Value engineering

About: Value engineering is a research topic. Over the lifetime, 1231 publications have been published within this topic receiving 10882 citations. The topic is also known as: VE.

Analysis of project cost control in construction project based on the law of value analysis

Abstract: With the development of society, the internal situation of construction project has change a lot. The separation of technology and economy is becoming more and more obvious, which makes it difficult to control the project cost reasonably and effectively, resulting in the phenomenon of out of control. So, at present, the control of project cost is an important problem in construction project management. The theory of value engineering is a modern management technology produces along with the demand of society and it is an economic analysis method. The introduction of the value engineering theory into project can make the use of resources reasonably to achieve the maximum value. The value engineering theory introduced in the design stage of construction project can control the project cost and ensure the optimization of construction investment and resource utilization. This study introduces the basic theory of project cost management and value engineering and it analyzes the development situation of engineering project cost management at home and abroad as well as the research status of the application of value engineering in the design phase. For the problem that the investment to the construction project is out of control in China, the paper carries out the analysis of project cost controlled by construction project based on the value engineering. It compares the foundation engineering of a construction project to research on the value coefficient of the original foundation engineering scheme and the engineering scheme optimized by the value engineering. The result shows that the value coefficient of the engineering scheme optimized by the value engineering is much larger than the original scheme which illustrates that the optimized scheme realizes the same function with the original scheme with less project cost and improve the economic benefits of enterprises better than before.

Evaluation of Cost Management Controlling System in Petroleum Enterprise

Abstract: In this paper , for the implementation and supervision of the strategic management, we proposed a model that will evaluate cost management controlling system under various market scenarios in petroleum enterprises. The outlined model classified cost controlling methods into five grades In the different strategy. These methods includes origin man- agement, activity improvement, activity chain optimization, value engineering, cost variance analysis, budget manage- ment, performance evaluation system and incentive mechanism, quality cost management, funds operation and human capital operation. The model assigned a value to each grade by expert scoring method, and calculated the score of cost management controlling system by formulas. It is the conclusion that if the score > 0, cost management controlling system made positive contribution to strategy; If the score < 0, negative contribution to strategy. The use and benefits of the pro- posed model are illustrated on a case of The Fourth Oil Extraction Plant of Daqing Oilfield Company Limited..

The revolution of logistics.

Abstract: A review of developments in logistics support over the past decade is presented The concepts of systems engineering, the “system approach,” and the need for system effectiveness in military weapons has created a revolution in the traditional concepts of engineering and logistics One major problem has been the introduction into the traditional aerospace organizational division, of engineering and logistics of several new disciplines (eg, reliability, maintainability, personnel subsystem, value engineering, and so forth) Owing in large part to recent Department of Defense specifications, the traditional definitions and concepts of logistics must be changed

The Professional CM Team Discovers Value Engineering

Abstract: This paper reviews and summarizes the state-of-the-art of traditional value analysis and value engineering methods as developed and utilized by a number of practitioners and agencies on public works. While significant savings have been achieved in the public sector, the value engineering concept has achieved less widespread acceptance in the private domain. The three-party Professional Construction Management concept has facilitated the development of a simplified program based upon the elimination of adversary relationships often present in the private sector along with the utilization of the original designer to analyze the technical acceptability of proposed Value Engineering savings. The simplified approach has produced significant savings on a number of projects and offers promise for increased utilization on design-construct and turnkey projects as well.