Value Engineering
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
• 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
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.