Connecting cost and quality through Value engineering is the main idea in this project. Value Engineering is a function oriented, systematic team approach and study to provide value in a product, system or service. Often, this improvement is focused on cost reduction; however other important areas such as customer perceived quality and performance are also of paramount importance in the value equation
Value engineering techniques can be applied to any product process procedure system or service in any kind of business or economic activity including health care, governance, construction, industry and in the service sector.
Value Engineering focuses on those value characteristics which are deemed most important from the customer point of view. And it is a powerful methodology for solving problems and/or reducing costs while maintaining or improving performance and quality requirements.
Value Engineering can achieve impressive savings, much greater than what is possible through conventional cost reduction exercise even when cost reduction is the objective of the task.
Grand Park Hotel is an ongoing project in the city of Ramallah that applies the value engineering concept in its cost estimate process. Moreover, this project is considered to be one of the biggest projects in the city. To have a closer look to the project and to be able to apply the process through experts we had the honor as a group to spend 2 months training course in this project to be able to finish our work perfectly and having all the information we need on hand.
Applying this concept needs a lot of work and experience but when it becomes a business style in handling construction projects, it can help a lot in saving money and achieving a good outcome though. Despite of the minimum experience we have we tried our best to collect all the needed data and being in the field directly defiantly helped a lot in the estimating process.