Word on the Street by Kevin Carty
This week started with a call from a Classic Exhibits distributor regarding an existing quote that needed to be re-addressed. The week finished by reviewing client notes from a distributor on a project quoted several days ago.
Both the phone call on Monday and the email from this morning (as well as a conversation on Wednesday) involved the buzz word “Value Engineering.”
How many of you just cringed? : – )
So I went to Google to see the current definition of Value Engineering, and the two highest results were from Wikipedia and the US Army Corps of Engineers.
Wikipedia says . . .
Value engineering (VE) is a systematic method to improve the “value” of goods or products and services by using an examination of function. Value, as defined, is the ratio of function to cost. Value can therefore be increased by either improving the function or reducing the cost. It is a primary tenet of value engineering that basic functions be preserved and not be reduced as a consequence of pursuing value improvements.
The US Army Corps of Engineers says . . .
Value Engineering is defined as “an analysis of the functions of a program, project, system, product, item of equipment, building, facility, service, or supply of an executive agency, performed by qualified agency or contractor personnel, directed at improving performance, reliability, quality, safety, and life cycle costs.”
As it relates to the two projects mentioned earlier, it would appear that the clients (endusers) want a blend of the two definitions. From an aesthetic and functional standpoint, they want exactly what the Distributor and Classic Exhibits designed — but for less money.