Where Is The Value In Value Engineering?

In this present environment of belt-tightening, the phrase “value engineering”
has become synonymous with “cost cutting”. This trend is problematic from a
risk management perspective because it shifts the pure intent of value
engineering and puts into practice a less judicious methodology focused more
on saving money than optimizing the project.
http://www.hallandcompany.com/documents/2010ValueInValueEngineering.pdf