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Understanding the difference between value management and value engineering and when and how to best employ these two principles on projects is essential, along with proper facilitation of workshops and getting buy in and support from all stakeholders and the design team. Preparing formal reports, obtaining approval to incorporate the recommendations and then monitoring implementation of the recommendations into the design will ensure the maximum benefit of both the value management and value engineering exercises is achieved.
thanks for invition ,,,,,,,,,, i agree with experts answers
Value Engineering is reducing capital cost without compromising quality or performance of a product .
Value management is the important characteristics that must be acieved at all levels,thus resolving planning and design issues to achieve best value for money
Value Engineering: Activity Implementd done to improve value at same cost or mantain value at lower cost
Value Management: Identify area or product or service to improve value or reduce cost
Both are relate to best optimised result, however management deal with adminstrative, scheudle and cost and Engineering deal with best optimum design and quality of clearity.
value management means costomer satisfaction.and value engineering is reduse or increase of the coast
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