Cost Value Engineering QSB 4215

This subject provides the history, background, theories, concepts and principles of value engineering or value management in decision making process. This subject also introduce the idea of unnecessary cost and cost cutting exercise in the cost planning and control stage. It is then generally covers area of implementation of value engineering and the key person involved who is the facilitator. This subject concludes with a series of discussion on the problem and constraint in the implementation stage based on some significant case studies.

I am now able to identify the appropriate time to carry out Value Engineering throughout different construction phases, recognise and recall the contribution of the value engineering or value management in the development process. Other than that, I am now also able to apply the value management to a value outcome in the decision making process and to analyse the cost and value implications of project scope and to generate a Job Plan for the implementation of Value Management Workshop.