The new millennium must be called the century to compete for survival. The increase
interaction among international organizations has changed the world into a global village and
firms have no choice but to develop a variety of instruments and equipments to compete with
each other. Value engineering (VE) is one of the new techniques of management science
emerged in using the power of organizational creativity and entrepreneurship programs. VE
modifies the organizational activities, removes the non value-added activities and increases the
current values of organizations. VE has been successfully implemented in many areas of
management such as quality, productivity, project management, etc. The success of a VE
program depends on many organizational factors such as the availability of resources, the
strategy and the organization structure, the senior management support, the organizational
culture and the communication and information systems. In this study, we identify and
prioritize organization factors affecting the implementation of VE using ELECTRE III method.