Value Engineering (VE) is a systematic process using a team from a variety of disciplines to improve the value of a project through the analysis of its functions. The VE process incorporates, to the extent possible, the values of design; construction; maintenance; contractor; state, local and federal approval agencies; other stakeholders; and the public.
The primary objective of a Value Engineering study is value improvement. The value improvements might relate to scope definition, functional design, constructibility, coordination (both internal and external), or the schedule for project development. Other possible value improvements are reduced environmental impacts, reduced public (traffic) inconvenience, or reduced project cost.
Value Engineering can be applied during any stage of a project’s development, although the greatest benefits and resource savings are typically achieved early in development during the planning or scoping phases.
Value Engineering (VE) is a proven, effective tool for both continuous improvement and design enhancement. VE optimizes the allocation of limited funds without reducing the quality of a project.
Value Engineering Objectives
- Build consensus with our partners to encourage positive impacts on project delivery.
- Innovative cost avoidance ideas become standard on future projects.
- Reduce life cycle cost of items to lower future maintenance costs