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VALUE ENGINEERING AND MANAGEMENT

Course Background
High demand and limited supply of materials and labour has led to some 40% increase in construction costs in Singapore. Industry players have responded by trying to cut costs down the line. Indiscriminate cost cutting could result in a ‘cheapened’ product/service and impact subsequent operating and maintenance costs.

Value Engineering & Management (VEM) is a structured approach to assess a project/ system/product/service with the aim of seeking cost savings without compromising functionality, performance and reliability. In the process it attempts to:

  • Remove unnecessary cost with no loss in function
  • Provide the required function at the lowest life-cycle cost
VE was first introduced in the 50′s and was rapidly adopted due to its effectiveness. The US Public Building Service introduced mandatory VE requirements in the design stage of Traditional Contracts in 1968 and wrote it in as a service requirement in construction management contracts in 1972.

The benefits of VEM are not well appreciated in Singapore possibly due to a lack of knowledge. As construction costs continue to rise, VE will have to be a norm rather than an option in the pursuit of providing a product/service at the lowest possible cost without compromising performance requirements.
Course Objectives
The course will provide fundamental knowledge of VEM principles, process and methodology. The follow-up workshop will provide hands-on skills to apply key VE methodologies.
Course Outline
  • INTRODUCTION TO VALUE ENGINEERING AND MANAGEMENT
    • Value, Value Engineering & Value Management
    • Origin and Drivers
    • Savings & Benefits
  • BUILDING PROJECT LIFE CYCLE & VALUE ENGINEERING
    • Project Phases & Parties Design Phase
    • Applying VE: Factors to Consider
    • VE Pre-requisites & Study Team
  • VALUE ENGINEERING JOB & JOB PLAN
    • Selecting the VE Job
    • VE Job Plan
      • Information Phase
      • Speculation Phase
      • Analytical Phase
      • Proposal Phase
      • Final Report Phase
  • VALUE ENGINEERING METHODOLOGY & SUPPORTING TECHNIQUES
    • Function Analysis
    • Cost Worth Ratios
    • Weighted Evaluation
    • Life Cycle Costing
  • SEEKING AND SELECTING MORE COST EFFECTIVE AND HIGHER VALUE SOLUTIONS
    • Key Questions
    • Checklist
    • Evaluation
    • Selling the Solution
Who should take this course?
The course will benefit those who have a vested interest in buildings including:

  • Developers
  • Building Owners
  • Government Officials
  • Architects
  • Engineers
  • Project Managers
  • Quantity Surveyors
  • Contractors / Sub-Contractors / Suppliers
  • Property Managers
  • Facilities Managers
  • Maintenance Managers
  • Management Corporations
  • Town Councils
  • and Others
Course Accreditation and Certificate of Attendance
The course has been approved for 7 PDU units under the PE Board Continuing Professional Development programme. Attendance certificates will be issued; they may also be suitable for meeting the CPD requirements of other relevant professional bodies not operating a CPD course accreditation system.
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