At Able, we believe that the value of a product lies in treading a fine balance between the functionalities of the product and the cost to make those modifications available in the product. We help our clients capitalize on their investment, by involving our teams of engineers, and sales and marketing professionals, to find the right balance between functionalities and cost. Our approach for value engineering is disciplined and detailed as shown below.
1. Information gathering or Data accumulation:
- The team starts with a detailed study of the product market to gather vital answers for questions like: What is the intended objective of the Product? What should it be able to do? What other functionalities could the product have?
2. Creation of Alternatives:
- The team goes through a brain storming session to find various alternative ways of meeting product requirements. What new functions could be added to enhance the desirability of the product?
- The alternatives are assessed by evaluating how well they meet the required functions and how effective they will be in reducing the cost of creating the product. Along with introducing new and innovative features/functions, we do a thorough validation to ensure the feasibility of the features/functions introduced.
- Once a set of features/functionalities are created, we review the options with the client to share our findings, proposals and recommendations. Based on the Client feedback and direction, the features/functionalities are finalized and submitted.