Value Engineering in Construction
Value Engineering is a methodology used to solve problems that arise during a project. It is also used to identify and eliminate any unwanted costs, all while maintaining improved function and quality. The goal is to increase the value of a given product and to satisfy the product’s performance requirement at the lowest possible cost.
Value Engineering in Construction means that consideration is given to the availability of materials, construction methods, transportation issues, site limitation or its restriction. This also includes planning, organizing and costs and profits. Value engineering is the search for benefits that can be delivered like a reduction in life cycle costs, any improvements in quality and reducing any environmental impacts during project construction.
Value engineering needs to begin at the very inception of a project, during its infant stages because that is where the benefits are most significant. While it is most optimal from the very beginning, General Contractors can also make a major contribution to value engineering by identifying and making appropriate changes that do not affect completion dates, a projects timescale or incur additional costs that would make any attempts at saving costs moot.
Value engineering should comprise of:
- Pinpointing main elements of a product, service or a project
- Examine the function of every element
- Developing and creating alternative solutions to deliver these functions
- Evaluating the alternative solutions
- Distributing costs to these new solutions
- Designing in more detail the substitutions with the highest probability of success
Value engineering in construction should take a comprehensive view of looking at the selection of materials, equipment, and other processes to check for more cost effective solutions that may exist to achieve the same development goals.
Albertelli Construction understands value engineering and has the proper expertise to implement good practices in every project that it is involved in and help clients make informed decisions that will lead their project into success. Value engineering in construction is a valuable aspect of every project and must be done to ensure a successful project.