Systematic evaluation of value chain, to reduce costs and high quality to achieve satisfied customers is known as

A. reverse engineering

B. value engineering

C. target engineering

D. operation engineering

Answer: Option B

Solution(By Examveda Team)

Systematic evaluation of value chain, to reduce costs and high quality to achieve satisfied customers is known as value engineering. Value engineering is a systematic and organized approach to providing the necessary functions in a project at the lowest cost. Value engineering promotes the substitution of materials and methods with less expensive alternatives, without sacrificing functionality.