Question

Q2 explain value analysis process in detail.

Answer 1

Process Value Analysis (PVA) is the examination of an internal process that businesses undertake to determine if it can be streamlined. PVA looks at what the customer wants and then asks if a step in a process is necessary to achieve that result.

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Answer 2

Value Analysis is one of the major techniques of cost reduction and control. It is a disciplined approach which ensures the necessary functions for the minimum cost without diminishing quality, reliability, performance and appearance.

It is a creative approach to eliminate the unnecessary costs which add neither to quality nor to the appearance of the product. It is a systematic application of techniques to identify the functions of a product or a component and to provide the desired function at the lowest total cost.

These are the days of providing the customer with really best quality products at least cost which is possible through value analysis which proves wrong rightly “Best and Cheap” or “Best is never cheap” or “Cheap is Costly”.