VALUE ENGINEERING
Value Engineering is a conscious and explicit set of disciplined procedures designed to seek out optimum value for both initial and long-term investment. First utilized in the manufacturing industry during World War II, it has been widely used in the construction industry for many years.
Value Engineering (VE) is not a design/peer review or a cost-cutting exercise. VE is a creative, organized effort, which analyzes the requirements of a project for the purpose of achieving the essential functions at the lowest total costs (capital, staffing, energy, maintenance) over the life of the project. Through a group investigation, using experienced, multi-disciplinary teams, value and economy are improved through the study of alternate design concepts, materials, and methods without compromising the functional and value objectives of the client.
Review the program
Perform a functional analysis of the facility
Obtain the owner/users definition of value
Define the key criteria and objectives for the project
Verify/validate the proposed program
Verify/validate the proposed program
Review master plan utility options (e.g. Central Utility Plant versus individual systems)
Offer alternative solutions (square footage needs per function, adjacency solutions, etc.)
Verify if the budget is adequate for the developed program
In the final analysis, Value Engineering is not only beneficial, but essential because:
The functionality of the project is often improved as well as producing tremendous savings, both initial and Life-Cycle Cost.
A "second look" at the design produced by the architect and engineers gives the assurance that all reasonable alternatives have been explored.
Cost estimates and scope statements are checked thoroughly assuring that nothing has been omitted or underestimated.
Assures that the best value will be obtained over the life of the building