When applied to construction projects, Value Engineering can be used to reduce costs and determine reliable alternatives that will improve the project’s cost-effectiveness while preserving the architect’s intent and vision.
One of the biggest misconceptions about Value Engineering is that it offers immediate cost savings. Rather, Value Engineering must be “qualified,” in that a product or method of construction must work to the customer’s best interest; price is secondary. An equal product should be the first priority. What must always be remembered about Value Engineering is that it may not always save costs upfront, but may achieve long-term savings. For instance:
Will a Value Engineering idea save utility costs or reduce long-term maintenance costs?
Are we capitalizing on the newest structural or material technology?
Will a change reduce the cost of construction or its life cycle cost, but lessen the building’s performance, design quality, safety, appearance or ease of maintenance?
For those of us at Fortney & Weygandt, Value Engineering is an exciting part of our job, as it allows us to provide true value and separates us from our competition. We can’t expect clients to know and understand all the details and facets of construction. So owners need to reply on professionals like the architect, engineer, general contractor and subcontractors to put their heads together and provide the highest quality at the most competitive price. So to find out more about how to save on your next project, get involved early on – ask your design and construction professionals to work together to recommend alternative materials and construction methods that will keep your project on budget without sacrificing quality.