Value engineering is a systematic approach aimed at achieving the desired functions of a product, a process, a system, or a service at minimum overall cost without affecting the quality, reliability, performance and safety. It is neither a glorified suggestion program nor a means of cheapening an item, process, or procedure. It does, however, seek to eliminate unnecessary costs. VE is not about selecting the cheapest option; instead, it is about realizing the best value for money, improving the productivity, competitiveness, and effectiveness of organizations, and stimulating innovation.
This course is designed to provide the participants with expert guidance for securing real benefits and cost savings by implementing VE in their projects with a greater emphasis on the development of project scope, cost estimates, design solutions, and budgets.
