Which of the following describes the process that the project team is undertaking?

Lider Ltd is a leading bathroom furniture manufacturer in India. The company has more than 30 years experience in the market with extended knowledge of engineering and customers’ taste. Lider is planning to launch a new type of bath fitting next year which offers Bluetooth connectivity and thermostat display. The company gathers a team of multi-disciplines, including engineering, procurement, sales and marketing. At the first team meeting, the project leader tells the team to discuss which functions will be valued by the customers, and how to deliver those functions with the lowest costs possible.

Which of the following describes the process that the project team is undertaking?
A . Cost analysis
B . Standardisation
C . Value engineering
D . Just in time

View Answer

Answer: C

Explanation:

From the scenario, you can see that the project team is developing a new product. They start with analysing the functions, and the costs of delivering those functions. This is a typical process of value engineering. You may read more on value engineering from the reference paper.

Reference: – CIPS study guide page 171-173

– Value Analysis – Norwood Whittle (cimaglobal.com)

– A CASE STUDY ANALYSIS THROUGH THE IMPLEMENTATION OF VALUE ENGI-NEERING (researchgate.net)

LO 3, AC 3.4