👉 Value engineering is a systematic method used to improve the value of a project or product by analyzing its functions and identifying cost-effective alternatives that maintain or enhance performance. It involves a multidisciplinary team that evaluates each component's necessity, function, and cost, aiming to optimize the balance between functionality and expense. By focusing on essential features and eliminating unnecessary costs, value engineering helps organizations achieve better project outcomes, reduce waste, and increase efficiency without compromising quality or performance.
