OPTIMAL COST DESIGN APPROACH IN HIGH-RISE STRUCTURE WITH VALUE ENGINEERING: A Review

ABSTRACT-Keeping the costs low with traditional cost management has been a commonly applied measure toimprove competitiveness. Only, keeping cost down alone is not enough, there is an increasing need for improve inschedule as well as efficiency and effectiveness. Value engineering is thus possibly of greater importance than costmanagement efforts. Value engineering is used to analyse the function of the materials and methods and to obtain itsrequired functions at the lowest total cost without reducing the quality of performance. This method saves money andensures that projects are cost-effective, time-effective and or improves the quality of the project. The methodologyconsists of three stages. The first is pre workshop in which the collection of data from an organization is done. Thesecond and core stage is workshop stage with five phases which are (1)information,(2)functional, (3)creative,(4)evaluation and (5)presentation where best alternative recommendations are made. The last is post workshop stagewhere the recommendations from second stage will be implemented. The main aim of this paper is to develop a ValueEngineering methodology that leads to reduce cost of high-rise building projects for people in an applicable way thatlocal professionals can understand and apply.