Value engineering is an organized creative activity, and the ultimate goal getting the maximization value can achieve through the reasonable use of value engineering with promote technical and economic organically. The paper expounds the concepts and principles of value engineering and then analyses how to use value engineering method to make scientific and sound decisions to achieve better benefits in the construction project investment decision. At the end of the paper, some problems which we should pay attention to are proposed in the construction project decision-making in the process of applying the value engineering. And then there will be a new way to discusses the investment decision about a project, and this method can be applied in the future projects of decision-making.