| The usage of Value Engineering has become a growing trend within both the design and construction phases of the Construction Industry. Value Engineering is a method used to facilitate the increase in the life cycle value of a project. It has rapidly gained acceptance in several government agencies which procure construction services. However, Value Engineering is currently receiving a slower acceptance in private industry's procurement of construction services.;This study, presented herein, evaluates the use of Value Engineering in several integral parts of the Construction Industry. The study examines areas of discontent with Value Engineering and proposes methods which, if implemented, should alleviate those problematic areas. The study presents a Life Cycle Cost system which may be used for the evaluation and comparison of designs and construction methods during the original design work or during applications of Value Engineering. In addition, the study presents a system which may be used for the collection and organization of life cycle cost data for building systems. The implementation of such a system would enhance the use of Value Engineering by increasing the accuracy of the Life Cycle Costing decisions made within the Value Engineering studies. |
