Value engineering is a systematic and organized procedural decision-making process, which is designed to ensure the maximum value for the client or the end consumer. At a time when success in business is critically dependent on the value attached to a product, this concept provides any enterprise with a result-driven framework for delivering better products and services at the lowest possible cost.This book is a comprehensive and in-depth exposition of the basic concepts, techniques and applications of value engineering. Simple and jargon-free, it is divided into three parts. The first part:- Deals with the basic conceptual framework of value engineering and its key parameters. The author highlights its relevance in the Indian scenario. The second part: - Examines both general and special techniques specifically developed and applied to value engineering. The final part: - Critically discusses the application of the techniques discussed in the second part; and - Is peppered with short cases. The discussion is peppered with short cases and the book itself is copiously illustrated to give the reader a holistic understanding of the concepts.