Function cost is a tool used in value studies to help illustrate the relationships between project elements. Interactions between elements and their perceived value are examined and then used to provide insight into cost.
Through a function cost analysis each project component (function) is identified and assigned an estimated cost. Then, these figures are compared to their perceived value. The exercise yields determinations about value mismatches, shedding light on problem areas. The primary objective of this concept is to achieve the highest user satisfaction while decreasing function costs. This powerful tool is the keystone of effective value planning.
The concept of function cost is widely recognized in theory, but lacks an abundance of documented practical examples. In this presentation, five case studies are drawn from various infrastructure design projects. A series of function cost analyses were incorporated in these projects during the planning phase, and invaluable insight was realized as a result.
The following case studies were conducted:
Case Study 1 - Value is achieved through function cost increases.
Case Study 2 - Value is achieved though reducing cost via selection of an alternate.
Case Study 3 - Value is increased through comprehensive understanding of function cost through the eyes of the client.
Case Study 4 - The perception of cost allocation is explored, with reallocation of the proper function cost elements.
Case Study 5 - Simple solution leads to decreased cost and increased value.
This presentation will walk attendees through the processes of an actual function cost exercise. The information shared here will provide an understanding of how the delicate balance between cost and user satisfaction can be managed. A variety of graphical exhibits will be presented that help explain the importance of this tool and its impact on the engineering industry.
Pour assumer les enjeux de nos mandats professions, il est essentiel de faire appel à des ressources et à des savoirs disponibles au sein d’équipes de travail, comme nous enseigne la méthodologie de l’analyse de la valeur.
Une bonne analyse des besoins en compétences pour réaliser chaque atelier d’analyse de la valeur, permet de rassembler à la fois, diversité, complémentarité et intégralité des savoirs