COST VALUE ENGINEERING (QSB 4214)
COST VALUE ENGINEERING (QSB 4214) by Sr. Lee Wing Tey
Purpose of study cost value engineering
This subject also explores the understanding of value management among the students such as the types of these studies, procedure, process and others. Among the chapters in this subject, value management tools and techniques is the chapter which I found to be most interested and useful for a Quantity Surveyor. This chapter consist method of function analysis which can help to decide materials are important and most useful for that project and it is helpful when exercising cost cutting. Although Value Management has its own problems but there are existing ways to solve them. Furthermore, this concept also brings benefits to Client through the implication in the construction industry
Objectives
The objectives of this study is to understand in general the value process, function analysis and team dynamics in the client’s value system. . Secondly, enable author to identify solutions to undertake value studies at different stage of a project. Lastly, is significant to let author to know value management in Malaysian construction industry in an effort to achieve value for money invested.
Learning Outcomes
Throughout different construction phases, students are able to identify the suitable time to carry out Value Engineering upon the completion of tasks given by lecturer. In addition, contribution of the Value Engineering or Value Management in the development process can be recognized and recalled. Never the less, students are trained to apply the Value Management to a value outcome in the process of decision making. Lastly, ability of analyzing the cost and value implications of project scope and generating Job-Plan for the implementation of Value Management workshop can be achieved.
Test
After few months of studying this subject, student must prepared to face the mid term test which to test the students memories of what have learned from 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.
Purpose of study cost value engineering
This subject also explores the understanding of value management among the students such as the types of these studies, procedure, process and others. Among the chapters in this subject, value management tools and techniques is the chapter which I found to be most interested and useful for a Quantity Surveyor. This chapter consist method of function analysis which can help to decide materials are important and most useful for that project and it is helpful when exercising cost cutting. Although Value Management has its own problems but there are existing ways to solve them. Furthermore, this concept also brings benefits to Client through the implication in the construction industry
Objectives
Throughout different construction phases, students are able to identify the suitable time to carry out Value Engineering upon the completion of tasks given by lecturer. In addition, contribution of the Value Engineering or Value Management in the development process can be recognized and recalled. Never the less, students are trained to apply the Value Management to a value outcome in the process of decision making. Lastly, ability of analyzing the cost and value implications of project scope and generating Job-Plan for the implementation of Value Management workshop can be achieved.
Test
After few months of studying this subject, student must prepared to face the mid term test which to test the students memories of what have learned from 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.
Group Assignment
Students are required to prepare a case study of Value Management application in construction industry. The purpose of this assignment is enable students to develop a deep appreciation of the concept learnt by applying them in the assignment. Besides, students are also expected to explore outcome of the implication for the case study in local construction industry in both public and private sectors.
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