Asked by Mariam Jaser on Jun 21, 2024
Verified
In value engineering and value analysis,value can be expressed as: Price ÷ Cost.
Value Engineering
A systematic method to improve the "value" of goods or products and services by using an examination of function.
Value Analysis
A systematic assessment to reduce costs while maintaining or improving performance and quality in products or processes.
- Comprehend the importance and uses of cost management instruments, such as activity-based costing, the learning curve, and total ownership cost.
Verified Answer
AB
Arnav BallaniJun 22, 2024
Final Answer :
False
Explanation :
Value can be expressed as function or benefit divided by cost, not price divided by cost.
Learning Objectives
- Comprehend the importance and uses of cost management instruments, such as activity-based costing, the learning curve, and total ownership cost.