Final answer:
The purpose of value analysis/value engineering is to reduce unnecessary features from a product, aiming to decrease costs while maintaining or improving its functionality and performance. d) Reduce unnecessary features is correct answer.
Step-by-step explanation:
The purpose of value analysis/value engineering is to reduce unnecessary features. This process is part of a larger decision making framework that involves performing cost/benefit analysis.
By comparing marginal costs against marginal benefits, businesses aim to eliminate or modify features that do not add significant value to a product, thereby reducing cost and often improving the functionality and performance of the product.
Through value analysis, the efficiency of a product can be increased by streamlining its features and focusing on those that are most essential to the product's performance and consumer demand.
Value engineering is especially important during the design process, as it helps in evaluating various attributes of the product and the quality of its design. Mathematical models are used to estimate costs and benefits of different design approaches, and prototypes are often tested to ensure quality.