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Which of the following is a tool for analyzing a design, determining its functions, and assessing how to provide those functions’ cost effectively?
A. Pareto diagram
B. Value analysis
C. Configuration management
D. Value engineering
Correct Answer: D
Explanation/Reference:
Explanation:
Value engineering considers possible cost tradeoffs as a design evolves. The technique entails identifying the functions that are needed and analyzing the cost effectiveness of the alternatives available for providing them. It helps optimize project life cycle costs, save time, increase profits, improve quality, increase market share, solve problems, and contribute toward more effective resource use.
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