Value Analysis; Technique For Management Efficiencies
Value Analysis employs the application of project management processes and techniques learnt for management efficiencies and also for retention of employees and cost reduction. This is done through practical application of techniques by participants generating, evaluating and prioritization of viable ideas worthy of implementation guaranteed to affect positively the bottom line of institutions. Consult or employ qualified learned and experienced individuals or companies with a lot of cost reduction strategic practice and proven lean six sigma principles know how.
The theory alone will not help you or your institution. Theory coupled with vital practical cost reduction strategies with lean six sigma approaches embodied in next level proven project management yields measurable results. The application of value analysis transcend all professional fields from the arts to the sciences. When incorporated at the beginning of a function, service or product initiation it is commonly referred to as Value Engineering. When applied after the implementation of a function, service or product we refer to it as Value Analysis. Most industries and institutions including but not limited to Financial, Healthcare, Information Technology, Tourism and Travel, Manufacturing, Energy, IT Construction and Government benefit tremendously.
Emphasis must be placed on functionality, cost and quality. When value formula and practical method analysis are applied correctly in industry with the efficient use of next level project management processes, the following vital gains will be realized.
• Additional revenues generated results in increased financial bottom line.
• Retention of employees
• Cost Reduction
• Supplier value chain analysis improvement.
• Labor cost is mitigated
• Competitive edge
• Be the benchmark for the competition
• Customer satisfaction improves
Again, the emphasis on Value Analysis is on vital cost reduction strategies backed by efficient project management processes and practical experience. When implemented correctly with a little human touch, laying off employees and corporate bottom line falling off into bankcruptcy should be a thing of the past.