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Value engineering can lead to the substitution of lower-cost materials, as with the exterior cladding that accelerated the Grenfell Tower fire in London. [1] [2]Value engineering (VE) is a systematic analysis of the functions of various components and materials to lower the cost of goods, products and services with a tolerable loss of performance or functionality.
Value-stream mapping has supporting methods that are often used in lean environments to analyze and design flows at the system level (across multiple processes).. Although value-stream mapping is often associated with manufacturing, it is also used in logistics, supply chain, service related industries, healthcare, [5] [6] software development, [7] [8] product development, [9] project ...
The value chain framework quickly made its way to the forefront of management thought as a powerful analysis tool for strategic planning. The simpler concept of value stream mapping , a cross-functional process which was developed over the next decade, [ 15 ] had some success in the early 1990s.
In cybernetics and control theory, a setpoint (SP; [1] also set point) is the desired or target value for an essential variable, or process value (PV) of a control system, [2] which may differ from the actual measured value of the variable.
Measurement of process variables is essential in control systems to controlling a process. The value of the process variable is continuously monitored so that control may be exerted. Four commonly measured variables that affect chemical and physical processes are: pressure, temperature, level and flow.
To measure cost performance, planned value (BCWS) and earned value (BCWP) must be in the same currency units as actual costs. In large implementations, the planned value curve is commonly called a Performance Measurement Baseline (PMB) and may be arranged in control accounts, summary-level planning packages, planning packages and work packages.
Global process models are presented using different methodologies and sometimes under different names. Most notably, they are named process map in Visual Paradigm [3] and MMABP, [2] value-added chain in ARIS, [4] and process diagram in Eriksson-Penker notation [5] – which can easily lead to the confusion with process flow (detailed process ...
Process analysis is a form of technical writing and expository writing "designed to convey to the reader how a change takes place through a series of stages". [1]While the traditional process analysis and a set of instructions are both organized chronologically, the reader of a process analysis is typically interested in understanding the chronological components of a system that operates ...