Cost Value Engineering (QSB 4215)

This module introduce  the history, background, theories, concepts and principles of value engineering / value management in decision making process. The module also give an idea of unnecessary cost and cost cutting exercise in the cost planning and control stage. The module concludes with a series of discussion on the problem and constraint in the implementation stage based on some significant case studies.

Upon successful completion of this module, I able to identify the appropriate time to carry out Value Engineering throughout different construction phases, recognise and recall the contribution of the value engineering /value management in the development process, apply the value management to a value outcome in the decision making process and analyse the cost and value implications of project scope .and generate a Job-Plan for the implementation of Value Management workshop.

From group assignment, we learn how to implement the vm study into a project. The group as a VM team with a leader. The opinion or idea that brainstorming by the group member will be discussed and check the suitability to apply on the project. All the group members is very important in the team.