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.

"Value Engineering...?" During Construction

Abstract: Construction contracts in the USA frequently contain a clause on "Value Engineering" which allows contractor-initiated design changes. Misleading is the interpretation of value engineering to imply cost savings shared with the owner, and its implementation, just before or during actual construction, is problematic. It is not surprising that such a clause would simply be ignored because it involves changes in design, often major changes in very short time; and change is feared, and moreover, vehemently resisted by all parties: owner, designer, and contractor. Major design changes were nevertheless successfully implemented in record speed on several very large projects in the metropolitan New York area. Four case histories spanning from 1998 to 2002 are presented in this paper. They include two Design/Build prjects: the redesign of large diameter drilled shafts for the Hudson-Bergen Light Rail Transit System; and the elimination of deep caissons in favor of spread footings for a new $90 million MTA bus depot in Manhattan. The other two case histories are conventional Design/Bid/Build projects: maintaining in lieu of removal of a 100-year old abutment of the $72 million Queens Boulevard Bridge Replacement; and the complete redesign of major retaining walls and actual use of the "Giken" tubular pressed-in pipe piles as very high cantilever retaining walls, for the $150 million expansion of the Long Island Expressway. The author describes how the changes in each case were unconventional, painful, and even comical at times.

Experiences of risk enhanced value assessment in a software company

Abstract: During the last years Value Engineering has become a usable method for assessing, developing and improving high value products. It has also been used as a basis for assessing and improving value in software processes. In complex and highly competed markets information of assessed and planned value might not always be enough, because development of high value products contains also several risks. These risks can have a significant effect for the value and to the profitability of the company in question. Therefore it is highly recommended that a company interested in of value would also consider the risks related to it. This research combines Value Engineering and risk management practices into a usable new method in order to better respond to the challenges that risks might cause to the value of software companies and their product development. This is done in part by defining the concepts of value, worth and cost and in part by defining the Value Engineering process with needed risk management practices. The practical industrial case shows that proposed two-dimensional method works in practice and is useful to the assessed company.

A trial on comprehensive value judgment of industrial product

Abstract: The author proposes to evaluate values of industrial products comprehensively by life cycle value (LCV). LCV consists of the market value of the traditional meaning, "global value" to be given to the efforts to reduce environmental loads, and "social value" to be given to the social incentives to the environmental efforts. The author describes the three values in product specifications with the same weight on each value and presents them to customers as criteria of their selection. As for the product designs, the author proposes to exercise life cycle value engineering (LCVE), broadening value engineering (VE). LCVE intends to achieve the improvement of the "global value" of the product as well as the cost reduction of each unit function.

The Measurement of Human Resource Based on Value Engineering

Abstract: Based on value engineering, the cost and function of human resource are analyzed in this paper. Then, the paper puts forward the measurement model of human resource integrating costs and corresponding function, i.e. comparing the cost with the discounted return of corporation and the weight of particular kinds of human resource in a specific year. In addition, several approaches to the enhancement of the efficiency of H&R investment are discussed.

Cost Management Method with Value Engineering

Abstract: The use of value engineering in China has grown significantly in the last twenty years. With keen competition in construction market, the cost control is the key measure to increase the economic benefits in the company and enhance the core competency of enterprises. This paper makes a holistic appraisal of value engineering as used in Chinese construction industry by investigating current theory and practice. It evaluates value engineering projects. This research suggests a methodology for the cost control process in construction enterprise, aiming at the correct systematic approach of Value Engineering and target-costing in cost management. The value engineering and target-costing are complementary processes. This proposed approach was validated in a case study, aiming at improved product cost, functionality and quality accomplishment, in accordance with customer needs and the company strategy.