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Value engineering

Course Description: A problem-based, multidisciplinary course that places project and product controls, particularly regarding costs, at the core of the project management process, ensuring students understand and can identify and apply appropriate techniques to control the project as a whole in the modern business environment. The course focuses on using effective cost control methods within a project environment. How can an organization implement projects while maintaining control over their costs and value.

Credit hours: 3

Prerequisites: GE 213

Objectives of the course :

1. Recognizing the importance of cost and value management in project success.
2. Understanding the concepts of “cost” and ”value” in the context of project management.
3. Understanding the nature of the budget and financial analysis for project selection and control.
4. Develop skills in using project management reporting mechanisms to estimate project costs and investments, schedule and manage resources, and track workflows.
5. Enhance the ability to interpret control information, allowing for the management of changes (configuration) in ongoing projects.
6. Develop a multidisciplinary vision for working within project teams, recognizing the dual (and sometimes competing) requirements of managing the technical and cost aspects of a project.
Provide a framework for conducting an integrated business review of project operations.

Course outputs :

Recognizing the importance of cost and value management in project success.
• Understand the concepts of “cost” and ”value” in the context of project management.
• Understanding the nature of budgeting and financial analysis for project selection and control.
• Develop skills in using project management reporting mechanisms for estimating project costs and investments, resource scheduling and control, and workflow tracking.
• Enhance the ability to interpret control information to allow for change management (configuration) in ongoing projects.
• Develop a multidisciplinary vision for project management, recognizing the dual (and sometimes competing) demands of managing the technical and commissioning aspects of a project.

Additional information:

Last updated: 2026-05-17