £28000 after that is taxed at 22%.Any further amount is taxed at 40%.To the nearest whole pound, which of these is a valid Boundary Value Analysis test case? 12.Given the following specification, which of the following values for age are in the SAME equivalence partition?If you are less than 18, you are too young to be insured. Between 18 and 30 inclusive, you will receive a 20% discount. Anyone over 30 is not eligible for a discount. 13.In an Examination a candidate has to score minimum of 24 marks in order to clear the exam. The maximum that he can score is 40 marks.  Identify the Valid Equivalence values if the student clears the exam? 14.A program validates a numeric field as follows: values less than 10 are rejected, values between 10 and 21 are accepted, values greater than or equal to 22 are rejected. Which of the following input values cover all of the equivalence partitions? 15.A program validates a numeric field as follows: values less than 10 are rejected, values between 10 and 21 are accepted, values greater than or equal to 22 are rejected. Which of the following covers the MOST boundary values? 16.In a system designed to work out the tax to be paid:An employee has £4000 of salary tax free.The next £1500 is taxed at 10%.The next £28000 after that is taxed at 22%.Any further amount is taxed at 40%.To the nearest whole pound, which of these groups of numbers fall into three DIFFERENT equivalence classes? 17. In a system designed to work out the tax to be paid:An employee has £4000 of salary tax free.The next £1500 is taxed at 10%.The next £28000 after that is taxed at 22%.Any further amount is taxed at 40%.Which of these groups of numbers would fall into the same equivalence class? 18. Order numbers on a stock control system can range between 10000 and 99999 inclusive. Which of the following inputs might be a result of designing tests for only valid equivalence classes and valid boundaries: 19.One technique of Black Box testing is Equivalence Partitioning. In a program statement that accepts only one choice from among 10 possible choices, numbered 1 through 10, the middle partition would be from _____ to _____ 20. If a candidate is given an exam of 40 questions, should get 25 marks to pass (61%) and should get 80% for distinction, what is equivalence class 21.Boundary value analysis and Equivalence partitioning Interview questions with Answers. 23.Boundary value analysis and Equivalence partitioning examples
Views: 9012 vpeople
Value Analysis - Bringing the Cost down without reducing the Project Scope
 
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RELATED ARTICLE http://www.pmclounge.com/2019/03/value-analysis/ COST MANAGEMENT https://goo.gl/4ZRw4N COST MANAGEMENT: FAQs https://goo.gl/YdX2LQ VLOGS - LOUNGING AROUND https://goo.gl/3p7bbe SHOP FOR PMP AT AMAZON INDIA http://amzn.to/2xjhXlS PMP STUDY PLAN http://pmclounge.com/pmp-study-plan/ PMP PREPARATION RESOURCES http://pmclounge.com/pmp-preparation-resources/ CONNECT Website - http://pmclounge.com/ Facebook - https://www.facebook.com/pmclounge Twitter - https://twitter.com/pmclounge #PMP #CostManagement #PMCLounge
Views: 301 PMC Lounge
Mod-4 Lec-17 Value Engineering
 
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Lecture Series on Industrial Engineering by Prof.Inderdeep Singh, Department of Mechanical and Industrial Engineering, IIT Roorkee. For more details on NPTEL visit http://nptel.iitm.ac.in
Views: 32317 nptelhrd
Earned value analysis worked example
 
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Check out http://www.engineer4free.com for more free engineering tutorials and math lessons! Project Management Tutorial: Earned value analysis worked example. Please support my work: PATREON | https://www.patreon.com/Engineer4Free Every dollar is seriously appreciated and enables me to continue making more tutorials
Views: 180164 Engineer4Free
Value Engineering Summit 2018 - Panel Discussion I - THE VALUE OF VALUE ENGINEERING
 
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Moderator and Summit Chair, Sameer Daoud, leads a discussion about the enormous benefits value engineering can have across the board when correctly applied to the construction process. With the process resulting in lower design costs and better construction sequencing of a project, while decreasing the overall expense, this discussion will be of interest to developers, consultants and contractors in this time of tight budgets and margins. Panelists: Airolink – Robert Marinelli ALEC Fit-Out – Tom Gilmartin ALEMCO – Rob McDonnell Drees & Sommer – Morgan Tuckness F+G and RICS – Steven Batchelor Select Group – Benoit McNamara Moderator: Sameer Daoud, MECIC Contracting
Boundary Value Analysis and Equivalence Partitioning: Software Testing Tutorial
 
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http://www.guru99.com/equivalence-partitioning-boundary-value-analysis.html This beginner’s tutorial will introduce the concept of Testing Techniques with examples. It demonstrates use of Equivalence partitioning and Boundary value analysis. What is Boundary Testing? Boundary Testing is the process of Testing between extreme ends or Boundaries between partitions of the input values. What is Equivalent Class Partitioning? Equivalent Class Partitioning is a black box technique (code is not visible to tester) which can be applied to all levels of testing like unit, integration, system, etc. The tutorial discussed difference between Boundary Value Analysis and Equivalence Partitioning. Like, share and subscribe our channel for more videos. Enjoy Our free tutorial on our YouTube channel and our website. Watch more videos on our YouTube channel at https://www.youtube.com/channel/UC19i1XD6k88KqHlET8atqFQ READ this as a book on Amazon by viewing at http://amzn.to/2vaj1aA Visit our website for more! www.guru99.com FACEBOOK! Would you prefer to watch more about us? Like our page for more https://www.facebook.com/guru99com/ TWITTER! Tweet for us on Twitter with #guru99 and follow us on https://twitter.com/guru99com THANKS! We appreciate you reading this and hope you have a wonderful day! Sincerely, Guru99
Views: 220609 Guru99
Value Chain Analysis - Strategic Management - Detailed Explanation of VCA in hindi
 
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Watch the video till the end and do not forget to Subscribe our channel for more such videos. Share this channel with your friends in need. To Buy Strategic Management Notes- (For old course) Contact (Whatsapp) our team at - 9675107193 Follow us on all Social Media- Facebook - https://www.facebook.com/imshivatayal Twitter - https://www.twitter.com/imshivatayal Instagram- https://www.instagram.com/imshivatayal Google+ - https://plus.google.com/+ShivaTayal Subscribe us on Youtube- https://www.youtube.com/shivatayal
Views: 53689 Shiva Tayal
Value Analysis Technique 5.  USE REAL CREATIVITY
 
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USE REAL CREATIVITY Think of doing a thing or accomplishing a function in alternate ways. In value analysis, exercising creative power is an important tool. Think of other ways of accomplishing the function Value Analysis Technique 6. Identify and Overcome Roadblocks https://www.youtube.com/watch?v=RB99PKl3_SQ Value Engineering - Value Analysis Techniques - YouTube Video Playlist https://www.youtube.com/watch?v=BHH-QZ29EOo&list=PL6W3qaSriFEgzI80uqu4ygW5jJsDCCyJf
Views: 230 Narayana Rao
What is Value Engineering? | Gordon Culp
 
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Engineer Gordon Culp descibes Value Engineering. http://smithculp.com
Views: 11633 Smith Culp
Value Chain Analysis Explained
 
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Michael Porter's Value Chain Analysis can get complicated; particularly when applying the concept to services businesses. Watch this video for a straightforward 3-step process that can help you enhance your customer's value.
Views: 167437 Soma Datta
Value Analysis Technique  - 6. Identify and Overcome Roadblocks
 
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Value Analysis Comparing Specified Performance (Function) with Cost Value of Current and Alternative Designs, Processes and Vendors. Finding opportunity of redesign to reduce cost value. Roadblocks prevent development of value alternatives. Roadblocks are mainly lack of information, acceptance of wrong information, and a wrong belief. The specific technique of identifying and overcoming roadblocks is another item in the kit of tools which is positively essential for the professional value engineer to learn to use effectively. Presented by Professor K.V.S.S. Narayana Rao (NITIE) Industrial Engineering knowledge Center http://nraoiekc.blogspot.com
Views: 154 Narayana Rao
Value analysis /Value engineering explained in Tamil/தமிழ்.
 
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For clarification mail to [email protected] Value analysis is the systematic application of recognized techniques which identify the function of a product or service, establish a monetary value for the function and provide the necessary function reliability at the lowest overall cost- Society of American value engineers. Value= Performance (Utility )/Cost Difference between Value analysis and value engineering. Value analysis is the application of set of techniques to an existing product with a view to improve its Value , thus it is a remedial process. Value Engineering is the application of exactly the same set of techniques to a new product at the design stage. Personal Introduction- I have good experience in Production/ Warehouse Management/ Inventory Management. If you have any requirements for the below.I can provide solutions (Part time/Full time/Freelancing) Stabilizing productivity for your organization. Optimising Resources. Line balancing. Warehouse Management. Inventory Management. Procurement. Training on Industrial Engineering concept s. Or any other requirement's on Industrial Engineering. Please find my experience details. My name is Bharani. I have cumulative 10 years experience in the field of Automotive component assembly/ Automotive component warehouse management/ Inventory Management/ Automotive component sales Management. I have completed Industrial Engineering ( Institution- Indian institution of Industrial Engineering). Contact details- [email protected] or businesstechnophile.com Thanks.
Boundary Value Analysis In Software Testing - Test Design Technique
 
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►Check the below link for detailed post on "Boundary Value Analysis Test Case Design Technique" http://www.softwaretestingmaterial.com/boundary-value-analysis-testing-technique/ ►THANKS for taking the time to visit, I hope you SUBSCRIBE and enjoy the upcoming videos! ►Please SUBSCRIBE for More videos: https://www.youtube.com/channel/UCIJGI_3XgnfUaSNQD8D2IMQ ►If you like this video, Please click on Like and Comment! ►Follow Us on Social Network: ►Google +: https://plus.google.com/u/0/112866700026030919889/posts ►Facebook: https://www.facebook.com/SoftwareTestingMaterial ►Twitter: https://twitter.com/STMWebsite ►Pinterest: https://www.pinterest.com/stmsite/ ►Website: http://www.softwaretestingmaterial.com ►LinkedIn: https://www.linkedin.com/in/rajkumarsm/
Boundary Value Analysis (BVA) Real World Application and Extension with Exploratory Software Testing
 
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BVA (Boundary Value Analysis) in the real world will only take us so far as our analysis is build around assumptions that often do not take into account the platform and implementation. This video shows the limits of boundary value analysis and demonstrates finding a boundary error in Firefox and Chrome which was not available from initial boundary value analysis techniques. - 2e1 - limited chars but e and . and - and + - 10.0 - 100.0000000000000001 Read the write up on my blog: https://www.eviltester.com/2019/01/what-is-boundary-value-analysis.html Watch the first video in this series showing the basic technique https://youtu.be/H6IRY98Gu44 Patreon Supporters received 3rd video in this series describing BVA as a heuristic. You can support me on Patreon https://patreon.com/eviltester (and receive extra content) --- You can support me on Patreon https://patreon.com/eviltester (and receive extra content) Hire me for consultancy and buy my online books and training at: - https://compendiumdev.co.uk - http://eviltester.com - http://seleniumsimplified.com - http://javafortesters.com
What is PROCUREMENT? What does PROCUREMENT mean? PROCUREMENT meaning, definition & explanation
 
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✪✪✪✪✪ Check our NEW launched Top 10 lists website - https://topratedten.com/ ✪✪✪✪✪ ✪✪✪✪✪ LIKE us on Facebook - https://www.facebook.com/theaudiopediacom ✪✪✪✪✪ ✪✪✪✪✪ The Audiopedia Android application, INSTALL NOW - https://play.google.com/store/apps/details?id=com.wTheAudiopedia_8069473 ✪✪✪✪✪ What is PROCUREMENT? What does PROCUREMENT mean? PROCUREMENT meaning - PROCUREMENT pronunciation - PROCUREMENT definition - PROCUREMENT explanation - How to pronounce PROCUREMENT? Source: Wikipedia.org article, adapted under https://creativecommons.org/licenses/by-sa/3.0/ license. Procurement is the act of finding, acquiring, buying goods, services or works from an external source, often via a tendering or competitive bidding process. The process is used to ensure the buyer receives goods, services or works the best possible price, when aspects such as quality, quantity, time, and location are compared. Corporations and public bodies often define processes intended to promote fair and open competition for their business while minimizing risk, such as exposure to fraud and collusion. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and price fluctuations. Procurement generally involves making buying decisions under conditions of scarcity. If good data is available, it is good practice to make use of economic analysis methods such as cost-benefit analysis or cost-utility analysis. An important distinction should be made between analyses without risk and those with risk. Where risk is involved, either in the costs or the benefits, the concept of best value should be employed. Procurement activities are often split into two distinct categories, direct and indirect spend. Direct spend refers to production-related procurement that encompasses all items that are part of finished products, such as raw material, components and parts. The first category being direct, production-related procurement and the second being indirect, non-production-related procurement. Direct procurement, which is the focus in supply chain management, directly affects the production process of manufacturing firms. In contrast, indirect procurement activities concern “operating resources” that a company purchases to enable its operations. Indirect procurement comprises a wide variety of goods and services, from standardized items like office supplies and machine lubricants to complex and costly products and services;, like heavy equipment, consulting services, and outsourcing services. Procurement is one component of the broader concept of sourcing and acquisition. Typically procurement is viewed as more tactical in nature (the process of physically buying a product or service) and sourcing and acquisition are viewed as more strategic and encompassing. The Institute of Supply Management defines strategic sourcing as the process of identifying sources that could provide needed products or services for the acquiring organization. The term procurement used to reflect the entire purchasing process or cycle, and not just the tactical components. ISM defines procurement as an organizational function that includes specifications development, value analysis, supplier market research, negotiation, buying activities, contract administration, inventory control, traffic, receiving and stores. Purchasing refers to the major function of an organization that is responsible for acquisition of required materials, services and equipment. The United States Defense Acquisition University (DAU) defines procurement as the act of buying goods and services for the government. DAU defines acquisition as the conceptualization, initiation, design, development, test, contracting, production, deployment, Logistics Support (LS), modification, and disposal of weapons and other systems, supplies, or services (including construction) to satisfy Department of Defense needs, intended for use in or in support of military missions. Acquisition and sourcing are therefore much wider concepts than procurement. Multiple sourcing business models exist, and acquisition models exist.
Views: 84540 The Audiopedia
Value Engineering in the Construction Industry
 
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Value Engineering in the Construction Industry
Views: 10409 TitanCAE
Customer Value Analysis
 
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Customer Value Analysis
Product Design and Value Engineering
 
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A.T. Kearney’s Product Excellence and Renewal Lab, or PERLab, helps you take a holistic approach to product portfolio management with a focus on cost reductions and revenue improvements, giving companies a long term competitive advantage through the lifecycle of their products.
Views: 1050 A.T. Kearney
value engineering and value analysis : Value engineering with example
 
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Customer Perceived Value I Determinants of Customer Perceived Value I Customer value Analysis
 
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Customer Perceived Value I Determinants of Customer Perceived Value I Customer value Analysis Customer value Analysis Steps for Customer value Analysis Video by Edupedia World (www.edupediaworld.com), Free Online Education; Download our App : https://goo.gl/1b6LBg Click here https://goo.gl/b1LvAm to watch more videos Marketing Management; All Rights Reserved.
Views: 2310 Edupedia World
Worst Case Testing  (Extension to Boundary Value Analysis) - Software Engineering Hindi English
 
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Worst Case Testing (Extension to Boundary Value Analysis) - Software Engineering Lectures Hindi English
Value analysis - English Version
 
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Do you spend your time wisely on valuable things? Do you want to increase your businese value? The secret of adding value to your job is to manage your working time effectively. Value analysis can help us identify which works have to be done first./more valuable In this short video clip, we will apply value analysis to Express Delivery and take three examples, including calling B2C customers before deliverying their packages, charging disbursement fee, and failing to deliver the package right first time, hope to make everyone know more about value analysis. We put efforts on value adding works, value enabling works, and waste in our daily life. Let’s take a closer look at these 3 types of work. 1. Valua adding: Value-added work can increase the value of service or products. In addition, customers are willing to pay for those value-added work, such as delivering parcels right first time. So, we should put most efforts on this type of work. 2. Value enabling: Value enabling work doesn’t add value to the product’s or service value. However, it is required to sustain busisness under certain condition . We call this type of work “value enabling”, such as administrative affairs. 3.Waste: Activities don’t increase service value. There are 7 kinds of waste.(transportation, inventories, motion, waiting, over-production, over-processing and Defects/Rework) For example, if we fail to deliver the package first time, we should do it again and correct the defect. This is called “rework”. 3 steps to help you manage your time at work effectively by Value analysis Firstly, sort your daily works into 3 groups, including value adding, value enabling and waste. Secondly, do value enabling works efficiently and eliminate waste. Thirdly, maximize value-added works in your job. Take good advantage of value analysis and put your efforts on value adding works. You will be seen and become a valuable person!
Views: 886 Arno Chang
21. Earned Value Analysis
 
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Earned Value Analysis (EVA) is an industry standard method of measuring a project's progress at any given point in time, forecasting its completion date and final cost, and analyzing variances in the schedule and budget as the project proceeds PLEASE REFER THE LINKS AS FOLLOW IF YOU NEED LEARN MORE: - You Can Ace Your PMP® Exam With The World’s Most Popular PMP® Video Training Course! : http://bit.ly/2AnUnGh - The PMI-ACP® Exam Simulator Features : http://bit.ly/2k7GuoW - CAPM® Exam Prep and CAPM® Exam Simulator : http://bit.ly/2Af7dWC - Free PMI-ACP® Exam Simulator : http://bit.ly/2nixIWw - The CAPM® Exam Simulator Features : http://bit.ly/2Ah2qUE - The PMP Exam is Changing in 2018 : http://bit.ly/2AmSk5f - PMP Exam Prep Essentials Overview Your Condensed PMP® Exam Prep Study Guide : http://bit.ly/2ngB8ZQ - eBook The PMP Exam Prep Essentials Study Guide : http://bit.ly/2ngB8ZQ - The PMP Exam Printable FlashCards (PDF FlashCards Only) : http://bit.ly/2ByCiTE - The PMP Exam eFlashCards (Portable eFlashCards Only) : http://bit.ly/2i3lUBQ - The PMP Exam FlashCards (eFlashCards & PDF Bundle) : http://bit.ly/2BAEuKr - PMP Exam Formula Study Guide (Free, Redacted Version) : http://bit.ly/2kbPoBU - The PM StudyCoach (For PMBOK Guide 5th Edition) : http://bit.ly/2Bnn035 - The PDU Podcast (Year 3) : http://bit.ly/2AmAY65 - Earn PDUs with The PM PrepCast : http://bit.ly/2zAXgjc - Earn PDUs with The Agile PrepCast : http://bit.ly/2Alns2n - The PM PrepCast (For PMBOK Guide 5th Edition) : http://bit.ly/2ipC5NZ - The Free Agile PrepCast : http://bit.ly/2kd0VRl - The Agile PrepCast : http://bit.ly/2nieb8w - The PDU Podcast (Year 2) : http://bit.ly/2Af9qRU - The PDU Podcast (Year 1) : http://bit.ly/2Af9ykm - The Free PM PrepCast - Sample Videos and Free PMP Exam Prep Material : http://bit.ly/2k9tBuK - The PDU Podcast (Monthly Subscription) : http://bit.ly/2ne1uLO - PMP Exam Formula Study Guide : http://bit.ly/2ALYfRU
Cost benefit analysis in hindi | UML and SOOAD series
 
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Video credit Goes to Adwait Sharma visit our website for full course www.lastmomenttuitions.com NOTES: https://lastmomenttuitions.com/how-to-buy-notes/ Any doubt ask us and connect us at : you can connect us at Gmail:[email protected] you can email us :[email protected] Whatsapp contact:9762903078 facebook: https://www.facebook.com/lastmomenttu... more videos coming soon subscribe karke rakho tab tak
Views: 40308 Last moment tuitions
Value Analysis Technique 7. Use Industry Specialists to Extend Specialized Knowledge
 
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Value Analysis Comparing Specified Performance (Function) with Cost Value of Current and Alternative Designs, Processes and Vendors. Finding opportunity of redesign to reduce cost value. Redesigning is value engineering Value Engineering - Value Analysis Techniques https://www.youtube.com/watch?v=BHH-QZ29EOo&list=PL6W3qaSriFEgzI80uqu4ygW5jJsDCCyJf
Views: 9 Narayana Rao
Boundary value analysis in testing with example
 
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Boundary value analysis in testing with example
Views: 2070 Last Night Study