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 ...