Objective
- To implement Value Management (VM) at the Value Assessment (VA) stage for Federal Government development projects valued at RM50.0 million and above.
- To approve the qualification of building space according to standards for projects between RM5.0 million and RM50.0 million and building renovation projects valued at RM1.0 million and above through the Standard and Cost Committee (JSK).
- To implement the Public Sector Comparator (PSC) system.
- To provide advice and commentary on technical issues related to the Economic Planning Unit (EPU).
- To develop and improve circulars, guidelines, and others related to VM, JSK, or PSC.
- To be a member of the Office Space Committee (JRP) in the approval process for private building leasing (from the space qualification perspective).
Value Management
The implementation of Value Management (VM) aims to identify and provide alternatives as well as remove components and costs that do not contribute to the value of services, systems, and projects, without affecting the established objectives and functions.
VM is defined as a systematic and innovative multidisciplinary approach to reviewing the functional needs 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 the expenditure for the implementation of programs/projects achieves value for money, the Government has mandated that all projects in the Five-Year Development Plan valued at RM50.0 million and above must undergo the value management process.
The Ministry of Economic Affairs has taken a significant step in making VM a program/project planning tool, starting with the Tenth Malaysia Plan (RMKe-10), by issuing Circular UPE Number 3 of 2009, updated in Circular UPE Number 1 of 2015, requiring all programs/projects valued at RM50.0 million to undergo the VM process.
The value management process involves all stakeholders to assess and find alternatives with optimal costs without compromising the objectives, functions, and quality of the project.
We pledge to carry out the responsibilities entrusted to us with full dedication through a culture of excellence and professionalism in providing services to our customers as follows:
- Implementing the value management process for programs/projects valued at RM50.0 million and above;
- Reviewing, analyzing, and approving the technical and cost proposals of complete project applications based on compliance with the Standard and Cost Committee Guidelines within two (2) weeks from the date of receiving complete information;
- Reviewing, analyzing, and approving the complete application for a Notice of Change for a project within five (5) working days from the date of receipt;
- Updating and preparing guidelines and distributing them to the relevant Ministry/Agency customers after approval by the Ministry of Economic Affairs or the concerned authority;
- Reviewing, processing, and granting approval for complete applications for air conditioning installations within two (2) weeks from the date of receipt;
- Reviewing, evaluating, and granting approval for complete applications for office space rental within two (2) weeks from the date of receipt; and
- We are ready to receive constructive feedback from our customers for the collective benefit in providing services that are organized, systematic, and customer-friendly.
Contact Us
Director
Value Management Division
Ministry of Economy
Aras 2, Kuadran 4, Menara Prisma
No.26 Persiaran Perdana, Presint 3
Pusat Pentadbiran Kerajaan Persekutuan
62675 W.P Putrajaya
No. Tel : 03-80902555
Faks :