On Thursday, November 07, we had a very fruitful meeting with Mr. Mehmet Harmancı, the Mayor of Lefkoşa, on Value Management.
The importance of the meeting is that it is the first meeting within the framework of function analysis, public, cost improvement and sustainability quadrants in the municipality. We discussed and examined with examples the applicability of Value Management all over the world to the efficiency and cost improvement results, especially in municipal projects. All projects realized in municipalities is a great example of the principles of Value Engineering. The framework will reduce the existing costs for new projects to be created, including on-going projects, with the flexibility and efficiency to realize more projects with smaller budgets. This means, savings in project costs incurred by the Government as a result of a value proposition of engineering change after reducing the municipality's share of cost savings.
We have talked about savings by 5% - 25% by using Value methodology to create more projects focused on the basic needs of Nicosia, produce correct purchase orders, measure and control variations, and generate accurate accounts reports ... We also mentioned how we can create all the listed variables in the most ideal model with Value Engineering, control them and make cost-effective project management.