What is Value Engineering?
Value engineering is a team approach to fulfil the requirements of an industrial project. Value engineering means finding alternates, optimising the project.
Value engineering includes validating the costs, identifying and eliminating excess spending on the project. It, however, doesn't change the things that add quality, appearance and functional requirements to the project.
The best way to practise value engineering is to be involved from the start of the project and continue as the project progresses. Their involvement helps a structured thought process, and the team develops rational reasoning for every step.
Value engineering helps in bringing savings in terms of cost, space and time when the unit is involved from the concept stage itself.
Is Value Engineering different from quantity surveys?
The two terms are very different. A quantity survey involves preparing the bill of quantities for the project.
Value engineering looks at removing things that are not needed. It is an extensive process of optimising and finding methods to minimise maintenance costs etc. After value engineering is done, the project is optimal.
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