The construction industry is concerned with satisfying its customers' needs through delivering projects that achieve their objectives and meet their expectations on time, within budget and as specified. Despite the several housing programmers constructed by government authorities, there is a real housing problem for the poor. This problem is attributed to a number of reasons. Amongst them, the inability of the low-incomers to cover the cost of supplied houses and the lack of the constructed projects to achieve users' satisfaction. This highlighted the need to develop innovative and creative solutions that can deliver housing projects that achieve the satisfaction of their users and at the most-cost effective manner simultaneously. This aim will be achieved through incorporating the concepts of Value Engineering and Risk Management in developing housing projects for the poor. Towards this aim, this paper attempts to accomplish three main objectives. Firstly, reviewing the historical development of housing projects, the concepts of customer satisfaction, VE and RM in construction. Secondly, identifying the capability of VE and RM and their benefits for developing housing projects for the poor. Thirdly, presenting learned lessons extracted from case studies of low-income housing projects constructed by the government of the Egypt. Finally, outlining the research recommendations for government authorities, design firms and construction professionals concerned with housing projects for the poor. Key words: Value Engineering, Projects Management Time costs qualities relationships, constructions project in Egypt, Low Cost Housing Projects.