VALUE ENGINEERING IN CONSTRUCTION MANAGEMENT: A REVIEW

Abstract

Value engineering (VE) is an intensive, inter-disciplinary problem solving activity that focus on improving the
value of the function that is required to accomplish the goal or objective of any product, service or organization. Value
engineering methodology is used to analyze the function of the goods and services and to obtain the required function of the
user at the total cost without reducing the necessary quality of performance. In Construction Management field, value
engineering is an effective tool for fostering the construction quality with an aim to lower costs and improve services. Value
engineering study is carried out with the analysis of basic functions of the project and based on that analysis unwanted
elements in the project are scrutinized and eliminated. In this paper, a review on value engineering and its application in
construction management/project has been done and value-engineering theory, practices and techniques has been discussed.