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Abstract

This dissertation investigates the influence of Value Engineering (VE) on the residential construction industry in India, with a specific focus on how VE might improve cost-efficiency, project quality, and resource utilisation. Initially created in response to material shortages during World War II, Value Engineering (VE) has become an essential instrument in the construction sector. Its primary objective is to enhance project value by minimising expenses while upholding superior quality and performance. The Indian construction industry, which makes a substantial contribution to the nation's GDP, encounters obstacles such as project delays, exceeding budget limits, and worries regarding quality. Although the industry has experienced significant expansion, it continues to face challenges related to inefficiencies in supply chain management, antiquated planning methods, and organisational structures. This study investigates how value engineering may effectively tackle these obstacles, namely in the field of residential building, where it is essential to achieve cost-efficiency, top-notch quality, and timely completion of projects.
The study employed a mixed-methods approach, collecting primary data through surveys of industry professionals and augmenting it with secondary data from existing literature. The results indicate a notable deficiency in knowledge and application of VE methods in India, as 62.5% of participants either had no knowledge of or did not employ VE. Nevertheless, individuals who have put VE into practice have experienced advantages such as decreased expenses and enhanced project efficiency. Primary obstacles to the implementation of VE encompass a deficiency in specialised knowledge, reluctance to embrace change, and misunderstandings regarding its influence on quality.
An analysis of a refurbishment endeavour in Chennai, India, showcases the pragmatic implementation of Value Engineering (VE). The project team opted to eliminate an unnecessary balcony rather than renovating it, resulting in considerable cost savings and reduced labour. This highlights how little value engineering-inspired modifications can have a large impact on project outcomes.
The study's findings indicate that in order for VE to become widely accepted in India, it is necessary to enhance awareness, education, and provide targeted strategic recommendations specifically designed for the Indian market. By surmounting these obstacles, the industry can get substantial enhancements in cost effectiveness, quality, and project schedules, thus bolstering its sustainability and competitiveness.

Course: Construction Project Management - MSc - C1659

Date Deposited: 2025-01-17

URI/permalink: https://library.port.ac.uk/dissert/dis14675.html