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.

Aggregation and Coalition Formation on Value-based Decision

Abstract: Value-based decision is very complicated since many parties involved. Where a number of stakeholders are involved in choosing a single alternative from a set of solution alternatives, there are different concern caused by differing preferences, experiences, and background. Therefore, a negotiation is required to enable each stakeholder to evaluate and rank the solution alternatives before engaging into negotiation with the other stakeholders. Decision techniques applied to determine the relative value of the alternative solutions for performing the function. The results demonstrate a comparison of aggregation and coalition formation in a multi criteria group decision and negotiation. It further emphasizes the importance of performance evaluation in the design process and value-based decision.

Value Engineering for Roadway Expansion Project over Deep Thick Soft Soils

Abstract: A roadway expansion that takes place on soft ground is susceptible to differential settlement because of the high consolidation of soft soils. Therefore, steps must be taken to lessen the risk of such settlement; yet, this often only results in costly drainage solutions. In that, applying a systematic value engineering (VE) process can be beneficial to develop cost-effective design alternatives. However, VE studies specifically targeting for this problem are absent from the field. Thus, the goal of this study is to supplement this knowledge gap by applying a systematic VE process to an expansion project on soft ground to demonstrate the benefits of performing VE. A case study was performed on an expansion project over a soft soil layer approximately 50 m thick. Through the VE process, the original design was reviewed, problems were discussed, and three alternatives were proposed. Then value analysis techniques were applied to evaluate these alternatives in terms of cost saving, function improvemen...

Case Study on BIM and Value Engineering Integration for Construction Cost Control

Abstract: Construction projects consume a considerable amount of resources and funding Cost control is an essential process to attain project success and enhance its value Many studies have been dedicated to studying how value engineering (VE) can be used to control construction costs However, limited studies can be found on the integration of building information modelling (BIM) and VE for better cost control and optimization The main purpose of this study is to determine how BIM can be integrated with VE and illustrate the benefits of this integration The study proposed a framework based on the analytic hierarchy process (AHP) and the entropy method to calculate the weight and coefficient A case study method of a high-rise building project in China was used to validate the framework and demonstrate how BIM can be integrated with VE The data were collected through document analysis, interviews, and a questionnaire survey targeted on project participants The findings show that the integration of BIM in VE facilitates design modification and information extraction such as cost data Using this approach showed a saving of 10% in project cost and duration Besides, the overall quality and performance of the project have been enhanced The findings show the significance of integrating BIM and VE to enhance building project functionality and performance before, during, and after the construction stage This study contributes to providing empirical evidence of the advantages of this integrated approach including a better understanding of project components and requirements, easy access to project data, comprehensive weight and function analysis, easy validation of recommended solutions, and ability to virtually evaluate design changes and construction site planning

Developing a Capability Function Relating Aircraft Systems Cost Overruns to Aircraft Design Parameters

Abstract: Cost overruns and delays are threatening the economic stability of aerospace programs. In order for programs to be successful overruns in cost and time must be eradicated or managed effectively through realistic Life Cycle Costing methodologies. Being aware of their impact at the earliest stage of development ensures that realistic budgets can be assigned and potential problems can be identified and planned for before they major issues. Using Life Cycle Costing methodologies, the basis of a new capability function aimed at accounting for cost overruns and delays upfront within life cycle management procedures will be introduced. Using gathered data, the main drivers of cost and delay will be identified and their effect on Life Cycle Cost assessed before being included within the new function which aims to achieve the highest economically valuable aircraft and program through the application of value engineering principles.

Cost Reduction Techniques on MEP Projects

Abstract: For a construction project main objective is to complete the work on time and achieve the desired profit by giving the required quality to the customer. To complete the work on time, planning and scheduling have the key roles. Reducing the cost of project is done by a continuous process, the cost-dependent factors should be identified and various methods should be implemented to get the cost reduced. In this paper construction, cost reduction methods are analysed and the implementation of such methods in MEP (Mechanical electrical pluming) projects are discussed. Construction work and MEP work will be tedious and losses due to improper planning of project, early allocation of materials, unskilled labours and shortage, price fluctuation of materials, delay in supply of materials, rework and wastage of materials, wrong budgeting, weather deflections, unorganised management and control, coordination problems of service and civil works, etc. All these obstructions will result in delay of projects and cost overrun. Time and cost optimisation can be done by various techniques which is major for a project for its successful completion. This paper reviewed best cost optimisation methods and summarise the suitable method for Indian construction industry. This study mainly discussed on different techniques to reduce the cost in MEP projects and difficulty facing to implement this techniques and its betterment of execution.