Value analysis: The different aspects of value engineering can be encapsulated into a sequence of steps known as a Job Plan.

Value Engineering in organisations helps to identify: The problem or situation that needs to be changed/improved All that is good about the existing situation The improvements required in the situation The functions to be performed The ways of performing each function The best ways among the selected functions The steps to be followed to implement the function The person who executes the function It should be remembered that we are not seeking a cost reduction sacrificing quality. It has been found that there will be an improvement in quality when systematic value analysis principles are employed. Examples of Value Engineering: Stapler

The above parts are mainly important parts in a stapler The metal parts are made up of iron metal and the cover was plastic.And the spring which is required to push the pins is made up of steel. As part of value analysis we can reduce the amount of plastic cover to the minimum level. And instead of iron metal we can use stainless steel which comes at lower cost and instead of metal spring we can use rubber push . The pusher and carrier doent have much significance and they dont need to bear much presure also. So we can use plastic for them instead of metal. And the base and Anvil can be made up plastic . if we do all these changes we can reduce the manufacturing cost of plaster significantly.