Appication of Value Engineering in Construction Industry

Nowadays, the construction industry was seeking to adapt to new and workable methods instead of traditional methods. The new technique lowers the cost, saves time, and raises the level of excellence and productiveness at the construction site. One of the provident and estimable techniques used in the construction industry is value engineering (VE). Value engineering lowers the excess cost and enhances the quality of the product. This research proposes materials that can serve as alternatives for implementing value engineering at construction sites. The study relies on data gathered from site visits to various locations in Mumbai. The study has taken into account six parameters, evaluated through both qualitative and quantitative methods. In addition to this, the project presents the comparison of value engineering method with the traditional method for cost benefits. The analysis of time factors was conducted using Microsoft Project (MSP) software. It is concluded that the value engineering method proved to be the problem-solving tool, reducing the cost to meet the people needs, saves time without disturbing the quality and performance, making the construction industry sustainable.