The Objective of Value Analysis Is to Enhance Value by Reducing

question 33

True/False

The objective of value analysis is to enhance value by reducing the cost of a good or service without sacrificing quality, enhancing functionality without increasing cost, or providing greater functionality to the user above and beyond any increase in cost.

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Definitions:

Determining Characteristics

The essential attributes or qualities that define and distinguish a product, person, or concept.

Appropriate

Suitable or proper in the circumstances.

Overhead Costs

Indirect costs not directly tied to production, such as rent, utilities, and administrative expenses, necessary for running a business.

Continuous Manufacturing

A production system where materials flow continuously through an uninterrupted production process, aiming for high efficiency and constant output.