of people following a structured process. The process helpsteam members communicate across boundaries, understanddifferent perspectives, innovate, and analyze.
When to useit
to analyze and understand the detail of specific situations.Use it to find a focus on key areas for innovation.Use it in reverse (called
) to identifyspecific solutions to detail problems.It is particularly suited to physical and mechanical problems,but can also be used in other areas.
How it works
Value Analysis (and its design partner, Value Engineering) isused to increase the value of products or services to allconcerned by considering the function of individual items andthe benefit of this function and balancing this against thecosts incurred in delivering it. The task then becomes toincrease the value or decrease the cost.
Q3. Explain different types of Quantitative models.Differentiate between work study and motion study.
Ans. Quantitative models are needed for a variety of management tasks, including