Cost Value Engineering (QSB 4214)

PORTFOLIO SEMESTER 6

COST VALUE ENGINEERING (QSB 4214)

Lecturer: Sr. Lee Wing Tey 

Objectives of this study:

1.        This subject allows me to understand in general the value process, function analysis and team dynamics in the client’s value system.

2.        This study allows me to identify alternatives to undertake value studies at different stage of a project. 

3.    This study enable me to propose a more collaborative effort towards the promotion and awareness of value management in Malaysian construction industry in an effort to achieve value for money invested.

Learning Outcomes

Throughout this study 

1.       I am able to identify the appropriate time to carry out Value Engineering throughout different construction phases.

2.       I am able to recognize and recall the contribution of the value engineering /value management in the development process.

3.       I am able to apply the value management to a value outcome in the decision making process.

4.       I am able to analyse the cost and value implications of project scope .and generate a Job-Plan for the implementation of Value Management workshop.

Module Schedule:

ate	Topics/Readers	Lecture	Tutorial	Self-directed Study
		Hours	Hours	Hours
Week 1 30 August	Introduction to Value Management		In-class Discussion	Introduction to Value Management
		2	2	7
Week 2 (Last day to add/drop a module 6September	Define of Value Management		In-class Discussion	Define of value Management
		2	2	7
Week 3 13 September	History and philosophy of Value Management		In-class Discussion	History and philosophy of value Management
		2	2	7
Week 4 20 September	Distinction between Value Engineering/Value Management/Value Analysis		In-class Discussion	Distinction between Value Engineering/ Value Management/Value Analysis
		2	2	7
Week 5 27 September	Concept of Value, Cost, Function and Worth		In-class Discussion	Concept of Value , Cost, Function and Worth
		2	2	8
Week 6 4 October	Unnecessary Cost		In-class Discussion	Unnecessary Cost
		2	2	8
Week 7       (Last day for subject/module withdrawal with WD 11October	Implementation of  Value management		In-class Discussion	Implementation of Value Management
		2	2	8

Week/Date	Topics/Readers	Lecture	Tutorial	Self-directed Study
		Hours	Hours	Hours
Week 8 (Online Student Registration) 18 October	Value Management Tools and Techniques		In-class Discussion & Feedback of Test	Value Management Tools and Techniques
		2	2	7
Week 9 (Last day  for Student Online Registration) 25 October	The Job Plan and Workshop		In-class Discussion	The Job Plan and Workshop
		2	2	7
Week 10 1 November	The Facilitator		In-class Discussion	The Facilitator
		2	2	7
4-8 November (Non-contact Week)	Mid-semester Break	-	-	-
Week 11 (Online Course Evaluation and last day for subject/module withdrawal with F(W) grade) 15 November	Benefits of Value Management-Financial and Non-Financial		In-class Discussion	Benefits of Value Management – Financial and Non-Financial
		2	2	8
Week 12 Last day for completion of Online Course Evaluation) 22 November	Problems and Constraints in Value Management		In-class Discussion	Problems and Constraints of Value management
		2	2	8
Week 13 29 November	Case Study		In-class Discussion	Case Study
		2	2	8
Week 14 6 December	Revision		In-class Discussion; Feedback of Group Assignment	Revision
		2	2	5
Week 15 Study Leave 13 December	Submission: TGC Portfolio	-	-	-

Group Assignment:

Objective:

1) To help students develop a deeper appreciation of the concepts learnt.

Learning Outcomes:

Through this assignment,

1) I am able to apply the concepts learnt.

2) I am able to develop a deeper appreciation of the concepts learnt.

Assignment Brief

Title :  Case Study Report for project implementing Value Management  in the Construction             Industry . (any project at your own selection either with VM implementation or to be               implemented with Value Management study )

Reporting Format of Case Study

-Introduction – Primary purpose of case study

-Executive summary of project under study

·         A brief description of project

·         A brief summary of problem

-The result of Functional Analysis

-Sketches before and after design showing proposed changes

-Technical data supporting the selection of alternative

-Cost Analysis

-Action plan – preparation of action plan to monitor the progress of work

-Conclusion and recommendation