Abstract: This paper presents value engineering analysis of the functions, technical process and cost of the frequency control system of polymer injection pumps. Equipments are optimized, advanced, reliable and practical technologies are selected and technical process is improved. Unnecessary functions and relevant costs are cut down while ensuring the necessary functions of polymer injection engineering. Design is optimized, project value is increased and engineering cost is lowered (3.38 million RMB). Several problems to which much attention should be attached when applying value engineering are also included in this paper.