Value Engineering is a systematic method to improve the "Value" of goods 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.
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trying to eliminate any unnecessary costs that do not contribute to the value and performance of the product or service.
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