Value Engineering involves reviewing materials, products and features that have been designed and specified to determine if there are more economical options that still accomplish the intended function. While anyone can offer the suggestion to reduce scope to cut costs, Value Engineering is more of an art that requires knowledge of the products and availability of materials to draw from. Value means something different to each client. When properly evaluating value versus cost, several things should be considered. Perhaps a certain type of paving is less expensive on the front end, but after factoring in the maintenance required over a period of time it is actually more expensive over the long term. Without understanding costs and performing a life cycle analysis it would be difficult to determine the actual value of this option. Value Engineering in the early stages of the project is advantageous so the owner does not incur additional redesign fees, and lose valuable construction time if an alternate method is selected.
