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The award and trophy will be presented to an organization which demonstrates that it has realised the importance of
Value Engineering,Value Management (VE / VM) as an organised corporate activity and in the opinion of INVEST, has
excelled in successfully deploying this technique to improve the total value of its operations and has also ecourage the
dissemination of VE / VM methodology at all levels within the organisation during the past year.
Vasant Rao Rolling trophy will be presented to an organisation which is adjudged as next based on the above criteria.
An organisation wining the award/trophy once, becomes eligible for the same award only after three years of winning the
previous one.
Competition for the above award is open to any organisation (public / private) located in India, including Government
Departments. A Group of organisation cannot enter collectively but only as a unit by itself.
Contestants shall apply information as required in enclosed questionnaire.
Award Requirements
- Contestants shall supply information for the Handa Golden Key Rolling Troohy, as required in the enclosed questionnaire.
- The validity of the information submitted by the contestant shall be attested by the Chief Executive of the organisation or his accredited representative.
- The contestants should make available to INVEST, or it's nominee ,proof in support of the claims made for both awards.
- The award entry forms shall be received by the Indian Value Engineering Society ,in quadraplicate (4 copies) ,in a sealed envelope, marked "Entry for National Awards", to the Secretary,INVEST - EZC.
- The trophies shall be the property of Indian Value Engineering Society and shall be returned to INVEST one month before the commencement of the next annual conference on receipt of communication.
- The Winner will be notified in advance of the Annual Conference of the Indian Value Engineering Society .
Award Presentation
The organisation which wins this award and trophy will be requested to send a senior executive to the Society's Golden
Key Award function to receive the award and trophy.
Questionnaire for "Golden Key Award / Handa Golden Rolling Trophy" and "Vasant Rao Rolling Trophy"
(Entrants are required to answer the following questions and attach supporting evidence where required. Answers should
be neatly typed on separate sheets attested by the chief executives or the designated person. The entries, including
answers to the questionnaire should be submitted in four copies.)
Particulars of Entrants
- Name and address of the organisation
- Activities of the Organisation
- Total number of employees
- Name, designation and address of two persons in the entrant organisation who may be contacted in connection with this award.
Questionnaire
- Is your organization a corporate member of INVEST.
- Is VE an organized activity in your orgaization ?If yes please indicate :-
- When was it instituted?
- How many persons have received formal VE training?
- How was the training imparted?
- Duration of the training
- If there is a VE team in your organization briefly describne its structure and duties.
- In what ares or departments has VE successfully been used in your organization?
- What is the designation of the person under whose direct charge the VE activity is placed?To wohm does the person in charge of VE report?
- If you are practising VE within your organization, but not as a ysstematic effort, describe how this work is undertaken, by wohm and in which areas.
- Is VE separately budgeted?If so please describe your sustem.
- What benefits has your organization derived from VE, both Qualitative and Quantitative.
- Describe the VE methodology being followed highlighting the following
- Job plan
- Functional Analysis
- Cost / Worth evaluation, etc.
- The case study may be included as an illustration.
- How you help promote value awareness in your organization :
- VE seminars (give frequency and duration),
- VE newsletter (attach sample copy),
- VE exihibtions (indicates when last held),
- VE rewards to employees(briefly give details)
- Any other way that you have initiated to promote value awareness in the company.
- Will any of your employees will be participating in the fortcoming INVEST National Conference?
- How do you ensure that the systematic application of VE is meeting its objectives and the change is effectively
implemented?
(Attach copies of VE workbooks, VCEP implementation check sheets,etc.),
- How do you ensure that th eproposals are effectively and speedily implemented, and what measures have you taken
to ascertain that such changes have been successful and accepted by the client?
- What environments or other constraints have you experienced which inhibit your Value engineering effort and what are the steps taken or proposed to be taken to overcome the same?
- Do you have a VE incentive clause with your suppliers? if yes attach a copy of sample contract clause.
- Has the use of VE helped in making any changes in your product or service, which were desired by your customer? (Please give brief details).
- How do you ensure that the benefits are shared equally by the manufacturer, middleman and the user?
- If imported component / raw material is an essential item, please give particulars of efforts made to substitute and / or indegenise during the last two years.
- What project have your VE team undertaken (summarise under different categories)
- Is there a suggestion system in your organization? If so how is it linked to the VE process?
- Attach one example of VE change successfully implemented in your organization :
- Give only those details which clearly show the change and benefits.
- Fiscal benefits achieved.
- To what extent creativity and originality are used?
- What was the value added?
- How are the VE projects selected in your organization and how does the management ensure that these are in consonence with the organization's objectives?
- What , in your opinion should be a satisfactory rate of benefits resulting from the time and money spent on this activity? How do you quantify these benefit in you organization? What has been the rate of return in your organisation?
- Describe, in about 300 words "What in your organization are the management's expectations of VE and how this activity is planned to fulfil these goals"
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Signature and designation of
Chief Executive / designated person
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The medal will be awarded to a member who has delivered highest nuber of lectures / sessions, but not less than 6, in
public forum on Value Engineering during a period of one year.The spirit behind the award is to encourage members to
spread Value Engineering message widely and effectively.The details of the award are as under :
- The award will comprise a medal and a certificate and it will be given at the time of conference.
- Application should be member of INVEST not having any outstanding dues of subsscription.
- The interested members should send that application to the respective Zonal Councils giving full details of lectures along with adequate proof of having conducted the same.The proof can be in the form of a letter from the organisers of the event.
For this purpose, the year will be considered as commencing from 1st April of the previous year upto 31st march of the year of the award.( eg. for 2000 award , the year will be 1st April 1999 to 31st March 2000)
- The lectures / sessions taken by professionals in the course of their business activity for monetary benefits will not be considered.The lecturses / sessions taken by employees before their own company's captive audience will not be considered.
- A member awarded once will be considered for award only afetr three years.
- The awardee will be decided by a panel of experts duty constituted by National Council for this purpose.If in a year no application is found suitable, the medals will not be awarded.The decision of the panel will be final and bindign on all concerned.
- The authority to add , delete, amend and ineterpret the rules governing the award rests fully with the National Council.
The medal will be awarded for the year 2000 during the National Conference to be held in Calcutta.
Last date for receipt of enteries :1st August 2000
The Mohta prize, for the best value engineering effort will be awarded to the leader of the value engineering team, which,
in the assesment of the udges has submitted the best value engineering project report which was implemented during the
immediate on eprior to the Conference date.The entry should be sent by the team leader, certified by a senoir executive
of the company (preferably by a Director or General Manager of the Co.)
A cash reward of Rs. 2000/- and a merit certificate will be given to the team.
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Cash in on VE 