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There are two things related to value, one is value engineering and another is value addition. Value engineering what I would say is to re-structure the quantum of work so as to increase the profitability. This may include cutting short the things in the scope of work but may not be necessarily required for the quality of final product or facility.
On the other hand value addition would be to add technical value/ better technology to the existing scope of work without cutting short any of it, and within the approved budget.
Anyone who deals with engineering should know that.
Sure , We Must know that . ( to redesine with repect to the function , Codes& & switch to lower cost ).
