GreenWorks Is A
In Value Engineering
WHAT IS VALUE ENGINEERING AND WHY DOES IT MATTER?
Value engineering is a creative organizational endeavor used to analyze the demands of a project. This is for the sole purpose of accomplishing imperative functions at the lowest total costs over the life of the project. You may consider it a systematic method to enhance the value of a service that a project produces. It matters because, in order to stay relevant in an ever-changing environment, one must evoke new ideas for ways to sustain or enhance results while reducing costs.
The Role of Value Engineering
In Structural Design
During this early stage of development, changes to a project have minor effects on the schedule and cost of efforts. You can expect a team to do the following:
Review the program;
Determine your definition of value;
Define a criterion and set objectives;
Obtain a functional evaluation;
And confirm the budget.
This is the stage where most Value Engineers (VEs) become involved. Once the design has made it to the schematic phase, VEs are able to hit their stride. They facilitate collaboration between the design team and the client on proposed design, schedule, cost estimate, and finally to figure out ways to get the best value for the money budgeted.
During this phase, Value Engineering is still able to implement a Value Engineering Change Proposal (VECP). Incentives may be offered to contractors who propose solutions with enhanced value for the owner.
METHODOLOGY AND APPROACH OF VALUE ENGINEERING
THIS IS WHERE THE STANDARD FIVE STEP JOB PLAN
COMES INTO PLAY:
1) Information Phase: During the beginning research portion, project information is obtained, and primary goals are set. Engineers form an understanding of overall client objectives and begin to outline the owner’s definition of value.
2) Speculation Phase: In this phase creative ideas start to flow. The team will focus on quantity, linkage of ideas, and also consider the best ways to achieve project goals at the lowest cost to the client.
3) Evaluation Phase: Together, the team and the client will narrow proposed ideas from a broad creative spectrum to a more focused criteria.
4) Development Phase: At this point the best ideas are executed as applicable solutions. The development phase is made up of design change, evaluation of the negatives and positives, cost assessments, and design forecast.
5) Presentation Phase: In this final step, the team proposes their recommendations, presents an overview of cost impacts, and provides the opportunity to explore all adaptations possible for adding value to the project.
The Advantage Of Value Engineering Consultants
It is necessary for value engineering consultants to have the resources required to conduct specific studies for each project. This means they possess the skills and experience that only come from managing similar projects. Value engineering consultants may be single firms or joint ventures. Either way, they consist of cohesive teams that understand the complexity of getting optimal results while keeping costs to a minimum.
VALUE ENGINEERS CAN:
- Enhance contributions
- Increase involvement
- Reduce operating and product costs
- Use resources more effectively
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