VE vs VM Flashcards
(2 cards)
1
Q
What is value engineering?
A
Value engineering is the process of maximising value for the project. It looks into removing any unnecessary costs or increasing the ‘value’ of an item.
2
Q
What is value management?
A
Value management is the overall approach to how value can be maximised on a project. VE is a part of VM.
VM will look into “what is the best mix of different housing units in a residential development”, VE takes place at a more detailed level.
