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What (who) is value engineering - definition
Value (economics)
MEASURE OF THE BENEFIT PROVIDED BY A GOOD OR SERVICE TO AN ECONOMIC AGENT
Monetary value; Value for money; Economic value; Theory of value(economics); Financial value
In economics, economic value is a measure of the benefit provided by a good or service to an economic agent. It is generally measured through units of currency, and the interpretation is therefore "what is the maximum amount of money a specific actor is willing and able to pay for the good or service"?
engineering
![A water-powered [[mine hoist]] used for raising ore, ca. 1556](https://commons.wikimedia.org/wiki/Special:FilePath/Agricola1.jpg?width=200 "A water-powered [[mine hoist]] used for raising ore, ca. 1556")
![A drawing for a [[steam locomotive]]. Engineering is applied to [[design]], with emphasis on function and the utilization of mathematics and science.](https://commons.wikimedia.org/wiki/Special:FilePath/Booster-Layout.jpg?width=200 "A drawing for a [[steam locomotive]]. Engineering is applied to [[design]], with emphasis on function and the utilization of mathematics and science.")
![fluid flow]] and the [[heat equation]]s.](https://commons.wikimedia.org/wiki/Special:FilePath/CFD Shuttle.jpg?width=200 "fluid flow]] and the [[heat equation]]s.")
![rotor and stator]] as well as the [[steam cycle]] all need to be carefully designed and optimized.](https://commons.wikimedia.org/wiki/Special:FilePath/Dampfturbine Montage01.jpg?width=200 "rotor and stator]] as well as the [[steam cycle]] all need to be carefully designed and optimized.")
![Radar, [[GPS]], [[lidar]], ... are all combined to provide proper navigation and [[obstacle avoidance]] (vehicle developed for 2007 [[DARPA Urban Challenge]])](https://commons.wikimedia.org/wiki/Special:FilePath/ElementBlack2.jpg?width=200 "Radar, [[GPS]], [[lidar]], ... are all combined to provide proper navigation and [[obstacle avoidance]] (vehicle developed for 2007 [[DARPA Urban Challenge]])")
![Genetically engineered mice expressing [[green fluorescent protein]], which glows green under blue light. The central mouse is [[wild-type]].](https://commons.wikimedia.org/wiki/Special:FilePath/GFP Mice 01.jpg?width=200 "Genetically engineered mice expressing [[green fluorescent protein]], which glows green under blue light. The central mouse is [[wild-type]].")
![Relief map of the [[Citadel of Lille]], designed in 1668 by [[Vauban]], the foremost military engineer of his age.](https://commons.wikimedia.org/wiki/Special:FilePath/Grondplan citadel Lille.JPG?width=200 "Relief map of the [[Citadel of Lille]], designed in 1668 by [[Vauban]], the foremost military engineer of his age.")
![Offshore platform, [[Gulf of Mexico]]](https://commons.wikimedia.org/wiki/Special:FilePath/Gulf Offshore Platform.jpg?width=200 "Offshore platform, [[Gulf of Mexico]]")
![[[Hoover Dam]]](https://commons.wikimedia.org/wiki/Special:FilePath/Hoover dam from air.jpg?width=200 "[[Hoover Dam]]")
![Kismet]] can produce a range of facial expressions.](https://commons.wikimedia.org/wiki/Special:FilePath/Kismet-IMG 6007-gradient.jpg?width=200 "Kismet]] can produce a range of facial expressions.")
![[[Leonardo da Vinci]], seen here in a self-portrait, has been described as the epitome of the artist/engineer.<ref name="Bjerklie, David"/> He is also known for his studies on [[human anatomy]] and [[physiology]].](https://commons.wikimedia.org/wiki/Special:FilePath/Leonardo da Vinci - presumed self-portrait - WGA12798.jpg?width=200 "[[Leonardo da Vinci]], seen here in a self-portrait, has been described as the epitome of the artist/engineer.<ref name=\"Bjerklie, David\"/> He is also known for his studies on [[human anatomy]] and [[physiology]].")
![The ''[[InSight]]'' lander with solar panels deployed in a cleanroom](https://commons.wikimedia.org/wiki/Special:FilePath/PIA19664-MarsInSightLander-Assembly-20150430.jpg?width=200 "The ''[[InSight]]'' lander with solar panels deployed in a cleanroom")
![aqueducts]] to bring a steady supply of clean and fresh water to cities and towns in the empire.](https://commons.wikimedia.org/wiki/Special:FilePath/Pont du Gard BLS.jpg?width=200 "aqueducts]] to bring a steady supply of clean and fresh water to cities and towns in the empire.")
![The [[International Space Station]] is used to conduct science experiments in space](https://commons.wikimedia.org/wiki/Special:FilePath/The station pictured from the SpaceX Crew Dragon 5 (cropped).jpg?width=200 "The [[International Space Station]] is used to conduct science experiments in space")
![The application of the steam engine allowed coke to be substituted for charcoal in iron making, lowering the cost of iron, which provided engineers with a new material for building bridges. This bridge was made of [[cast iron]], which was soon displaced by less brittle [[wrought iron]] as a structural material](https://commons.wikimedia.org/wiki/Special:FilePath/The world's first iron bridge.jpg?width=200 "The application of the steam engine allowed coke to be substituted for charcoal in iron making, lowering the cost of iron, which provided engineers with a new material for building bridges. This bridge was made of [[cast iron]], which was soon displaced by less brittle [[wrought iron]] as a structural material")
![Engineers, scientists and technicians at work on target positioner inside [[National Ignition Facility]] (NIF) target chamber](https://commons.wikimedia.org/wiki/Special:FilePath/Worker inside the target chamber of the National Ignition Facility.jpg?width=200 "Engineers, scientists and technicians at work on target positioner inside [[National Ignition Facility]] (NIF) target chamber")
![Graphic representation of a minute fraction of the WWW, demonstrating [[hyperlink]]s](https://commons.wikimedia.org/wiki/Special:FilePath/WorldWideWebAroundWikipedia.png?width=200 "Graphic representation of a minute fraction of the WWW, demonstrating [[hyperlink]]s")
APPLIED SCIENCE
Engineered; Engeneering; Enginering; Graduate Diploma in Engineering; Technical science; Engineerig; Engineering (profession); Engineering (practice); Engineering (skill); Enginreeing; Science and engineering; Science and Engineering; Engineering subjects; Engineering branch
Frequency: The word is one of the 3000 most common words in English.
Engineering is the work involved in designing and constructing engines and machinery, or structures such as roads and bridges. Engineering is also the subject studied by people who want to do this work.
...graduates with degrees in engineering.
N-UNCOUNT
Engineering
APPLIED SCIENCE
Engineered; Engeneering; Enginering; Graduate Diploma in Engineering; Technical science; Engineerig; Engineering (profession); Engineering (practice); Engineering (skill); Enginreeing; Science and engineering; Science and Engineering; Engineering subjects; Engineering branch
Examples of use of value engineering
1. Value engineering is a systematic method to improve the ‘value’ of goods and services by using an examination of function.
2. Prince Khaled made the observation while opening the fourth Value Engineering Conference for the Gulf region in Jeddah.
3. Staff Report Dubai ÷ The UAE Planning and Economy Department recently granted Convrgnt Value Engineering LLC grade I listing in the General Contracting category, for its Abu Dhabi operations.
4. The prince pointed out that introducing value engineering in the Kingdom and other Gulf countries in the recent years has saved more than SR5 billion.
5. Prince Khaled underscored the importance of adopting value–engineering principles in the Kingdom particularly when the country was passing through an economic boom.