Capacity Planning – Meaning, Classification and its Goals
February 12, 2025
If the data type that needs to be charted is discrete, then it must fall between one of binary or count types. As the name suggests in case of binary distribution, there are only two possibilities, success and failure, defective and not defective, whereas in the case of count type distribution there may be more […]
Business Process Improvement Projects have become a way of life with every Business Organization where they initiate these projects to elevate their internal operational efficiencies to achieve higher benchmark and to help them build an edge over competition. BPI projects help not only increase the efficiency of the operations, but benefit by reducing the cost […]
In modern times, the Business Rules are changing every day. Every Business, be it a Product or a Service, changing its way of doing business to suit the customer expectations has become the rule of the day. Technology has become the enabler for the businesses to reinvent their offerings as well as their operations. Businesses […]
Types of Variables In the equation – Y = f(X), Y is the dependent variable and it is dependent on the variable X. In other words, when there is a change in value of X then value of Y will automatically change. The following are the characteristics of both types of variables: Y X Dependent […]
What is Five Why’s Analysis? The Five Why’s analysis, also known as the root cause analysis is one of the seven basic tools that are used in Six Sigma. The principle idea behind the tool is the fact that for every effect there is a cause. Therefore the quality problem can be viewed as an […]
All organizations strive to create value for their customers. This value creates mind space for product and services. Value analysis, therefore, is a scientific method to increase this value.
Value is a perception hence every customer will have their own perceptions on how they define value. However, overall at the highest level, value is quality, performance, style, design relative to product cost.
Increasing value necessarily does not mean decrease in all-inclusive cost of production but providing something extra for which a premium can be charged.
The objective and benefits of value analysis can be summarized as below:
Activities for value analysis are separated into following activities:
The process of value analysis is carried out by value analysis team. So it becomes paramount that team selection for value analysis also follows a structured process.
Value analysis team consists of trained and qualified team members who have background and knowledge about the project. Team leader is selected by the project manager. Team size for value analysis is 5 to 8.
Value analysis process can be divided into three phases of mainly - pre-analysis, analysis and post analysis.
Function analysis is required to transform the project elements from design of product towards function of product. The main categories are Basic, Secondary, Required Secondary Aesthetic, Unwanted, Higher Order and Assumed.
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