The paper describes an effort to improve the industrial engineering course knowledge of a group of mechanical engineering students who are in 4th semester. The purpose of the research was to evaluate the efficacy of the "out of classroom" teaching strategy in the context of skill sets appropriate for the business and industry domains. The main emphasis is given on “Value Engineering” and “Value Analysis” techniques. The students were divided into group of clusters and they have been assigned in various projects by subject faculty which contains deferent levels to complete. The results show that the learning strategy can improve management, business, and engineering abilities, and that it has the capacity to do so in a single semester of study. Keywords— Value Engineering; Value Analysis; S.W.O.T. Analysis