The Integrated Model of Value Engineering and Life Cycle Cost for the Construction Projects

The construction industry has an interest in value engineering (VE) in the design phase rather than the construction phase, because the efficiency of VE application is more effective in the design phase of a construction project. For this reason, the importance for function analysis in VE is being evaluated highly, however, because of the lack of the recognition and difficulties of application method, the function analysis phase is not being applied as a means of getting ideas. This study attempts to improve the problems in the function analysis phase by the use of an integrated process model that can be used for both VE and life cycle cost (LCC). And the study develops a web-based VE/LCC system for the suggested process model and verifies an applicable possibility through the practical examples of a harbor construction project.