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How to organise a Value Engineering project

Value Engineering is an excellent way to make your product portfolio more attractive. With Value Engineering the focus is put, in contrast to investing in research & new product development, on redesign and/or reduction of the integral cost price. With value engineering the investments and risks stay low and lead time short. Furthermore, you will already have a client base, so you won’t need to put in any effort in that.

But how exactly do you organise a value engineering project? In this article, I will describe the 5 phases of the integral value engineering method, and I will also show when you need which resources. Integral value engineering is a method to reduce your cost price while maintaining the market value of your product. Focus here is on reduction of integral costs while retaining the form-fit function, minimal time for requalification and short payback period of the effort.