The Application of Value Engineering in Construction Projects ▪ ▪ ▪
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The concept of value engineering was developed by Lawrence Miles This concept was devised as a result of the material shortage of certain finished products during the Second World War The only problem was the manufacturing process was running at full capacity through the shortage of goods.
Lawrence Miles worked for General Electric or GE As he was not able to obtain any replacement material, it was quite necessary to obtain materials at maximum capacity Value engineering began with a team-based approach As it was more inclined towards engineering, the term “value engineering” was apt Instead of value engineering, value management was adopted in a broad and higher-order description Thus –