Value Engineering Techniques and its Application in Construction Projects

Abstract

Value Engineering (VE) is an efficient management technology that can significantly contribute to value rise and decrease in building projects. In addition to that EV is an accepted way of recognizing and removing excessive product construction, inspection, manufacture and design, operation, repairs. The technique comprises three main stages. The first step of the study on VE is designed to schedule and organize the study of significance. Value Engineering routinely employs well-known techniques that classify the functions of the innovative product or service and thus operate at the lowest average cost of performance. Value engineering relies on the lowest marginal feature efficiency. It enables waste, time, and unnecessary expenses to be eliminated or minimized that increases customer loyalty. The second step consists of several phases: knowledge phase, research purposes phase, innovative phase, assessment phase, and initial phase. The principal components of value engineering study are value analysis. Value analysis. The two steps and actions function sequentially. This series of approaches to the VE research goals will lead to a logical and organized process flow. The third step is postal analysis. It seeks to ensure that the acceptance criteria are applied to change the research of significance in the course of study operations. The second process consists of five phases: information phase, purpose analysis phase, creative phase, evaluation phase, and introduction phase. Value analysis is the main component of Value Engineering Research. Sequentially both stages and measures work. The rational and structured process flow is anticipated to help with this sequence of the approach to reach the VE research goals. The postal study is the third phase. It is intended to ensure the execution of the agreed guidelines to modify the important study during study operations. In the study, the values engineering principles are applied and value engineering practices in this project are defined by the study of the constructor project.