Value Engineering Studies

This involves all the operations meant to ensure that the desired quality of the project is met concerning the output it could yield to the client by comparing it to the cost of the inputs. Here we concentrate on maximizing output as we minimize cost, a concept mathematically expressed as value divided by cost.

We follow five major steps in the value engineering process:

  • Information
    During the initial phase, the project team gathers information about the project thus far including important details about the owners ’objectives, key criteria, and definition of value.
  • Speculation
    The team studies the data and brainstorms as many ways as possible to reduce initial or lifecycle costs while still maximizing function.
  • Evaluation
    The team evaluates ideas produced during brainstorming. Some ideas become part of the final solution while others are deemed inefficient or unworkable.
  • Development
    Many of the ideas that passed the evaluation phase are further developed into workable proposals. Each recommendation will be accompanied by a short narrative with a list of the positive and negative aspects of each proposal along with cost comparisons.
  • Presentation
    Lastly, the team makes a formal written presentation of their findings accompanied by an oral presentation to clients, users, and designers. In this final stage, the client can determine which value management proposals will be incorporated into the project to reduce costs and increase overall value.