What is Value Engineering?

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FFC & SAVE International Government Value Management Workshop, November 4, 2015. Event will be held at the National Academies of Sciences, Engineering and Medicine. Download agenda.

SAVE Membership Campaign: Get 10% off your next membership renewal with each new member you refer! Refer 5 new members and get 60% off your next membership renewal. Restrictions apply. Highest number of referrals will receive recognition at the 2016 SAVE Value Summit. Campaign ends April 30.

2016 SAVE Value Summit, June 5-7, held jointly with Value Analysis Canada. The call for papers and pre-conference workshop proposals are open until December 31, 2015. More information to come.

The 48th SJVE Annual Conference will be held in Tokyo, Japan, on October 27-28, 2015.

INVEST 2015 International Conference, November 20-21. Event will be held at MyFortune in Bengaluru, Karnataka, India. Download the event brochure. Go to www.invest-in.org for more information.


Save the Date: Wissensforum, April 25-28, 2016. Hosted by VDI, this event will be held in Munich, Germany and hosted by Knorr-Bremse AG. Pre-conference workshop on Apirl 25 and factory tour on April 28.

16th Value Management Conference will be held April 26-27, 2016, in Munich Germany. Download the registration brochure and call for papers here.

2015 SAVE Value Summit photos are available for purchase from Naim Hassan Photography.

Purchase printed copies of the 2014 SAVE Value Summit Proceedings at http://www.proceedings.com.

Do you prefer to read from the printed page? Order print-on-demand copies of the SAVE 2013 Conference Proceedings from Curran Associates, Inc. or call (845) 758-0400.

Bringing Ideas Together

The value methodology (VM) is a systematic and structured approach for improving projects, products, and processes. VM, which is also known as value engineering, is used to analyze and improve manufacturing products and processes, design and construction projects, and business and administrative processes.

VM helps achieve an optimum balance between function, performance, quality, safety, and cost. The proper balance results in the maximum value for the project.

Value is the reliable performance of functions to meet customer needs at the lowest overall cost and it can be calculated like this:

Value = Function/Cost

Function is what the product or service is supposed to do.

Cost is the expenditure needed to create it.

The VM follows SAVE International®’s standard job plan, which consists of six phases:

  • Information: Gather information to better understand the project.
  • Function Analysis: Analyze the project to understand and clarify the required functions.
  • Creative: Generate ideas on all the possible ways to accomplish the required functions.
  • Evaluation: Synthesize ideas and concepts and select those that are feasible for development into specific value improvements.
  • Development: Select and prepare the ‘best’ alternative(s) for improving value.
  • Presentation: Present the value recommendation to the project stakeholders.

The best results are achieved by a multi-disciplined team with experience and expertise relevant to the project being studied. A Certified Value Specialist® usually leads the team to ensure the Value Methodology is properly followed.

Value team leaders and members may be found within the SAVE International® Consultants Directory or online at www.value-eng.org.

Enhancing Value in Your Company
VM is embraced by businesses, industries and government agencies around the globe. Building designers and contractors, automobile manufacturers, chemical and pharmaceutical companies and national, regional and local governments all use the process regularly. The benefits they achieve using VM far outweigh the investments as reduced time and cost, and increased quality contribute to corporate success and taxpayer value.