Value engineering is a systematic method aimed at improving the value of a product, project, or service by assessing its function and identifying ways to reduce cost while maintaining or enhancing quality and performance. The primary goal of value engineering is to optimize the balance between function, cost, and performance, ensuring that resources are used efficiently. Key components of value engineering include: 1. **Function Analysis**: Identifying and analyzing the functions of a product or project to understand their importance and costs.
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