At its fundamental core, value engineering is defined as function divided by cost. By maximising the function of a project whilst simultaneously reducing cost we are able to generate the greatest value for your engineering and construction clients. However, it is a mistake to only consider the construction costs without addressing the operating, maintaining and decommissioning costs. By taking this life-cycle perspective value engineering can deliver positive environmental and social impact.
In engineering and construction, value engineering involves considering the use of materials, construction methods, transportation issues, site limitations or restrictions, planning and organisation, ease of maintenance, operating costs, etc. Benefits that can be delivered include a reduction in life cycle costs, improvement in quality, and a reduction of environmental impacts.
Our cost planners and estimators are able to offer you and cost-up value engineering ideas. However, as value engineering is a creative activity there are benefits to taking a team workshop approach. We, therefore, can also facilitate value engineering workshops for your team.
We typically work through these stages of value engineering:
- Identify the owner’s definition of value
- Create as many ways as possible to reduce construction and/or life cycle cost while still maximizing function and reducing environmental impact
- Evaluate ideas in terms of their cost and function
- Develop the ideas which add the most value
- Present the value engineered ideas to the client and the designers
Contact us to chat with one of our estimators about value engineering your projects.