Weighted Product Method in the Value Engineering Process for Construction Project

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Value engineering (VE) as a strategic multidisciplinary methodology involves application of techniques that can provide project owners with the needed value in construction projects. Arriving at this value may require different evaluation tools such as goal programming, weighted product method, utility function, among others. These tools have merits and demerits that may prescribe their respective usages in projects. This research utilized the weighted product method in the evaluation of alternatives for a construction project after considering the project owners’ requirements. The method was selected because of its ease of use and ability to turn qualitative data into quantitative information. It was hypothesized that it would provide the project owner with the needed value in the project. Different alternatives were developed and evaluated to select the preferred one. The results showed good outcome that was accepted by project owner. It was concluded that weighted product method would be worthwhile inclusion in the VE methodology to evaluate alternative systems developed to meet project goals; which also supported the hypothesis. Difference in preference by project owners was noted as a potential limitation in the use of the method and so it was recommended that further research be conducted that employ other evaluation techniques such as goal programming, utility function, or analytical hierarchy process to validate the method.