COST VALUE ENGINEERING (QSB 4214/QSB 4215)

1.0 Acknowledgement

Specially thank to Sr. Loo Seong King in assigning and guiding us throughout the project. He has given us this opportunity to produce Value Management report and helped us by giving us information on how to proceed in order to complete the project on time.

2.0 Module Synopsis

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 involved – the facilitator. The module concludes with a series of discussion on the problem and constraint in the implementation stage based on some significant case studies.

3.0 Module Teaching Objectives

The teaching objectives of the module are:

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.

4.0 Module Learning Outcomes (MLO)

1. Identify the appropriate time to carry out Value Engineering throughout different construction phases.

2. Recognize and recall the contribution of the value engineering/value management in the development process.

3. Apply the value management to a value outcome in the decision making process.

4.Analyse the cost and value implications of project scope and generate a Job-Plan for the implementation of Value Management workshop

5.0 Group Assignment 

In this assignment, we are required to select one project which is located at Kuching, Sarawak in order to apply Value Management in that particular project. So, we are required to proposed new design for the purpose of increase the function of the project and eliminate the unnecessary cost that acquired in the project. After we had come out with the new design with the stated action plan, functional analysis and cost analysis, we had actually compare between the original design and current design by scoring matrix in order to have a clear view on the viability of the propose plan. Throughout this project, I have realized that a leader in a group is very important, without a good leading and managing in group, this project might not be successfully organized and ended with an unexpected result.