Value Engineering is the systematic process of review and analysis of a project during its design/project development phase to provide recommendations to improve value while addressing the projects purpose and need.The purpose of the program is to assure the public receives the best value for every tax dollar invested in their transportation system. A Value Engineering review is made by a multidisciplinary team who:
- investigate/analyze the planning, design and constructability of a project
- identify project functions and their costs, and performance measures
- creatively speculate on alternate ways to perform the various functions
- evaluate the best value and/or least life-cycle cost alternatives
- develop acceptable alternatives into supported recommendations
- present the team’s recommendations to the decision makers
Value Engineering can be used during planning, conceptual study, design, construction and operation/maintenance phases of a project. Value Engineering is a proven management tool with over 50 years of successful experience around the world. Value Engineering is not a design review focuses solely on cost reduction; it is finding a second right answer!