Industrial Engineering and Production Management
Value engineering aims at finding out the

Resale value of a product
Depreciation value of a product
Break-even point when machine requires change
Major function of the item and accomplishing the same at least cost without change in quality

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Industrial Engineering and Production Management
Work study is mainly aimed at

Developing the standard method and standard time of a job
Establishing the minimum time of completion of a job
Determining the most efficient method of performing a job
Economizing the motions involved on the part of the worker while performing a job

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