Value Engineering
Improved value by enhanced function.
The definition of value
V = F / C (1)
where
V = value
F = function
C = cost
is the key to Value Engineering.
Improving the function, reducing the cost, or both - will increase the value.
Related Topics
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Miscellaneous
Engineering related topics like Beaufort Wind Scale, CE-marking, drawing standards and more. -
Process Control Systems Documentation
Documentation of process control systems - Block Flow Diagrams (BFD), Process Flow Diagrams (PFD), Piping and Instrumentation Diagrams (P&ID) and more.
Related Documents
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Cash Flow Diagrams
The future value of money. -
CE Marking
Verifies that a product is designed to the appropriate standards according the European Machine Directive. -
Contract Types
Commonly used engineering and construction contracts. -
Inflation Rate
Future value of money vs. inflation. -
Internal Rate of Return - IRR
Internal Rate of Return (IRR) - the break-even interest rate. -
Markup and Gross Profit
Profit vs. markup. -
Net Present Worth (NPW) of a Cash Stream
The value of a stream of payments is called the Net Present Worth (NPW). -
Present Value
The value of money in the future is the Present Value.