Quantity Surveyors have been participating in many value engineering exercises required by the Clients and other Consultants. However, those exercises are mainly for cost cutting, which Quantity Surveyors are well qualified to do, but little focus has been put on the function and value aspects. The genuine meaning of value engineering (subsequently developed to be called “value management” or “value methodology” or “VM” in short) requires an analysis of the functions to be achieved and an evaluation of the values attainable, not just costs. Quantity Surveyors are sometimes required to participate in VM studies including attending workshops. The Government is adopting VM on its projects. NEC also has provisions for VM. The VM workshops for Government projects do have limitations in terms of the time available and the experience of the participants. Not every participant, including Surveyors of different divisions, knows the concept, principles, methodology and the entire process, and how to contribute to the studies. Sr Tang would like to brief people to understand how to better contribute to the VM studies.