What Is Value Engineering in Construction?

March 6, 2024

The construction industry is always looking for ways to reduce costs without compromising quality. One way to do this is by utilizing value engineering (VE). VE is a method of finding cost savings and functional improvements on construction projects. It can be used at any point during the project but is most effective when applied early on in the design process.

During the planning phase, the VE team will gather information about the project and its goals to determine potential areas of improvement. Using a combination of information gathering techniques, FAST (Function Analysis Systems Technique), and expert judgement, the team will identify opportunities for improvement. These areas will then be the focus of the VE team going forward.

Once the team has identified opportunities for improvement, they will create and compare alternatives to find the best solution. This will typically involve examining different materials, construction methods, or designs. However, it can also involve assessing different long-term cost benefits such as maintenance, upkeep, or energy efficiency.

Once the VE team has developed a set of options, they will present them to the project stakeholders and decision-makers for review and approval. This will usually be done during the design stage but can be done throughout construction as well, especially in response to changes in supply chains, unforeseen material prices, or other unexpected challenges.

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