A contractor should be and stay profitable as long as it has backlog. To improve the profits of jobs, a very detailed value engineering is necessary. Only contractors that can improve productivity through better management of time, cost and quality will increase backlog’s profits. Reduction of risk early on in the project will help to improve profits. How to prepare and conduct a value engineering session in order to improve profits will be discussed.

This program is based on the research report Procurement Chain Management in the Construction Industry funded by ELECTRI International.

Following this course, participants will be able to:

• Identify the applicable risk
• Describe steps for an effective and consistent value engineering process
• Discuss job and labor risk, procurement planning, safety plans and technical, business and integration risk reduction