Cost Value Engineering (QSB 4214)

Cost Value Engineering (QSB 4214)

Lecturer: Sr Lee Wing Tey 
                  Sr Loo Seong King

The module provides the history, background, theories, concepts and principles of value engineering / value management in decision making process.  The module also introduces the idea of unnecessary cost and cost cutting exercise in the cost planning and control stage.  It is then generally covers area of implementation of value engineering and the key person involve – the facilitator.  The module concluded with a series of discussion on the problem and constraint in the implementation stage based on some significant case studies.

Objectives:

1.       To create an understanding in general the value process, function analysis and team dynamics in the client’s value system.

2.       To identify solutions to undertake value studies at different stage of a project. 

3.   To recommend 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 Outcome:

After taking this subject,

1) I am able to identify the appropriate time to carry out Value Engineering throughout different construction phases.

2) I am able to recognize and recall the contribution of the value engineering /value management in the development process

3) I am able to apply the value management to a value outcome in the decision making process.

4) 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.

Assignment 

The assignment required us to come up with a case study report for a project which implements value management in the construction industry. The project for this report was conducted on toilet belonging to MAHB located at KLIA.

Test 

The mid term test  on topics from chapter 1-6 was administered to test the students on what they have learnt in the past few months. This is to test the ability of the students in identifying, analysing and applying the principles of cost value engineering in the test.