Cost Value Engineering (QSB 4214)

Lecturers: Sr. Lee Wing Tey                 

                  Sr. Loo Seong King

Objectives

• To understand the function, the contribution to the industry, the development of Value Management and understand how Value Management can be applied to construction projects so as to achieve savings in term of cost, time and quality.

Assignment

It is a Group Assignment consisting of 10 members. We are required to carry out a case study report for project implementing Value Management or project which is to be implemented with Value Management studies. In this assignment, my group had carried a case study report for Khoo's Villa. We had implemented Value Management for the project and we had learnt that we can manage cost effectively in every aspects. Learning OutcomesI have understand more about Value Management, the origins of Value Management, the terminology of the Value Management, the benefits of it to the industry, the workshop to carry out the study, the barriers to the application and the method to promote the application. I understand the benefits that Value Management can bring to a project where it will eliminate unnecessary cost but maintaining the quality and fulfill client's requirements.