General introduction:

The value is a function of cost analysis; it can be increased either by improving the function or reducing cost. Value Engineering (VE) is a systematic method to improve the “value” of goods, products or services through an examination of the function. Principles of Value Engineering and Cost Reduction in Projects is a training program that helps engineers especially on the engineers project expenses. It is a group effort focused on a systematic process analyzing the functions of projects components, design criteria, procedures, facilities, systems, documents, specifications, and services, for maintaining and achieving the function(s) at the lowest cost of effective ownership, consistent with requirements for performance and essential criteria, such as safety, quality, maintainability, and reliability.

Course goals and objectives:

Value engineering concepts can be applied to projects and consequently lead managers to change based on analysis of the functions. It is focused on eliminating unnecessary cost from the design. Trainees will learn how value engineering is a continuous process that activates a complete review of the alternate design, alternate material, design verification for strength, workability, durability and safety, manufacturing process and testing. The success of value engineering depends mainly on the team experience and relationship with other original design team members. This will be demonstrated through the listed topics that will be covered and explained during the program period:

Course content: During the course period, the instructor will explain, discuss and analyze in detail with participants the basics and principles of value engineering and management of a projects including cost reduction process through the listed topics that will be discussed presented during the training session:-

• Introduction about value engineering
• Value Management ( principles & information)
• Value Engineering History
• Value & Quality
• Value Management Concept
• Value Management Stages
• Information Phase
• Function Analysis
• Creativity
• Evaluation of Ideas
• Positive & Negative Thinking
• Life Cycle Cost
• Value Engineering in Design & Built Project
• Analysis of Risk Management
• How to Conduct Value Management Program
• Cost Reduction
• VE & VM Team
• RFI & RFP
• Value team
• Value manager
• Verifying value offers by specialists
• Process of cost reduction process
• Alternative materials

Who Should Attend: Client representatives, project directors, project managers and their deputies, contracts managers, architects, quantity surveyors, value engineers, cost control engineers, project engineers, site manager, material engineers, site engineers, site inspectors, and other engineers of different disciplines in projects, engineers who works in private and government sector, the fresh graduate engineers. Engineers who work with developers, investors, project managers, consultants, contractors, bankers, lawyers, and accountants