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Describe the difference between value management and value engineering.
Value Engineering:
It is concerned all along with determining the cheapest method of accomplishing a previously agreed purpose.
Value Management:
It is extensive, broader and also encompasses attempts to acquire an agreed value for the purposes themselves.
Scenario: A client comes to you for investment advice on his $500,000 winnings from the lottery. He has been offered the following options by three different financial institutions
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