Application of Value Engineering in Construction Project

The aim of this research is to develop a Value Engineering methodology (VE) that leads to reduce cost and/or improve performance of housing projects for low income people in an applicable way that local professionals can understand and apply. To achieve the aim, the researcher developed models to serve application of the methodology and applied the methodology on a case study for further clarification of the methodology. The thesis discussed the concept of Value Engineering, its job plan and the analytically effective implementation of Value engineering concept through a different Study and its efforts have been put into the government construction project site. The material is chosen such that the cost is reduced without affecting the quality of the product and environment (Environment friendly materials). The best feasible solution from the available alternatives is chosen through the cost model and materials ranking. Through the application of Value Engineering profits are maximized without hindering the reliability of the product. With the effective utilization of the technique the final outcomes comes out to be a successful showcase of value engineering.

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