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Essay

Value management

Essay specific features

 

Issue:

Business

 

Written by:

Les B

 

Date added:

October 17, 2013

 

Level:

 

Grade:

A

 

No of pages / words:

4 / 966

 

Was viewed:

9955 times

 

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Essay content:

The best value is associated with an item that has the ability of performing its function at an optimum level of quality, reliability, maintainability, and life-cycle cost. This analysis reduces processes, equipment, facilities, services, supplies, or products to their most basic functional elements and then looks for cost-efficient alternatives...
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This analysis reduces processes, equipment, facilities, services, supplies, or products to their most basic functional elements and then looks for cost-efficient alternatives. At minimum, proper value management practice will include all of following items:  identified initiatives  invested resources  implementable recommendations  identifiable return on investment A summary view of value management is the systematic search for an undiscovered answer through the collective efforts of a team composed of experienced and highly qualified professionals...
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