Application Study Of Value Engineering At Life Cycle In EPC Project Of A Engineering Company

This paper firstly introduced the Application background simply based on Value Engineering at Life Cycle in EPC Project, considering the relevant research at home and abroad and development state, through detailed study on application method during engineering phase、procurement phase and construction phase in EPC project, using various theory of value engineering and combining with A engineering company organization and EPC project organization and the actual situation during life cycle accomplished to making value engineering application in EPC project of A engineering company systematically and scientifically.Through scheming and applying value engineering in SABIC PETROKEMYA power expansion EPC project, A engineering company study establishing the value engineering application organization model during project life cycle, and promoting value engineering practices in all phases to enhance effective control and improve management level and integrated competition, then take total value management; constructing value engineering evaluation model by clarifying key points to acquire mastery of object choice and function analysis and the ways to increase benefits, following the evaluation procedures to select the optimal scheme of the technical and economic performance; creating win-win complexion between general contractor and owner by enhancing project function and reducing risk and saving construction funds, at the same time increase the economic benefit of two parties, change their opposition status in value game, and generate greater economic benefits and social benefits in engineering project.