Value engineering is a process used to create and/or optimize solutions. The methodology focuses on improving value by first understanding the required functions of a product, process, or project and then seeking solutions to accomplish this while minimizing the expenditure of resources (initial capital, operating and maintenance) over the life of the product/project. The process is not intended to “cheapen” nor “cut corners”.
When Should You Do It?
A “Value Engineering” workshop is best conducted at the schematic design phase of a project. Participants usually include an independent multi-disciplined team, led by a Certified Value Specialist trained in the process, i.e. the systematic application of techniques that follow an organized review, function-oriented approach and creative thinking to explore alternative ways of performing functions.
It is NOT a routine project or plan review.
A so called “Value Engineering” review that occurs after the project has been designed or bid is not truly value engineering but an effort in identifying cost cutting items where you typically lose value. What occurs is a lessening of the quality of materials requiring more maintenance and/or earlier replacement (life cycle), or deferral of work (which will cost more later) in order to meet budget.
We Take Giving Value to Projects Seriously.
Our firm has two Architects that have been formally trained in “Value Engineering” through a 40-hour workshop in the systematic, organized approach to obtain optimum value for every dollar spent. They have also been part of value engineering teams on diverse types of projects.
Visit the website of SAVE International at www.value-eng.org (Society for the Advancement and Promotion of Value Methodology Engineering) for more information about value engineering.