Phases of value engineering process

1. Investigation phase: This phase investigates the background information, the technical input reports, the field data, the functional analysis, the team focus and the objectives.
2. Speculation phase: This phase is the creative phase where brainstorming of the alternative proposals and the solutions takes place
3. Evaluation phase: This phase analyses the design alternatives, the technical processes, the life cycle costs, the documentation of logic, and the rationale.
4. Development phase: This phase develops the technical and the economics supporting the data to prove the feasibility of the desirable concepts.
5. Presentation Phase: This phase presents the recommendations given by the Value Engineering team in an oral way to the design team along with the written report and workbook.
6. Implementation Phase: During this phase, the design team evaluates the Value Engineering Team's recommendations and implements those that have been accepted by them.
7. Audit Phase: During this phase, the performance measurement of the recommendations are compiled and reported.