A review of value engineering as an effective system for planning building projects

Value engineering is a function-oriented and multidisciplinary approach for planning building projects using a multi-disciplined team to identify and reduce unnecessary costs and poor performance, while maintaining product quality. The value engineering process and its team and time requirements are delineated, and will aid project managers in determining cost effective ways to meet owner requirements. The value engineering job plan consists of five phases: information, creativity, evaluation, development, and implementation. Functional Analysis System Technique (FAST) diagrams illustrate the phases. The value engineering team has four to six members with complementary expertise in different disciplines. The Society of American Value Engineers (SAVE) offers suggestions, methods and requirements for using value engineering.