When elements of utility can be quantified in monetary units, we call them elements of worth so that they can be related to their corresponding elements of cost. Function worth, by definition is the least cost to provide a given function.
What is the worth of the function ? For example, what is it worth to "transmit current", "illuminate area", and "control flow" etc. Worth can be determined by mathematical calculations. For example, the worth to "transmit current", can be calculated. If amount of current is known, and the distance to be transmitted is also known, then that cost can be calculated. But this technique requires considerable calculations. Therefore. the worth is determined by another way.
The worth of a function is usually determined by comparing the present design for performing the function with other methods of performing essentially the same function. Thus, the rule is, determine the cost of functional equivalent based upon the way it was accomplished previously. To aid in determining worth, one might ask the following series of questions :
- What is the must of achieving the basic function as the item is presently designed ?
- Do you think the performance of the basic function should cost that much ?
- If no, what do you consider, would it be a reasonable amount to pay tor the performance of the function (assuming, for the moment that the function is actually required) if you were to pay for it out of your own pocket ?
- What is cost of achieving this function, if some other known item is wed ?
- Is this a common, easily accomplished function or one that is rare and difficult to achieve ?
- What is the price of some items that will almost but not quite. perform the function ?
Finally, in determining worth, the key rule to be remembered is that worth is associated with necessary function of the item and not with the present design of the win or system.
No comments:
Post a Comment