A Study on Application of Value Engineering in Residential Building Projects

M Ravish; K Vinoth

M Ravish M.E (CEM), Department of Civil Engineering, Mahendra Institute of Engineering and Technology, India
K Vinoth Assistant Professor, Department of Civil Engineering, Mahendra Institute of Engineering and Technology, India

Keywords: life cycle, development, employment, VE, goal, product

Abstract

Value engineering is a combination of technical and economic subjects. It is committed with the lowest life cycle cost and reliable completion of the functions required by the user. Value engineering is essentially a process which uses function analysis, team-work and creativity to improve value. Value Engineering can be applied during any stage of a project’s design development cycle. It has an important influence and function to promote the traditional product value innovation, cultivate and develop the enterprise's core competitiveness, and promote national economic and social sustainable development. This project analyzes the current situation of construction project management and problems based on an overview of relevant theory of value engineering and construction project management. It Points out the importance of value engineering. Finally analyzes the application of value engineering to construction projects in various stages of the life cycle.