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All large projects, from their inception to their completion, follow certain processes, undergo evaluations of different designs, while at the same time, they ensure project functionality at certain costs acceptable to the owner. The most effective process to manage costs is a process which puts emphasis not only on functionality, but also keeps prices and schedule in check from the project beginning to the completion of construction. To keep project costs within certain parameters, there is a need to begin the project with a realistic budget and to have reliable pricing data. In addition, during the development phase, the project costs must be recalculated and, if necessary, adjusted (Bina et al., 2011). Another tool to increase the project value or decrease costs is to perform Value Engineering, i.e. an analysis of project functionality, specifications, tender documents and other project aspects, by a team of experts.This paper describes Value Engineering and how such experts' efforts would be applied on transportation projects.

Value Engineering and its Application in the Design and Implementation of a Logistics Centre