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COST ENGINEERING WITH QFD: A MATHEMATICAL MODEL

Journal: International Journal for Quality Research (Vol.5, No. 1)

Publication Date:

Authors : ; ; ;

Page : 33-37

Keywords : Cost engineering; Quality Function Deployment; Value Engineering; Target costing;

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Abstract

Cost engineering helps the firms in decision-making with respect to product development. It is primarily concerned with cost estimation and cost control. Decisions made during the design phase have a significant influence on development and life cycle costs. The effective cost management during the design phase of a product is essential to develop a product with minimum cost and desired quality of the customer. In this paper a mathematical model is established by incorporating cost engineering techniques such as Target Costing (TC) and Value Engineering (VE) with Quality Function Deployment (QFD) to develop a product. An illustrative example is also presented.

Last modified: 2015-11-22 20:18:34