Cost Value Engineering QSB 4214 (SEMESTER 6)

COST VALUE ENGINEERING (QSB 4214)

Lecturer: Sr. Lee Wing Tey 

Objectives of this study:

•      This subject allows me to understand in general the value process, function analysis and team dynamics in the client’s value system.
•       This study allows me to identify alternatives to undertake value studies at different stage of a project. 
•     This study enable me to propose a more collaborative effort towards the promotion and awareness of value management in Malaysian construction industry in an effort to achieve value for money invested.

Learning Outcomes:

Throughout this study,

•         I am able to identify the appropriate time to carry out Value Engineering throughout different construction phases.
•         I am able to recognize and recall the contribution of the value engineering /value management in the development process.
•         I am able to apply the value management to a value outcome in the decision making process.
•         I am able to analyse the cost and value implications of project scope .and generate a Job-Plan for the implementation of Value Management workshop.

Topics:

1. Introduction to Value Management

2. Define of Value Management

3. History and philosophy of Value Management

4. Distinction between Value Engineering/ Value Management/ Value Analysis

5. Concept if Value, Cost, Function and Worth

6. Unnecessary Cost

7. Implementation of Value Management

8. Value Management Tools and Techniques

9. The Job Plan Workshop

10. The facilitator

11. Benefits of Value Management

12. Problems and Constraints in Value Management

Group Assignments:

Objective:

• To help students develop a deeper appreciation of the concepts learnt.

Learning Outcomes:

Through this assignment,

• I am able to apply the concepts learnt.
•  I am able to develop a deeper appreciation of the concepts learnt.

Assignment Brief:

Title :  Case Study Report for project implementing Value Management  in the Construction             Industry . (any project at your own selection either with VM implementation or to be               implemented with Value Management study )

Reporting Format of Case Study

-Introduction – Primary purpose of case study

-Executive summary of project under study

·         A brief description of project

·         A brief summary of problem

-The result of Functional Analysis

-Sketches before and after design showing proposed changes

-Technical data supporting the selection of alternative

-Cost Analysis

-Action plan – preparation of action plan to monitor the progress of work

-Conclusion and recommendation