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What is Value Engineering?

 

Value engineering is the process of adjusting the plans for a project in order to bring down the cost and meet a budget. This can be done by making the project smaller or less fancy.

 

In the construction industry, value engineering is typically done when a contractor quotes a project and it comes back much higher than the budget allows. In order to fix this, the first step in value engineering is to see if the project can be made smaller, or if there are areas that can be scaled back. This is because almost all subcontractors and contractors charge by the linear foot or by the square foot, so the size of the project directly affects the material and installation prices.

 

In more advanced or complicated projects, value engineering may also involve removing load-bearing walls or adding windows. However, this can be costly as it may require a steel beam to be added to support the weight of the structure. Therefore, value engineering in these cases may involve reducing the number of windows or reworking their positioning to reduce the need for a steel beam.

 

Value engineering can also involve looking at the materials used in the project and finding ways to use cheaper alternatives without sacrificing quality. For example, instead of using high-end finishes, a less expensive alternative may be used that still looks good and meets the project’s design requirements.

 

However, it’s important to note that value engineering is not always possible and in some cases, certain steps must be taken in order to achieve the desired end result. On smaller projects, value engineering may not be feasible as there may not be room to make cuts without sacrificing key design features.

 

It’s also important to keep in mind that value engineering can take away some of the reasons why the project was undertaken in the first place. Therefore, it’s important to strike a balance between cutting costs and preserving the key design elements that are important to the project.

 

In conclusion, value engineering is a valuable process for bringing down the cost of a project and meeting a budget. However, it’s not always possible and it’s important to strike a balance between cost-saving measures and preserving the key design elements of the project. It’s also important to keep in mind that value engineering can take away some of the reasons why the project was undertaken in the first place.

 

Apollo Nava