Which of the Following Is True Regarding Value Engineering

question 74

Multiple Choice

Which of the following is true regarding value engineering?

• A) Value engineering occurs only after the product is selected and designed.
• B) Value engineering is the same as value analysis.
• C) Value engineering is oriented toward improvement of design.
• D) Value engineering occurs during production when it is clear the product is a success.
• E) Value engineering can save substantial amounts of product cost, but quality suffers.

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Definitions:

Planning Budget

A budget created for a particular level of activity, used as a tool for decision making and performance evaluation.

Employee Salaries And Wages

The compensation paid to employees for their labor, including both fixed salaries and hourly wages.

Supplies Cost

The expense associated with materials and other items necessary for the operation of a business or process.

Planning Budget

A budget that outlines the expected revenues, expenses, and resources over a specific period, often used as a financial roadmap.