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.

What Is Value Engineering

Abstract: Reply to Bill Dean, re: draft of a script for a (audio-visual) video cassette introducing the concept of VE. Script attached. Letter clarifies role of military in change of terminology from value analysis to value engineering.

Project Performance Evaluation Based on Statistical Process Control Techniques

Abstract: The earned value management (EVM) method is considered as a powerful tool that supports the management of project scope, time, and cost. However, conventional EVM may cause some project managers to ignore the information that it can provide about the performance variations of their projects as well as their causes and effects. This paper attempts to refine and improve the performance of traditional EVM by the introduction of statistical control chart techniques. Individual control charts are used as tools to monitor project performance data so that adverse changes can be detected in a timely manner. This allows analysis of in-progress project cost and schedule performance variations and highlights possible needs for corrective action. A comparative analysis between traditional EVM and the new approach is undertaken to identify the effectiveness of the new approach.

Integrating Value Analysis and Quality Function Deployment for Evaluating Design Alternatives

Abstract: This paper presents a hybrid framework that integrates value analysis and decision making for eliciting and evaluating design alternatives. Value analysis approach relies on the integration of the functional analysis through the systematic use of the functional analysis system technique and quality function deployment. This value analysis methodology enables customer requirements to be linked to specific design alternatives during the project design stage. The degree of project complexity will affect the number of design alternatives to be evaluated. As such, the data envelopment analysis (DEA) is incorporated as a decision support tool to evaluate the degree to which each design alternative satisfies the customer requirements. DEA is used to calculate a customer requirement efficiency index for each alternative. This index is a measure of how well a particular alternative achieves the requirements taking into account its overall cost. The framework was successfully used on a high-tech research facility construction project.

Value-based distribution system reliability planning

Abstract: Society is becoming increasingly dependent on a cost-effective reliable electric power supply. Unreliable electric power supplies can be extremely costly to electric utilities and their customers. Predictive reliability assessment combines historical outage data and mathematical models to estimate the performance of specific network and system configurations [e.g., IEEE Std. 493-1990]. This paper is concerned with the value-based assessment of proposed modifications to an existing industrial distribution system configuration to minimize the costs of interruptions to both the utility and its industrial customers. This paper presents a series of case studies of an actual industrial load area supplied by two feeder circuits originating from two alternate substations. Each case study reveals the impact on the cost of industrial load point interruptions and the frequency and duration of industrial load point interruptions when various system constraints (e.g., ideal and nonideal protection coordination schemes, substation capacity restrictions, etc.) are imposed on the distribution system. The paper discusses in some detail the variance in reliability performance indexes and their impact on the cost of load point interruptions. A basic conclusion of this paper is that expansion plans of an industrial distribution system can be optimized in terms of reliability by using an economic criterion in which the sum of both the industrial facility interruptions and the utility system costs are minimized.

Rethinking the Cost Estimating Process through 5D BIM: A Case Study

Abstract: This paper presents a comparative study of commercially available BIMbased estimating software, and an investigation of the changes in work practices and workflows incurred by the adoption of such software by a construction company. Due to the fragmentation of the construction industry and the linearity of the design process, cost estimating is typically performed at a time when the conceptual design is quite advanced or even completed, which is much too late in the design process to help the different stakeholders make informed decisions. Performing value engineering and cost estimation from the beginning of the design process would potentially enable a faster and more cost-effective project delivery process, higher quality buildings, and increased control and predictability for the owner. This research examines the changes in work practices and work flows within a construction company as they move towards adopting Building information Model (BIM) estimating process. To conduct this research, we: (1) tested several BIMbased cost estimating software tools to support different phases of design, (2) evaluated the benefits and challenges of working with this software, and (3) analyzed the work practices and workflows of a BIM-based estimating process within the firm. Finally, we propose a multi-stage technology adoption scenario. BACKGROUND Due to the fragmentation of the construction industry and the linearity of the design process, cost estimating is typically performed at a time when the conceptual design is quite advanced or even completed, which is much too late in the design process to help the different stakeholders make informed decisions. Oftentimes, this cost feedback highlights potential budget concerns and a cost engineering process will be performed to reduce construction costs, often at the expense of building performance and construction quality. Performing value engineering and cost estimating from the beginning of the design process would potentially enable a faster