The Application of Value Engineering on Construction Projects in Lagos State, Nigeria

Authors : Oladigbolu edward; Olagunjuomotawurayo; Olajide paul. c; Adeogunerioluwa. k; Iyaraoluwafemiobaitua; Ilugbekhaichinonso. s

Volume/Issue : Volume 7 - 2022, Issue 8 - August

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Value engineering is useful for monitoring costs and improving quality. it has given the sector momentum to the global economy. Technology cost management is technology used in various industries to increase efficiency and reliability by reducing costs. The Value Engineering account accepts both non-recurring costs and recurring costs. Many problems affect the construction industry, e.g. B. Poor cost analysis, false cost estimates, shot-information and obscure systems that make it difficult to meet customer requirements. In this context, this study estimates the application of technology costs in construction projects in Lagos State. This journal provides construction professionals with a comprehensive framework to resolve and resolve different projects for basic projects. This study was conducted to compare the multiple ways in which time and costs are reduced in terms of value development and are used in the construction industry. The proposed structured questionnaire was divided into six groups of (6) respondents, reported and returned. The relative importance index has been used to support the agreement of the respondents. The results showed the level of awareness and application of the concept in the construction industry. According to the agreement among the respondents six (6) factors were considered the most important factors that impede the application of inexpensive technology in construction projects. The study concluded that the value of technology is not common in the construction industry, but adds significant value to all construction projects.

Keywords : value engineering, construction, cost analysis, assessmen


Paper Submission Last Date
31 - March - 2024

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