An Assessment of Value Engineering Practices Adopted in Nigeria

Abstract

Value Engineering (VE) is a management technique widely used in many industries focusing at enhancing necessary functions reliably at the lowest cost. The emphasis here is the removal of unnecessary cost, a concept that can prove very effective in this period of global economic meltdown. This study examines the practice of VE in the Nigerian Construction Industry with a view to assessing compliance with the generally accepted approaches as identified by the Society of American Value Engineers (SAVE). Interviews were conducted with professionals who claimed to have been involved in the VE exercise in Lagos and it was noted that the most adopted approaches in practice are modified forms of the Design and/or Construction Audit; The Package Review or a combination of the two and the Contractor’s Change Proposal, coming only came as an attempt at cost reduction: Value Engineering Team was not seen in place nor do any exist in Nigeria (Olawuyi, 2009). This study hereby offers that the “VE” techniques if properly applied to all construction projects will ensure effective function maximization and removal of unnecessary costs.