Value management and engineering are related disciplines for getting better value for money out of your investment in projects. Using both techniques can contribute to the elimination of waste and reduce your overall costs.
Value management is used to define what the value of meeting a perceived need will be to a company. Normally taking place at the start of a project, it deals with establishing a clear consensus about project objectives and how to achieve them.
Once the management design for a development is defined, value engineering is a process used to strip away unnecessary work and deliver the required functions at the lowest cost without detriment to quality, performance or reliability.
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