This module implemented value engineering concept into the construction projects. Under this module, we studied the history, background, theories, concepts and principles of value engineering/value management in decision making process. With all these fundamental ideas, this module tends to help in cost planning and control stage by identifying the unnecessary cost and cost reduction exercise. In order to give further comprehensive idea on this module, it concluded with a series of discussion on the problem and constraint in the implementation stage based on more significant case studies.
Coursework:
Students are divided into a group of 9 to 10 to complete the task given. We are required to identify the value management that had been implemented to an existing projects. In the function analysis, we had adopted compound approach to achieve both cost reduction and function increase of the project. This assignment helped me to develop a deeper appreciation on the concepts through this assignment by applying them into the associated problems. I had also learnt that value management isn't about cost reduction but also the optimize the function of the project. Hence, the concept of Value Management must be clearly understand and realized in order to achieve an effective and efficient delivery of value in terms of design.
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