Value Management Division
Ministry of Economy
Level 2, Menara Prisma
No 26, Jalan Persiaran Precint 3
Federal Government Administrative Centre
Tel. No. : 03-80902555
- Implement Value Management (VM) at Value Assessment (VA) for Federal Government development projects worth RM50.0 million and above
- Approve the feasibility of building space according to the norms for the RM5.0 million to RM50.0 million project and renovation of buildings valued at RM1.0 million and above through the Standard and Cost Committee (SCC)
- Implement Public Sector Comparator (PSC) system
- Providing advice and comments on technical issues related to the EPU
- Formulating and improving Circulars, Guidelines and other related VM, JSK or PSC
- Membership of Office Space Committee (JRP) JPM in the process of approval of private building rental (from aspect of space entitlement)
Implementation of Value Management (VM) aims to identify and provide options as well as to remove components and costs that do not contribute to the value of services, systems and projects without compromising the objectives and functions.
VM is defined as a systematic and innovative multi-disciplinary approach to study the specific functions of a program, design, product, service, project, facility and system to achieve better value and optimal cost without affecting the performance level of the program / project.
To ensure that program / project execution costs reach value for money, the Government has determined that all projects within the Five Year Development Plan worth RM50.0 million and above need to go through the value management process.
The Ministry of Economic Affairs has taken a major step in turning VM into a program / project planning tool starting with the 10th Malaysia Plan by issuing UPE Circular No. 3 of 2009 and updated in the UPE Circular No. 1 Year 2015 which requires all programs / project worth RM50.0 million through VM process.
Value management processes involve all stakeholders to evaluate and find alternatives at optimal cost without affecting project objectives, functions and quality.
Value Management has been conducted on the 10MP programs and projects worth RM50.0 million and above has shown that VM has provided maximum savings and benefits if implemented in the early stages of program / project planning, where the actual scope, function and cost project can be finalized.
We undertake to carry out committed responsibilities with a dedicated dedication through an excellent and professional work culture in providing customers with the following:
- Implementing value management processes on programs / projects worth RM50.0 million and above;
- Review and approve complete application of a technical proposal and cost project based on compliance with the Standard and Cost Committee Guidelines within two (2) weeks from the date of receipt of complete information;
- Review and approve complete application of a Notice of Change project within five (5) working days from the date of receipt;
- Updating and providing guidelines and distributing them to the Ministry / Customer Agencies upon approval by the Ministry of Economic Affairs or the relevant party;
- Checking, processing and approving complete applications for installation air conditioning within two (2) weeks from date of receipt;
- Review, evaluate and approve complete application for rental of office space within two (2) weeks from the date of receipt; and
- We are willing to accept constructive insights from our customers for the mutual benefit in providing an orderly, systematic and customer-friendly service.