Which of the Following Is True of Value Engineering

question 71

Multiple Choice

Which of the following is true of value engineering?

• A) It is the process of building a new product by first determining the selling price of the product.
• B) It is the process by which a company analyzes its own process to reduce cost.
• C) It is the process by which a systematic evaluation of all aspects of the value chain, with the objective of reducing costs and achieving a predetermined quality level.
• D) It is the process by which the competitor's products are disassembled and analyzed.

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Definitions:

Cognitive Interpretation

The process by which individuals perceive, comprehend, and interpret information mental.

Need For Achievement

A psychological characteristic that drives individuals to strive for success in tasks where they are evaluated against some standard of excellence.

Maximise

To increase or make as great as possible.

Difficult Task

A task that requires significant effort, skill, or knowledge to complete, and often poses a challenge to the individual attempting it.