The time required for the successful completion of a value analysis/value engineering (VAVE) project can vary significantly for different electronic devices. It depends on several key factors, such as the complexity of the assessed product, the scope of considered modifications, and the size and competency of the team involved in the value and price optimization. Additionally, the stage of the product’s lifecycle when value engineering is performed also affects the time required for completion.
While there is no fixed timeframe for all instances, this article will help you assess the time needed for your particular business case based on the approximate time required by specific steps of the VAVE project.
Table of contents
Preparation phase
The duration of the preparation phase, which includes tasks like identifying business needs and project objectives and gathering relevant data, is determined by the factors mentioned above. Additionally, the availability of competent specialists to join the VAVE team and the accessibility and completeness of required information can impact the duration of this stage. In simpler cases, this stage can be completed within a week.
Analysis of optimization potential
While project complexity is a major factor influencing the duration of the analysis phase, the number of proposed solutions for value optimization also significantly impacts the time required for the project. This core phase of the value engineering project can extend to several months.
Change implementation planning
Implementation planning, another particularly time-consuming part of the VAVE project, involves studying the feasibility of proposed changes and conducting a thorough cost-benefit analysis. This stage also involves the development of implementation schedules.
Implementation of modifications
The time required for implementing product changes depends on the complexity of the device and the lifecycle stage it affects. Modifying a product that is already in production may require more time than altering a product that has not yet reached the manufacturing stage. The implementation process can be completed within several months in some cases but may exceed a year in others.
Post-implementation monitoring
To ensure the VAVE project meets the company’s objectives, post-implementation reviews and data collection are necessary. The specific nature of the changes may require varying durations for the VE team to observe the results of optimization efforts, sometimes extending beyond a year.
Best practices for accelerating a VAVE project
An effective value engineering project requires careful planning and thorough analysis, which naturally demands time and effort. However, efficient tactics can help companies shorten the time required for project completion.
Setting clear objectives and priorities for the project enables the VE team to focus on critical improvements needed in the assessed product. Assembling a qualified interdisciplinary team helps original equipment manufacturers (OEMs) find effective solutions faster, whereas efficient coordination between different departments and stakeholders, including an EMS provider, is crucial to ensure the smooth execution of the planned changes and minimise disruptions to ongoing operations. For example, Poland-based Assel offers valuable insights not only on the manufacturing processes but also on supply chain management.
Moreover, allocating a sufficient budget for the VAVE project helps avoid disruptions. Meanwhile, utilising software and other technology tools can further accelerate the project by automating repetitive tasks, streamlining data collection and analysis, and facilitating team communication.
Time requirements for a VAVE project – conclusions
There is no one-size-fits-all timeframe, as numerous factors including product complexity, scope of modifications, team competency, and project stage within the product lifecycle significantly affect project duration. To streamline value engineering for your device with the assistance of an EMS expert, visit https://asselems.com/en/value-analysis-and-value-engineering-vave-real-benefits-for-the-oem
