2) Define value engineering & analysis. Discuss briefly the various approaches for VE and VA. Value Engineering (VE) or Value Analysis (VA) is an important and powerful approach for improvement in the performance of the products‚ systems or procedures and reduction in costs without jeopardising their function. L.D. Miles defined Value Analysis in his book Techniques of Value Analysis and Engineering (1961) as "an organised creative approach which has for its purpose the efficient identification
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Evaluate the claim that “moral values cannot be derived from facts” The claim that moral values cannot be derived from facts concerns the distinction between facts and values and the difference between what is and what ought to be. There are those who argue that the claim is false‚ such as naturalists‚ who argue that there are indeed natural facts thus suggesting that moral values can be indentified as possessing empirical properties. Naturalists suggest that moral truths can be derived from
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Time Value of Money Time Value of Money (TVM) is an economic theory that suggests the idea that money available today is more valuable now versus the future. Three reasons for TVM are inflation‚ risk and liquidity (Investopedia‚ 2008). As a result‚ borrowers charge interest to ensure that the value of their money is not eroded by inflation. Inflation is an increase in the cost of goods and services provided. Risk is the possibility that an investment may yield different results than the results
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Think about having to lie and say you see the devil or else you get hung. This is what it was like for some of the puritans. The puritans had positive and negative traits‚ one of the positive traits was‚ they were fearful. One of the negative traits was that they were strict. In this movie it’s taught to make the right choice. This is explained well in Arthur Miller’s The Crucible‚ and in Johnathon Edward’s Sinners in the Hands of an Angry God. A few other readings explain well positive and negative
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would use the time value of money to determine loan payment schedules and the number that students most fear‚ the ending balance‚ the future value of the loan. Credit card companies would use the formula for present value of an annuity to determine the payment schedule‚ and they would use the formula for future value of an annuity to determine how much money the student will end up paying the credit card company at the end of student loan. Insurance companies also use time value of money. A structured
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The time value of money A rupee today is more valuable than a rupee a year hence. Thus money has time value this is because of several reasons:-1) Individuals‚ in general prefer current consumption to future consumption.2) In an inflationary period‚ a rupee today represents a greater real purchasing power than a rupee a year hence.3) Capital can be employed productively to generate positive returns. An investment of one rupee today would grow to (1+r) a year hence (r is the rate of return earned
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Policy brief january 2010 POPULATION REFERENCE BUREAU BY James gribble investing in Youth for national Development Despite the commitment of many policymakers and advocates to addressing the ever-increasing sexual and reproductive health needs of youth‚ calls for appropriate programs‚ services‚ and funding have gone largely unanswered. Youth around the world remain at high risk of unplanned pregnancy‚ HIV/AIDS‚ and sexually transmitted infections‚ even though many small-scale programs
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desirable than studying at an overseas university. Also‚ I’d like you to think about the difference between Marginal & Average Cost and Marginal & Average Benefit (questions 5 & 6 test you on this). 3 The opportunity cost of an activity is the value of: a an alternative forgone. b* the next-best alternative forgone. c the least-best alternative forgone. d the difference between the chosen activity and the next-best alternative forgone. e the alternative one would have
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3. Value chains: Real or Virtual? With the steady grown in the country’s economy as well as the people’s living standards‚ the rhythm of people’s living is speeding up and a lot of changes have taken place in their daily life. The discussion about whether or not the Value chains is real or virtual is a very controversial one. Many people take the view that the reality of the value chain has a strong applied legacy. Nevertheless‚ there are also a majority of people insist that the value chain is
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Value Chain as Competitive Advantage Unit 3 Assignment Christine Washington GB570 Managing the Value Chain Jerry Haenisch‚ Professor Kaplan University November 12‚ 2012 Value Chain as Competitive Advantage Effective value chain as a competitive advantage can contribute significantly to the prosperity of a firm in the competitive arena‚ but it can cause dire situations if not operated properly (Guy‚ 2011). However‚ there are conflicts among companies as to how stakeholders think they
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