The technical specialty Value Engineering, conceived during World War II in General Electric Co., today is recognized as an effective approach for product improvement and technological advancement, and for cost reduction. In recent years, many consumer and defense industries have augmented their efforts to reduce product costs by introduction of value engineering programs.
This paper: (1) provides a history of value engineering; (2) describes philosophy and techniques of value engineering; (3) demonstrates the effectiveness and acceptance of value engineering by presenting results of programs instituted in several companies; and, (4) relates experiences and procedures at Eclipse-Pioneer Div. of Bendix.
The case study is presented with emphasis on the impact value engineering has on top management and management personnel.
