What is Value Engineering?

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Purchase printed copies of the 2014 SAVE Value Summit Proceedings at http://www.proceedings.com.

AASHTO VETC Training is accepting proposals for sponsored workshops until 9/30/2014. Download more information here.

ASTM Symposium, October 5, 2014, in New Orleans. Learn more about the E06.81 standards.

Participate in research conducted to determine the best design alternatives for construction projects. Complete the online questionnaire by October 20, 2014. Information will be held in confidence and respondents names will not be published.

SAVE Gulf Chapter VE Conference, October 23-24, 2014.

SJVE 2014 Annual Conference will be held October 28-29 in Tokyo, Japan. Go to http://www.sjve.org/en/events/108/ for more information.

SKVE National Conference, October 28-29, 2014.

Registration is open for the Canadian Value Symposium, November 17 & 18, at the Eaton Chelsea in Downtown Toronto, Ontario.

30th INVEST National Conference, December 8-9, 2014, Mumbai, India. More Details.

III. SAVE-EUROPE Conference. April 20-21. 2015. Budapest, Hungary, hosted by the SHVA. The official language is the English. More information available here: www.valuesummit.hu

VDI Wissensforum, April 23-24, 2015, hosted by BROSE in Coburg, Germany. Download the call for papers here. This is a German language conference; no English translation will be provided.

Joint International SAVE Asian VE Conference & HKIVM Conference, May 8-9, 2015, Hong Kong. Call for papers is open! Submit an abstract (300 words maximum) by November 14, 2014, to hkivm@icc.com.hk.

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Bringing Ideas Together

The value methodology (VM) is a systematic and structured approach for improving projects, products, and processes. VM, which is also known as value engineering, is used to analyze and improve manufacturing products and processes, design and construction projects, and business and administrative processes.

VM helps achieve an optimum balance between function, performance, quality, safety, and cost. The proper balance results in the maximum value for the project.

Value is the reliable performance of functions to meet customer needs at the lowest overall cost and it can be calculated like this:

Value = Function/Cost

Function is what the product or service is supposed to do.

Cost is the expenditure needed to create it.

The VM follows SAVE International®’s standard job plan, which consists of six phases:

  • Information: Gather information to better understand the project.
  • Function Analysis: Analyze the project to understand and clarify the required functions.
  • Creative: Generate ideas on all the possible ways to accomplish the required functions.
  • Evaluation: Synthesize ideas and concepts and select those that are feasible for development into specific value improvements.
  • Development: Select and prepare the ‘best’ alternative(s) for improving value.
  • Presentation: Present the value recommendation to the project stakeholders.

The best results are achieved by a multi-disciplined team with experience and expertise relevant to the project being studied. A Certified Value Specialist® usually leads the team to ensure the Value Methodology is properly followed.

Value team leaders and members may be found within the SAVE International® Consultants Directory or online at www.value-eng.org.

Enhancing Value in Your Company
VM is embraced by businesses, industries and government agencies around the globe. Building designers and contractors, automobile manufacturers, chemical and pharmaceutical companies and national, regional and local governments all use the process regularly. The benefits they achieve using VM far outweigh the investments as reduced time and cost, and increased quality contribute to corporate success and taxpayer value.