BRE440 Summary 1 Value PDF

Title	BRE440 Summary 1 Value
Author	Bre Dog
Course	Cost And Value Management
Institution	香港理工大學
Pages	2
File Size	71.7 KB
File Type	PDF
Total Downloads	99
Total Views	152

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Summary for topic "Value" ...

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BRE440   Summary1   Notionofvalue  Value ‐verysubjectiveconcept ‐hasdifferentmeaningsfordifferentpeople  DIFFERENTValuetodifferentstakeholders "bestbuy” "lowestcost“ "highestfunctionality” ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ Example:gold,steel,aluminum  Cost:gold>aluminum>steel  Value:itdepends  ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐ ‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐‐  "Valueisacombinationofdreamandconcern.   Dreamistheideaonehasofaproduct;concerniswhenyougettheproductand wonderifyou'vehadyourmoney'sworth.”  simplequality/costratio  Value‐customer‐orientednotion  Valueincreaseswhen  1.SatisfactionoftheCustomer'sneedaugments  2.Expenditureofresourcesdiminishes    Customervalue:Balancebetweenqualitynresources =Needs+Objectives+Targets/MaximumOverallResourcesExpended 

Quality:theratioofwhatisofferedvswhatisexpected  Resourcesshouldbebalancedbetweenwhatisavailableandwhatisrequired.   Valuemanagement(VM)  ‐notmerelytoreducecostsbuttobalanceperformancewithcost Thengoodvalue,afterbalancing   Valueconcept: offeredquality/expectedquality  availableresources/requiredresources  TypesofValues  UseValue‐Theamountofcurrentresourcesexpendedtorealizeafinishedproduct thatperformsasitwasintended.   EsteemValue‐Theamountofcurrentresourcesauseriswillingtoexpendfor functionsattributabletopleasingratherthanperforming;e.g.,prestige,appearance, andsoon.  ExchangeValue‐Theamountofcurrentresourcesforwhichaproductcanbetraded. Itisalsocalledworth,astheminimalequivalentvalueconsidered  CostValue‐Theamountofcurrentresourcesexpendedtoachieveafunction measuredindollars   FunctionValue‐Therelationshipoffunctionworthtofunctioncost  Example:WaterandDiamond  Dailylife:VauleofDiamond>Water  Desert:ValueofWater>Diamond   ...