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

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

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Industrial Engineering and Production Management
The correct sequence of phases in value engineering is

Information phase, creative phase, investigation phase, evaluation phase
Creative phase, information phase, investigation phase, evaluation phase
Investigation phase, information phase, creative phase, evaluation phase
Creative phase, investigation phase, evaluation phase, information phase

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