The purpose of this project is to assess whether the students have understood the concepts of innovation and adding value, whether by optimizing costs or adding value for an identified target market. They will show this by identifying these points in the case study and explaining which processes and tools the selected company or individuals utilized to attain their results. Using what they have learned in class, the groups will recommend possible value adding actions and/or innovations for the company’s future.Overall aim: The overall aim of the project is to gain a better understanding of the VE process by analyzing it step by step using the case study while using the same tools to make recommendations for the future.Learning outcomes (from the CRS):- Critically evaluate the creation and delivery of “value”.- Contrast and compare the different concepts, tools and frameworks that lead to and support value engineering.Organization & methodology:The groups should work together to produce a written document which will be handed in on week 13 that includes the following content:¥ Brief history of the case.¥ Who is/are the target market and what do they value?¥ Analyze what does the product/service need to do?¥ Using the value analysis models, depict, how does it provide value to the target market?¥ Where has value been engineered and efficiencies identified?¥ How has value been added without increasing cost?¥ Old and new methods and/or technologies utilized.¥ How has or might this disrupt the industry?¥ Conclusion and recommendations moving forward?The document shall comprise 2000 words +/- 10% excluding cover page, authorship statement and appendices (see below):The document shall include in depth and referenced research including facts and figures, an analysis and explanation of these findings as well as recommendations for the future of the company based on VE tools and relevant developments and observations.
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