9 essential components of a successful value engineering program

By Derek Da Silva

A common request by clients is to incorporate value engineering into a project to reduce capital costs. Many project teams will start a cost reduction plan that may even include a specific target. However, value engineering is not just reducing the cost of a project, but involves several elements that are commonly overlooked. This paper discusses the nine essential components of a successful value engineering program and how to implement them.

As manager of quality and organizational change, Derek's role is to help our Oil & Gas teams establish work processes, improve performance, and prepare for continued growth.