Application of Value Engineering in Residential Building

Abstract

Value engineering (VE) is a systematic method to improve the "value" of goods or products and services by using an examination of function. The current economic conditions have entailed the use of rational method and techniques and research and application of new techniques by utilizing advancements in technology in the field of production as well as in every field. Excess cost control requires to be maintained throughout the project life of building beginning from the initial stages of design. Scrutinizing the project well and considering all possible alternatives particularly in design stage are important for achieving optimum cost. In this study, how the principles of VE are applied in construction projects are going to explain, and by covering construction of a structural building as the sample project, practices of VE in this project are planned to describe. The satisfactory results of time and cost saving are planned to achieve by applying value engineering principles through the VE project preparation phase and project revision phase, using FAST diagram.