Value engineering is a systematic structured and analytical method to reduce the Value of the project/item by providing all necessary functions at the lowest cost, ensuring with required levels of quality, reliability and performance of a product/service/items of a project. Value engineering is a combination of technical and economic management technique which leads to improves the function and reduce the cost. Major reasons for choosing Value Engineering are to achieve cost saving, make a clear project objective and provide creative thinking for design improvement as Innovations. The crucial cause of concern in Value engineering process are as follows Time saving Cost reduction. Innovations, Benefits & Efficiency Quality & Reliability In the complete life cycle of the project, the value engineering shall be a formal activity which can propose by the Contractor or Consultants in the important variations or to avoid difficulties in execut...
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