Abstract
Value engineering (VE) is the systematic application of recognized techniques by a multi-disciplined team, which identifies the functions of a project, product, or service; establishes worth for those functions; and recommends alternative ways to accomplish the necessary functions at a greater value using creative brainstorming techniques. A VE study follows the eight-phase Value Engineering Job Plan as mandated by SAVE International. The key phase in the job plan is Function Analysis, which helps the team establish the basic functions of the project. Subsequent phases in the job plan encourage the development of alternative solutions that maintain the integrity of those basic functions. This process separates value engineering from pure cost-cutting.
The presentation will walk the attendee through each of the eight phases and explain how they work within a typical VE study agenda. The presentation will define some basic terms that are integral to all VE studies as well as explain some simple mathematical formulas that help measure the success of the study. Examples of innovative ideas and project success stories that support the VE process will be shared throughout the presentation.
The presentation will also discuss how the VE industry has evolved beyond the paradigm that existed for decades that all VE studies must be conducted in person. Many studies are now performed virtually using several virtual platforms and facilitation techniques. The transition to virtual space brought along new tools and processes to facilitate the workshop. The new environment shed light on the process as a whole and has therefore shifted the way in-person workshops are also conducted.
Registration
- $0.00 - PMINJ Chapter members
- $5.00 - Non-members (no refund)
- The link to the virtual meeting will be included in
the Registration Receipt
- Download the Zoom app at: https://zoom.us/download
Speaker
John Corcoran has worked at Value Management Strategies, Inc. (VMS) as a Senior Value Manager for 4 years, facilitating Value Engineering (VE) studies and charrettes for the federal government and several state transportation agencies for projects across all disciplines. John earned the credential of Certified Value Specialist (CVS®) in 2019 as recognized by SAVE International. John was a parttime VE practitioner with Jacobs before moving to VMS in January 2022 to work in VE fulltime. John has facilitated over 100 VE studies in more than 20 states. John has enhanced his facilitation skills with techniques learned in Project Management. John earned a PMP in 2023.
Before shifting his focus to value engineering facilitation, John worked for more than 20 years as a civil engineer performing drainage design for highway and rail projects, construction services, utility coordination, stream hydraulic analysis, environmental permitting, and design and construction cost estimating. In addition, his background includes field inspection of roadway and bridge construction projects, water main installation, shallow and deep foundation construction, and large-scale earthwork operations.
His background in design, engineering, and project management combined to produce a comprehensive understanding of the VE study objectives, common project issues, and stakeholder concerns which enable him to facilitate and develop improvements to project performance, functionality, and overall value.
John earned his B.S. in Civil Engineering from New Jersey Institute of technology in January 1995 and has been a licensed PE in New Jersey since 2003.
John recently relocated to Washington, NJ with his wife after living in Pittstown, NJ for 24 years. It was in Pittstown that they raised their two children who are now grown. John enjoys the Jersey Shore and playing 50+ baseball. He is an avid collector of Yankees baseball cards.
