A Decade of Value Engineering in Construction Projects

Abstract

Over the past half-century, value engineering (VE) has emerged as an effective tool to manage time, costs, and quality with an aim to maximize value. It has been shown to be a highly effective approach for evaluating current construction projects. However, this tool’s application in the construction domain is quite variable. This research aims to provide an in-depth quantitative and qualitative content analysis of the application of VE in construction projects. It is found that new research over the past decade has continuously improved the efficiency and productiveness of VE practices. Current work focuses on integrating VE with other disciplines, applying VE in diverse project domains, assessing VE performance, and developing new VE technologies. This broad review highlights some of the key areas of interest that required future investigation to ensure the continued delivery of value in the ever-changing and evolving construction industry.