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What is meant by Value Engineering in project management?

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Question added by Mohamed Sulaiman , Site Project Manager , Al tabarak for Engineering & Contracting company
Date Posted: 2013/11/17
Ahamed Shareef
by Ahamed Shareef , Divisional Head - Quality Assurance , Apollo Tyres Ltd

Value Engineering is looking for opportunities to increase value by looking at over-engineered specifications, over engineered processes, etc.  Many times design engineers defined specifications with huge factor of safety without understanding the ground realities. With the help of engineering team, value engineering can become an advantage in bringing down cost of the project. Extreme care needs to be taken to avoid misreading of any design intents......

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