Problem Solving Techniques #2: Value Analysis

[@lamchuanlim]

My comment on the VA for mouse trap; the overriding criteria for redesisign should be based on value which according to your definition is worth over cost.and should not be based on cost alone. As such since the "prevent escape' function of the Hammer which is valued highly by customer should be the first to be redesigned as competitor's functionality is better and should ranked highest in priority by customers. Further more, its cost is the lowest ,so even if it is increased when we redesigned it to match the competitor so as to provide better customer's satisfaction (worth) the overall value preposition (worth/cost) should end up better.So it is my humble opinion that the criteria for the VA in the table should be based on Value not cost (which is only the denominator). It is the relative amount of worth over cost that matters ,not just based on costs reduction alone. We should not ignore the nominator ,ie worth (according to customer's perception) If we based on cost alone,the value preposition might not be optimized and we will lose out on the competitive advantage angle.Overall, i still think that your video is good

[@EugeneOLoughlin]

Hi mecantfindadamname - First, many thanks for watching my video. The simple formula I use is to set the scene about "Value" and help people understand at its simplest what value is. I don't factor this into the mouse trap later in the video. The rating used is simply the percentage of total cost that each function. Hope this helps, Dr E.

[@pinkymixology4965]

The metal band on the pencil is called the ferrule.

[@Streety2]

Nice one Dr. O'Loughlin.

[@suneetachauhan1984]

Thanks Mr Eugene for the clearing my doubt

[@russell519]

The equations make intuitive sense value = worth/cost but I can't see how you connected that to the example. I know I'm supposed to be paying attention to cost, percentage and the final priority rating but I don't see how you got the rating or how you factored customer importance and competitor design into it.

[@EugeneOLoughlin]

HI drizzabone - no, the slides are not available. but you are welcome to use the video as you wish. Eugene

[@EugeneOLoughlin]

Hi suneetachauhan1984 - first, many thanks for viewing my video, I hope you found it useful. Value Engineering is usually used when developing new products/services and how to improve value before they are created, eg in a manufacturing process. Value Analysis is the discipline where you examine existing products to improve value. Hope this helps, Dr E.

[@manitathakur1314]

sir what u have said like value anaysis is more about what an object ??? rather than how the object is made...please clear .. i mean what u have sais after object i cant understand ..is it tool or too??

[@miriamnork5163]

In the cost column, please advise if these are estimated or actual costs?

[@EugeneOLoughlin]

Hi Miriam, Costs can be either estimated or actual. Some components will be easy to determine cost. For example - in the mouse trap example above, the components can be accurately costed as they are individual items that must be purchased to build the mouse trap. So - the "Platform" component actual cost is 0.12 + 0.07 + 0.08 + 0.06 = 33 cent. For functions - apportioning cost is more difficult, but is a key part of Value Analysis. This is more likely to be an estimate and you may need to call on experts to help estimate costs. Hope this helps, Dr E.

[@miriamnork5163]

@@EugeneOLoughlin Thank you

[@arrehman11222]

Great effort (Y)

[@NarayanaRaoKVSS]

Value Engineering - Value Analysis Techniques - KZbin Video Playlist kzbin.info/www/bejne/eHmrXoSQZ554hdE

[@taquerrehmankhan6420]

My cpa material direct me to this link, must say was helpful

[@briandomingo4106]

How do you compute for "worth"?

[@vsuwanda8362]

v clear explanation in 9mins! Thanks!!

[@davidmatlaw7833]

As usual, Eugene O'Loughlin does great job!!

[@drizzabone]

Hi Eugene, are your lecture slides available for download?

[@NarayanaRaoKVSS]

Interesting point: See how Value Analysis can be used to help determine improvement and re-design priorities. All 13 Value Analysis & Engineering Techniques of L.D. Miles with examples - Video Presentations kzbin.info/www/bejne/eHmrXoSQZ554hdE

[@tusharchoudhary16]

Thank You

[@lexiew682]

Awesome video, is it possible if you could slow down a little bit? :P

[@victorivo7321]

if you click on settings you can choose the speed of the video.

[@suneetachauhan1984]

How Value analysis is different to value engineering?

[@EugeneOLoughlin]

Hi ChinaBecky, Use Google to search for tools that allow you to download KZbin videos. KZbin itself does not provide this. E.

[@raonarayana8356]

Value Analysis Technique - Identify and Overcome Roadblocks kzbin.info/www/bejne/iHOcaoOBoZiSibM

[@qilinmelb]

@ChinaBecky "savevid.com" You can dowload youtube via this link

[@VitalisCarbone]

Talking too fast making it hard to absorb the material.