Value Engineering & Value Management Flashcards
7 cards from real CCC practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Value Engineering & Value Management flashcards as text
What is the primary goal of Value Engineering (VE)?
Answer: Achieve required functions at the lowest life cycle cost
Value Engineering aims to achieve all required project functions at the lowest possible life cycle cost while maintaining performance, quality, and reliability.
In the VE job plan, which phase is dedicated to identifying and categorizing all project functions?
Answer: Function Analysis Phase
The Function Analysis Phase systematically identifies, classifies, and analyzes project functions to distinguish necessary costs from unnecessary ones.
In a FAST (Function Analysis System Technique) diagram, what does moving to the right — the 'How' direction — represent?
Answer: Lower-order functions and how each function is accomplished
In a FAST diagram, moving right (the 'How' direction) reveals lower-order functions and the methods by which each higher function is achieved.
In Value Engineering, 'worth' is defined as:
Answer: The lowest cost to reliably perform a required function
In VE, 'worth' is the lowest cost to reliably perform a required function and serves as a benchmark against actual cost to identify unnecessary expenditure.
Which of the following best describes a 'basic function' in Value Engineering?
Answer: The primary purpose that defines what an item must do
A basic function is the primary purpose of an item — the essential reason it exists — and cannot be eliminated without destroying the item's usefulness.
During which project phase does Value Engineering typically provide the greatest cost savings potential?
Answer: Early design and planning phase
VE provides the greatest savings potential during early design and planning phases when design decisions are not yet locked in and changes are least expensive to implement.
What does SAVE International represent in the context of Value Engineering?
Answer: The professional society that sets standards and certifies VE practitioners
SAVE International (Society of American Value Engineers International) is the professional organization that publishes the Value Methodology Standard and certifies VE practitioners.