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value engineering is any modification or variation made to the original plan or design of the project to reduce the cost of the project without effecting the quality or at least with minimum effect on quality of the product.
e.g. changing the used type of paint to cheaper one with close quality to the used one.
e.g. changing the method of design of slabs from flat slap to solid slab to reduce cost. etc.
Value Engineering refers to the calculation or usage of certain products or materials to the extent of minimum wastage without sacrificing the quality of the output. For example, a set of form works and scaffolding is provided, the quantity surveyor shall consider the number of usage of these material so it is economical.