The firm has extensive Value Engineering (VE) experience, having participated in dozens of studies over the years. We have a deep understanding of the cost drivers of projects, and can quickly pinpoint prime areas for further analysis for higher-value solutions.
Value Management (VM) and Value Engineering (VE) are techniques concerned with defining, maximizing and achieving “value for money”. At the initial stages of a project, value management provides an exceptionally powerful tool to explore a project’s objectives and aspirations from the property owner’s perspective. Value management is a team-based approach used to define the owner’s objectives and ensure that best value, whole-life solutions are selected to satisfy those objectives. It is not necessarily about cost cutting. For example, it may be in an owner’s best interest to pay a little more up front for a better and more efficient system and thus be in a position to save on longer term operations and maintenance costs over time.
To achieve maximum benefit, value management should be carried out from the very early stages of a project, not simply introduced when problems occur. Value engineering provides a systematic approach to ensure that specific functions are satisfied to the required standard for the least cost. It assesses a range of possible solutions against the values required by the owner.
Our team usually includes the designer of record, a Certified Value Specialist (CVS) who would facilitate the meeting/discussion/workshop, a “cold” design team brought in as third party reviewers and the cost estimator. The team work collaboratively in a closed setting over a period of 2-5 days depending on the project size and/or complexity in order to generate the Value Engineering Report (VER). The report, which includes a host of possible VE items, is submitted to the owner in draft and final form so the owner can make informed, value based decisions.