VALUES

ENGINEERING
VALUE ENGINEERING
• is a systematic method to improve the
“value” of a product or service that the 
project produces.
• It is an integral component of project quality.
• .  Value is defined as containing two
components, function and cost:
• Value = Function / Cost
Function 
• a measure of the the performance capabilities
of the product, service, or project.
Cost
•  Theresources required to achieve the function.
This can include materials, tools, price, time, or
anything that is required to achieve the
functional specifications.
• There are two types of functions:

• Primary functions 
• cannot be compromised. A bridge’s primary
function is carry traffic across a river.

• Secondary functions 
• are optional and provide convenience or
dependability to the user. A bridge’s secondary
function might be aesthetics.
THERE ARE THREE DIFFERENT STAGES OF VALUE
ENGINEERING

• PLANNING
• During the planning stage of development, value
engineering can have multiple benefits.

• At this time a team can conduct a functional analysis

of the facility, define key objectives, review utility
options, offer alternative solutions, and verify if the
budget is adequate for the project plan.
• DESIGN
• Most value engineers get involved during the
design phase of a project. For some projects,
value engineers conduct a workshop to bring
the design team and client together to discuss
the proposed design, cost estimate, schedule,
and ways to get the best value for the money
spent. The definition of “best value” is unique
to each project and client.