Answered: 1. Write the objectives and procedure…

Engineering Fundamentals: An Introduction to Engineering (MindTap Course List)

5th Edition

ISBN:9781305084766

Author:Saeed Moaveni

Publisher:Saeed Moaveni

Chapter20: Engineering Economics

Section: Chapter Questions

Problem 12P

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1. Write the objectives and procedure of value engineering. Assume a sum of $10,000 is invested for one year at 10% interest. What is the future value of that money?

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Step 1

Objectives and procedure of value engineering:

The main objective is to cut back project price, while not reducing the standard.
Cost reduction is often achieved by taking advantage of the present streets and utilities, or the prevailing winds and accessible star
There could also be price savings in removing unnecessary options like insulation in walls and roofs in unwarmed areas.
There could also be the price in merely ever-changing the form of the sewer pipe from spherical to oval, supported convenience of the precise kind.
The needed depth of excavation could also be reduced as a result of the amendment.
Value Engineering amendments ought to toturn out a facility that also performs equivalent functions because it did before the change was created.
The price of the ability ought to stay undisturbed while not price

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