Construction Value Engineering (VE):  A review by KHS Engineering Topics   What is Value Engineering?   VALUE ENGINEERING (VE)  is one of the value techniques (Figure 01) practices commonly in building construction industry. It is a methodology used to analyze the function of the goods and services to obtain the required functions of the user at the lowest total cost without compromising the necessary & the expected quality of performance. In other words, VE is a management technique that pursues the best functional equilibrium between COST, RELIABILITY & PERFORMANCES  of a product, project, process or service. VE is a multidisciplinary decision-making procedure based on a systematic and structured process concentrating on Value Discovery, Realization & Optimization (Figure 02). It is very significant to understand that VE is not about:                 Cost Cutting          ...