Introduction to VE

• Value Engineering is a set of disciplined procedures designed to seek optimum value for both initial and long-term investment 
• First utilized in the manufacturing industry during World War 11, it has been widely used 

Application of VE 

- Togernment project include b

* Establishing and verifying project objective analysing project briefs 

* Optimising design solutions 

* Resolving conflicts and improving 

* Creating and analysing a range of options for executive consideration 

Key Characteristics 

• Value Management has the following key characteristics 
• A specific methodology 
• Based upon a creative problem solving approach 
• Involves key stakeholders in a managed team approach 
• Focuses on function ie. what is must do, not what it is 
• Focuses on achieving value-added solutions 
• Based upon on integration 

-Value Engineering can be defined as an organized approach to providing the necessary functions at the lowest cost 

- From the beginning the concept of value engineering was seen to be cost validation exercise, which did not effect the quality of the product. 

- can be degfined as organized approach to the identification and elimination of unnecessary cost 

- Unneccessary cost is cost which provides netiehr use, nor life, nor quality, nor apperance, nor customer features. 

- Value Engineering is not a design or cost-cutting exercise 

- VE is a creative, roganized effort, which analyzed the requirements of a project for the purpose of achieving the essential functions at the lowest total costs ( capital, staffing, energy, maintenance ) over the life of the project. 

- Through a group investigation, using experienced, multi-disciplinary teams, value and economy are improved through the study of alternate design concepts, materials, and methods without compromising the functional and value objectives of the client. 

- Value Engineering is concerned with the achievement of necessary functions at minimum cost without detriment to quality, realitbility, performance or delivery. 

- VE is a tight, technical discipline with a very clear focus on cost. Dr Stuart Green says that that the two assumptions are : 

* Function is an objective characteristic 

* All solution have the same level of functional performance and can be compared in terms of cost.