In today’s fast-paced and competitive project environment, achieving excellence in project management is vital for delivering sustained value and securing long-term strategic advantage. This study investigates the integration of Lean Six Sigma (LSS) and Value Engineering (VE) within project management practices. LSS applies data-driven methods to eliminate waste, reduce variability, and optimize efficiency, while VE uses functional analysis to identify cost-effective alternatives that enhance value without compromising quality. By combining these complementary methodologies, the study proposes a unified framework grounded in the DMAIC (Define, Measure, Analyze, Improve, Control) cycle to drive continuous improvement, reduce variability, and sustain superior performance throughout the project lifecycle. The framework defines clear guiding principles, establishes measurable Key Performance Indicators (KPIs) aligned with strategic goals, and emphasizes proactive management of critical failure factors to ensure resilient and effective project delivery. Beyond operational gains, this approach cultivates a culture of innovation, continuous learning, and data-driven decision-making, empowering organizations to anticipate risks and maintain competitive leadership. While currently conceptual, future research will validate and refine the framework through case studies, pilot projects, and simulations to comprehensively evaluate its effectiveness, scalability, and practical application.