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.

The functional administrative control technique the application of value engineering to organization development

Abstract: This paper outlines a highly quantita­ tive technique designed to optimize group processes through the application of Value Engineering and participative management.

Marketing strategies in the product life cycle

Abstract: Objective: Nowadays, with the acceleration of competition in the field of production and consumption, most successful companies place their resources and competitive power in the marketing circuit, or in a more complete sense, at a commercial level. Methodology: It is clear that the way of life and the continuity of organizations goes through the marketing brush, and in this complex and obscure environment that ever grows strong and innovative rivals, having a marketing strategy becomes irrelevant and necessary. Results: This article is a glimpse into product marketing strategies in its life-stages, which organizations need to find their own position in each product, to consolidate their marketing strategy to effectively combine these strategies in order to maintain their survival in the dynamic environment around them. Conclusion: It is believed that there is always a better and more effective way of doing things. The purpose of engineering is to find this way. Value engineering is an organized method and consists of various techniques. Some techniques are old, some are modified and some are new. The engineering value of the return value is the highest value for money (cost) spent.

Implementing value engineering for structural works during the design phase for a residential project

Abstract: To cut costs without sacrificing quality or performance, value engineering has been found to be a good way to do it. Value engineering is used a lot in construction projects as a way to make decisions about what to do. Value engineering has a lot of benefits and can be used in a lot of different ways, which is why more and more businesses are including the idea of value engineering in their projects. It is well accepted that value engineering should be undertaken early in the life of a project (feasibility and planning phases) in order to maximize the benefits. Some projects fail to address the notion of value engineering and, as a result, subsequently seek to achieve the project specifications in terms of cost and time but fail to do so. The purpose of this work is to shed light on how to incorporate value engineering into the structural component/item of work of a building construction project by examining a case study of an ongoing building construction project in Kolkata during the design phase and evaluating the cost savings that can be realized by substituting alternative items or components without sacrificing quality or performance. KEYWORDS: Value engineering; Construction Project; Design Phase; Structural work; Pareto Law; Cost to worth ratio; Time and cost.

An Overview of The Significance and Application of Constructability in Value Engineering

Abstract: Value Engineering (VE) and constructability are not distinct; instead, they are complementary work processes that may be used as vital elements in achieving total quality. Constructability is a value management (VM) tool developed as an attempt to integrate design and construction activities. VE is often implemented when there is a limited chance to influence the cost and time of the project effectively. Thus, project contractors and owners conduct VE analysis before construction by applying the constructability process. The activities of these two processes somehow complement each other in achieving their goals. Considering the output of existing VE approaches, it seems that despite the significance of constructability, it does not have an appropriate significance in VE projects. This study aims to evaluate the importance of constructability in VE and provide some suggestions for facilitating and improving it with VE. A type of systematic review in the related literature and conducted pattern coding called overview was utilized to obtain the study's aim. The research found that a large part of the proposed VE solutions that cover the principles and concepts of constructability focused on the pre-study and the main study phases of VE and the management subgroup. Significant areas related to the supplementary studies phase or environmental solutions, including cultural and legal issues, have been neglected. Therefore, addressing them provides an appropriate context to improve constructability by using the VE process.

The Cost of Capital for Road Concession Projects in Colombia: A Case Study Based on the Fourth Generation Concession Program (4G)

Abstract: This paper develops a methodology to calculate the appropriate discount rate for road concession projects under the public private partnership (PPP) model in Colombia. This methodology is applied to the government’s fourth generation concession program (4G) as a case study. The paper includes an analysis and description of the infrastructure sector in Colombia and explains an ambitious program for road development called 4G, which involves investments for more than United States (US) $20 billion in the next decade. Then, the discount rate is estimated using different scenarios and an expected value of the variable is constructed from a range with a confidence level of 95%. A theoretical and empirical analysis is performed in order to validate the appropriate discount rate according to industry standards. This value will be supported by different analysis and various experiments conducted throughout the paper. Finally, it is possible to compare this discount rate with the yield the government is currently offering to the investors, and the result will suggest that the government is underestimating the risks associated to the projects.