The term “value engineering” has been a major part of the plumbing profession for a number of years. Plumbing contractors like the term as a means of cutting construction costs while increasing profits. There is nothing wrong with trying to increase profits. That is what it is all about in the contracting business.
On the other hand, many engineers hate the term value engineering. Notice how I said many. Some engineers thrive on value engineering and offer this to their clients, many of whom are contractors. The others are normally the owners.