Application of Value Engineering in Construction Projects and Property Services: a Review of the Past Decade's Research and Development

• Main Author: NIDA FAUZIA
• Other Authors: CHEN, WEI TONG
• Format: Others
• Language: en_US
• Published: 2018
• Online Access: http://ndltd.ncl.edu.tw/handle/mrz3mf

碩士 === 國立雲林科技大學 === 營建工程系 === 106 === Time, cost and quality have always been the main problem of any construction and property projects. Value engineering offers an appropriate tool for construction projects and also property services to gain efficiency and effectiveness in terms of time, cost and quality. Value engineering (VE) emerged as a problem solver in a recessive situation such as lack of sources and pressed budget. Despite the suitability of VE, its applications in the construction projects and property services domain are still not clear. This research is expected to create an integrated and clear picture of the value engineering research in construction projects and property services. This study used content analysis for the purpose of reviewing an in-depth literature. This research helps construction management academics and practitioners to get a comprehensive knowledge of the VE application development. The study findings show that there are seven updated VE technologies which can help VE study easier and faster, namely; VE-KMS, RETRIEVE, Fuzzy CBR, ELECTRE III, GDSS, BIM-based Idea Bank, and LiVE. There are plenty of VE applications, however, in terms of construction projects during 2009-2018 there are nine VE applications identified: cost efficiency, idea generation, decision making, evaluating alternatives, quality improvement and maximize value, time-saving, ensure safety, design review and eliminate the problem. In the past decade, VE has been used for several construction projects such as residential building, highway, educational building, high rise building, irrigation, water construction and other construction projects. VE has been applied among real estate development practitioners and most of the developers conducted VE during conceptual design. Applying VE in Public-Private Partnership (PPP) projects also help to reduce corruption. Keywords: Value Engineering, Construction Projects, Property Services, Research Review