What is Value Engineering?
So, what is value engineering and what are the benefits to you?
In broad terms it is the difference between an improvement to the project and the cost you incur to achieve it. It is a balance whereby the outputs (the improvement) need to be more than the inputs (your costs).
Value Engineering or VE developed from a need in the manufacturing industry in the USA where materials were in short supply during World War II. In searching for alternative solutions to this shortage, new materials and designs were explored and it was found that the same product could be manufactured with a better performance and at reduced costs.
The concept of Value Analysis was born, and this has evolved to what we know today as engineering VE.
You benefit from a set of value engineering procedures designed to achieve the lowest cost on essential functions of the project. It focuses on increasing the project value by increasing the function whilst reducing costs (or at least the cost is proportionally less to the function), but this is not to be confused with a cost cutting exercise.
It is so easy to replicate what has gone before, but through creative thinking and challenging pre-conceived ideas, our skilled project team can offer you an opportunity to create more value.