Value Engineering

Overview

Value Engineering is a continuous review and refinement process of design and specification, which augments the design efforts from initial concept up to the issuance of the last construction variation. It is normal that the integration of a Value Engineering program will result in a project savings of 5% to 15%, and a functional design within budget.

Objective

Utilizing a systematic approach, which identifies and provides the required functions of a project at the lowest possible cost, keeping the design intent unchanged, which will result in the following:

Savings on construction costs

Lower life cycle costs

Improved operational performance

Reduced maintenance costs

Identification of risks and mitigation strategies

Scope of Services

Ongoing Regular Value Engineering

At the beginning of a project, a VE analysis is performed to ensure the design consultant operates within overall cost constraints and provides maximum efficiency. The components of this analysis would include:

Examine potential cost benefits of special studies

Review progress drawings

Comment on progress drawings

Work with design consultant to make adjustments to maintain
overall budget

Conduct cost, time and efficiency studies

Analysis of high cost and problematical elements

Incorporate operational and conservation issues into the early
design process