Search results
1 – 10 of over 145000Confronts some prevalent misconceptions regarding value engineeringin the construction industry. Argues that value engineering offers amethodology by which a value audit can be…
Abstract
Confronts some prevalent misconceptions regarding value engineering in the construction industry. Argues that value engineering offers a methodology by which a value audit can be implemented during a building′s design. Reviews the value engineering approach, the nature of unnecessary costs, value engineering methodology, and considers the issues of the composition of the value engineering team and problem solving. Concludes that value engineering offers a fundamentally different approach to cost control during the design stage.
Details
Keywords
This paper aims to improve understanding of how to manage global network operations from an engineering perspective.
Abstract
Purpose
This paper aims to improve understanding of how to manage global network operations from an engineering perspective.
Design/methodology/approach
This research adopted a theory building approach based on case studies. Grounded in the existing literature, the theoretical framework was refined and enriched through nine in‐depth case studies in the industry sectors of aerospace, automotives, defence and electrics and electronics.
Findings
This paper demonstrates the main value creation mechanisms of global network operations along the engineering value chain. Typical organisational features to support the value creation mechanisms are captured, and the key issues in engineering network design and operations are presented with an overall framework.
Practical implications
Evidenced by a series of pilot applications, outputs of this research can help companies to improve the performance of their current engineering networks and design new engineering networks to better support their global businesses and customers in a systematic way.
Originality/value
Issues about the design and operations of global engineering networks (GEN) are poorly understood in the existing literature in contrast to their apparent importance in value creation and realisation. To address this knowledge gap, this paper introduces the concept of engineering value chain to highlight the potential of a value chain approach to the exploration of engineering activities in a complex business context. At the same time, it develops an overall framework for managing GEN along the engineering value chain. This improves our understanding of engineering in industrial value chains and extends the theoretical understanding of GEN through integrating the engineering network theories and the value chain concepts.
Details
Keywords
Value engineering has recently made a significant impact in the UKconstruction industry. Many clients are insisting on its application inorder to ensure that the completed…
Abstract
Value engineering has recently made a significant impact in the UK construction industry. Many clients are insisting on its application in order to ensure that the completed building design represents value for money. Project managers are enthusiastically adopting the value engineering approach as a means of managing the early stages of design. The current state of development of value engineering in the UK construction industry is described.
Details
Keywords
Marc Wouters, Susana Morales, Sven Grollmuss and Michael Scheer
The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and…
Abstract
Purpose
The paper provides an overview of research published in the innovation and operations management (IOM) literature on 15 methods for cost management in new product development, and it provides a comparison to an earlier review of the management accounting (MA) literature (Wouters & Morales, 2014).
Methodology/approach
This structured literature search covers papers published in 23 journals in IOM in the period 1990–2014.
Findings
The search yielded a sample of 208 unique papers with 275 results (one paper could refer to multiple cost management methods). The top 3 methods are modular design, component commonality, and product platforms, with 115 results (42%) together. In the MA literature, these three methods accounted for 29%, but target costing was the most researched cost management method by far (26%). Simulation is the most frequently used research method in the IOM literature, whereas this was averagely used in the MA literature; qualitative studies were the most frequently used research method in the MA literature, whereas this was averagely used in the IOM literature. We found a lot of papers presenting practical approaches or decision models as a further development of a particular cost management method, which is a clear difference from the MA literature.
Research limitations/implications
This review focused on the same cost management methods, and future research could also consider other cost management methods which are likely to be more important in the IOM literature compared to the MA literature. Future research could also investigate innovative cost management practices in more detail through longitudinal case studies.
Originality/value
This review of research on methods for cost management published outside the MA literature provides an overview for MA researchers. It highlights key differences between both literatures in their research of the same cost management methods.
Details
Keywords
Marc Wouters and Susana Morales
To provide an overview of research published in the management accounting literature on methods for cost management in new product development, such as a target costing, life…
Abstract
Purpose
To provide an overview of research published in the management accounting literature on methods for cost management in new product development, such as a target costing, life cycle costing, component commonality, and modular design.
Methodology/approach
The structured literature search covered papers about 15 different cost management methods published in 40 journals in the period 1990–2013.
Findings
The search yielded a sample of 113 different papers. Many contained information about more than one method, and this yielded 149 references to specific methods. The number of references varied strongly per cost management method and per journal. Target costing has received by far the most attention in the publications in our sample; modular design, component commonality, and life cycle costing were ranked second and joint third. Most references were published in Management Science; Management Accounting Research; and Accounting, Organizations and Society. The results were strongly influenced by Management Science and Decision Science, because cost management methods with an engineering background were published above average in these two journals (design for manufacturing, component commonality, modular design, and product platforms) while other topics were published below average in these two journals.
Research Limitations/Implications
The scope of this review is accounting research. Future work could review the research on cost management methods in new product development published outside accounting.
Originality/value
The paper centers on methods for cost management, which complements reviews that focused on theoretical constructs of management accounting information and its use.
Details
Keywords
Marco Macchi, Adolfo Crespo Márquez, Maria Holgado, Luca Fumagalli and Luis Barberá Martínez
– The purpose of this paper is to propose a methodology for the engineering of E-maintenance platforms that is based on a value-driven approach.
Abstract
Purpose
The purpose of this paper is to propose a methodology for the engineering of E-maintenance platforms that is based on a value-driven approach.
Design/methodology/approach
The methodology assumes that a value-driven engineering approach would help foster technological innovation for maintenance management. Indeed, value-driven engineering could be easily adopted at the business level, with subsequent positive effects on the industrial applications of new information and communication technologies solutions.
Findings
The methodology combines a value-driven approach with the engineering in the maintenance scope. The methodology is tested in a manufacturing case to prove its potential to support the engineering of E-maintenance solutions. In particular, the case study concerns the investment in E-maintenance solutions developed in the framework of a Supervisory Control and Data Acquisition system originally implemented for production purposes.
Originality/value
Based on literature research, the paper presents a methodology that is implemented considering three different approaches (business theories, value-driven engineering and maintenance management). The combination of these approaches is novel and overcomes the traditional view of maintenance as an issue evaluated from a cost-benefit perspective.
Details
Keywords
Ehsan Mousakhani, Mohammadreza Yavarkhani and Soheyla Sohrabi
Road construction projects are one of the strategic industries in each country and their construction and development requires spending huge funds. Regarding the increased demand…
Abstract
Purpose
Road construction projects are one of the strategic industries in each country and their construction and development requires spending huge funds. Regarding the increased demand and resource constraints; a technique which reduces costs by maintaining and improving the functioning is of great importance for the authorities of each country. Value engineering is a comprehensive and coherent means based on innovation and team work which, in addition to maintaining the quality and improving the project function, reduces its cost and is not limited to the design and construction phase; however, it includes exploitation and maintenance as well. This study aims to present a practical model for the implementation and application of value engineering process in a construction project located in a special region (in terms of tourism, positioning in an economic growth path, and the East-West strategic axis of the region). In this regard, after reviewing the advisor's design, considering the interests of the project stakeholders, reviewing design criteria and assessment methods and with the use of value engineering techniques, a new option was presented which led to a significant reduction in costs and time and an increase of quality, safety, and environmental factors. Finally, including initial costs, repair, maintenance, income and expenses, the relative value index of this option, compared to the advisor's option, increased from 0.9 to 3.5. Based on the increased need for development of roads in the country, exploiting this model in similar projects can significantly improve the project value and the effectiveness of investments.
Design/methodology/approach
This research project was selected with regard to the extremely high credit of the project and its potential in terms of Value Engineering implementation. In this study, technical and financial information were first collected after forming a value engineering team including a value engineering expert who was responsible for coordinating the work, some representatives of the employer, designer, executor, and budget estimator. In functional analysis phase with the use of FAST graph, advantageous, costly, and risky functions were identified. In the creativity phase, ideas related to selected functions were created and investigated and developed in the evaluation phase. Finally, calculating the value index, two variants with higher value index than the baseline plan, were proposed and implemented.
Findings
Since the determining criteria of designing and implementation of road construction projects including increased safety, reduced travel time, user satisfaction, ease of implementation, cost of construction and maintenance and so on are almost similar in most projects, using this study results and implementing its practical framework in other construction projects can be beneficial. These parameters lead to an increase in quality, value, and safety of the project. With regard to done steps and resulted incomes, this essay can be known as a practical and theoretical model to promote the value of crucial projects especially in developing countries.
Research limitations/implications
Sanandaj-Hamedan road with the length 176km connects central provinces of Iran. This study is regarding the first part of this route. Based on the specific topography of the region and the existing road limitations, selecting a good variance with all the features of an ideal road from geometric, economic, and safety aspects is a difficult task.
Originality/value
Employers and project sponsors are always looking for products with greater value and lower cost; therefore, present a practical model for the implementation and application of value engineering process in a construction project and providing a similar work experience can encourage the use of value engineering techniques and significantly improve the project value and the effectiveness of investments.
Details
Keywords
Ayodeji E. Oke, Seyi S. Stephen and Clinton O. Aigbavboa
This paper presents the second-generation estimates for the Italian engineering industry in 1911, a year documented both by the customary demographic census, and the first…
Abstract
This paper presents the second-generation estimates for the Italian engineering industry in 1911, a year documented both by the customary demographic census, and the first industrial census. The first part of this paper uses the census data to estimate the industry’s value added, sector by sector; the second further disaggregates each sector by activity, and estimates the value added, employment, physical product, and metal consumption of each one. A third, concluding section dwells on the dependence of cross-section estimates on time-series evidence. Three appendices detail the specific algorithms that generate the present estimates; a fourth, a useful sample of firm-specific data.
Sweet Ling Adeline Wong and Shao Hung Goh
Bid management is an important presales process that involves not just pricing but also determining requirement fit and managing ambiguities. The purpose of this paper is to…
Abstract
Purpose
Bid management is an important presales process that involves not just pricing but also determining requirement fit and managing ambiguities. The purpose of this paper is to investigate the challenges of coordinating bid activities across the engineering–commercial interface from the systems thinking, contingency, coordination and engineering perspectives.
Design/methodology/approach
A thematic analysis of an internal survey and four embedded case studies were conducted on multiple affiliated business units across diverse product segments and geographic markets in the electronic manufacturing services (EMS) industry.
Findings
The results show that challenges in any EMS bid can be distilled into the inter-related categories of price/cost, quote lead time, cost-accuracy, coordination and technical knowledge/capability. Moreover, the embedded cases suggest that engineering-based solutions, such as quality function deployment, target costing and value engineering, can be useful if suitably applied, but fulfilling diverse bid requests using generic processes can hinder effective bid management.
Research limitations/implications
The authors propose three principles in a framework for EMS bid management, namely (1) bid management can be modelled as an open system; (2) process focus and integration mechanisms are structural requirements in effective bid systems; and (3) a contingency approach can help alleviate the increasing complexity of bids.
Originality/value
This study contributes to the literature by proposing a contingency model of engineering-based approaches according to product archetype and a practical framework for bid management to drive intra-organisational coordination and competitive bids in the EMS industry.
Details