Value Engineering Application in Construction Project Management

Value engineering is a combination of technical and economic subjects. It is committed with the lowest life cycle cost and reliable completion of the functions required by the user. It has an important influence and function to promote the traditional product value innovation, cultivate and develop the enterprise´s core competitiveness, and promote national economic and social sustainable development. This paper analyzes the current situation of construction project management and problems based on an overview of relevant theory of value engineering and construction project management. It Points out the importance of value engineering. Finally analyzes the application of value engineering to construction projects in various stages of the life cycle.