Project Finance Flashcards
1
Q
What is Value Engineering?
A
Eliminating unnecessary costs without compromising scope and client requirements.
2
Q
What is value?
A
The ratio between the benefit (outputs) and the cost or efforts (input) required to achieve the stakeholders value criteria.
3
Q
How can you achieve value engineering?
A
- Understand the Problem/Value Criteria
- Identify / Evaluate Different Solutions
- Develop the shortlisted solutions in more detail
- Identify best solutions and make recommendations.
