| Title |
An Improvement in the Value Engineering Incentive Program of the Korean Construction Industry |
| Authors |
Lee Ji-Ung ; Choi Seok-In ; Park Chan-Sik |
| Keywords |
VE ; Value Engineering ; Incentive ; Construction VE Incentive Program ; Technology Development Reward System |
| Abstract |
The Value Engineering(VE) incentive program is the win-win strategy promoting the creative idea of contractors during construction, sharing savings between the contractor and the owner. In the Korean construction industry, the reward system that gives incentive to contractors who suggest the cost-effective plans was established in 1992. However, there are only five cases which have been accepted and rewarded for 10 years, due to complicated paper works, lengthy processing time, and low incentive, and so on. Aiming to improve the domestic VE incentive program, this study analyzes various VE incentive programs and compares the construction VE incentive policies and manuals between domestic and foreign. This study has performed an interview with experts in the domestic construction industry in order to induce improvement plans suitable for the domestic construction environment. The result of this study will be a very useful guide to the development of the effective construction VE incentive program. |