Abstract
Recently considerations regarding Target Costing and Cost Management have been focussed on Value Engineering (VE). In the stage of the Function Evaluation, one of the most significant stages of the VE job plan, either the absolute evaluation by amount of money or the relative evaluation by rating is employed, to evaluate the function of items and to determine the priority of improvement in the value. Although fuzziness is a constituent of both methods, there are no techniques in VE to address such fuzziness. The author proposes therefore, to introduce the Fuzzy Theory into the evaluation in order to address such fuzziness practically and systematically. Furthermore, in order to demonstrate how the proposed method works, practical examples of the evaluation of function are provided for which the priority of improvement has been successfully identified.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
