Value Engineering Tools and Techniques | Free Online Course | Alison
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Fundamentals of Value Engineering Tools and Techniques

The free online course on the classification of value engineering tools and techniques, as well as some success stories.

Business Process Management
Free Course
This free online fundamentals of value engineering tools and techniques course will teach you about the importance of the cost-function relationship, as well as the application and steps of value engineering in product design. You will also learn about the various tools and techniques that are available in value engineering and their classifications. This course will also teach you about the importance of the functional cost worth analysis.
  • Duration

    4-5 Hours
  • Assessment

    Yes
  • Certification

    Yes
  • Responsive

    Yes
  • Publisher

    NPTEL

Description

Modules

Outcome

Certification

View course modules

Description

In this course, you will learn about the importance of the cost-function relationship in value engineering, as well as how value engineering is applied in the cost reduction of universal testing machines. The application of value engineering in product design, as well as the various steps that are followed when performing value engineering on a product, will also be covered in this course. Then, this course will also look at various case studies that highlight the application of value engineering, as well as how to calculate the cost worth matrix and feasibility matrix.

This course will also teach you about the various tools and techniques that are available in value engineering, as well as the different classifications of the tools and techniques that are applied in value engineering. Furthermore, the course will teach you about the different ways value engineering tools and techniques are applied and some success stories using value engineering. Lastly, this course will teach you about how to carry out a functional analysis of a project, as well as the importance of the functional cost worth analysis (FCWA) of a project.

This course is helpful for learners who want to gain an understanding of how value engineering is important in product design, as well as the various tools and techniques that are available in value engineering. This course is also helpful for learners who want to study some real-life examples which utilize the application of value engineering in the product design. Begin this course now to learn about the different ways value engineering can be used to improve the quality of a product without increasing the cost of production.

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Learning Outcomes

Having completed this course, you should be able to:


  • Discuss the cost-function relationship of a product in value engineering.
  • Explain how value engineering can be applied to the cost reduction of a product.
  • Discuss the advantages of applying the FAST model in value engineering.
  • Explain how to determine the cost matrix and feasibility matrix of a product.
  • Identify the various value engineering tools and techniques.
  • Discuss the importance of using industry specialists to extend specialized knowledge.
  • Identify the project requirements and the description of the project.
  • Explain how a functional analysis worksheet is developed for a product.
  • Discuss the various reasons for the poor value of a product.

Certification

All Alison courses are free to enrol, study and complete. To successfully complete this Certificate course and become an Alison Graduate, you need to achieve 80% or higher in each course assessment. Once you have completed this Certificate course, you have the option to acquire an official Certificate, which is a great way to share your achievement with the world. Your Alison Certificate is:

Ideal for sharing with potential employers - include it in your CV, professional social media profiles and job applications
An indication of your commitment to continuously learn, upskill and achieve high results
An incentive for you to continue empowering yourself through lifelong learning

Alison offers 3 types of Certificates for completed Certificate courses:

Digital Certificate - a downloadable Certificate in PDF format, immediately available to you when you complete your purchase
Certificate - a physical version of your officially branded and security-marked Certificate, posted to you with FREE shipping
Framed Certificate - a physical version of your officially branded and security-marked Certificate in a stylish frame, posted to you with FREE shipping

All Certificates are available to purchase through the Alison Shop. For more information on purchasing Alison Certificates, please visit our FAQs. If you decide not to purchase your Alison Certificate, you can still demonstrate your achievement by sharing your Learner Record or Learner Achievement Verification, both of which are accessible from your Dashboard. For more details on our Certificate pricing, please visit our Pricing Page.

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