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VALUE ENGINEERING
BMG brings years of diverse construction experience and knowledge of the latest industry standards to the value engineering process, utilising an interactive approach and knowledge-sharing between the owner, designer and builder.
The greatest return from a value engineering exercise is during the concept design development stage prior to proceeding into the detailed design stage. When value engineering occurs later it simply becomes a cost cutting exercise that is generally then undertaken in a hostile environment that prevents it from achieving the desired objectives.
Value engineering typically goes through the following stages;
1. Information Gathering2. Speculation and/or Brainstorming3. Evaluation4. Development5. Review and Validation6. Presentation7. Implementation
Value engineering should not be assumed to be what good planners and designers do as a matter of routine; it is in fact not part of the typical design development process. A value engineering exercise is more rigorous than the typical project review - it should seek to bring together an impartial team of professionals with the common purpose of improving the project design and constructability.
Similarly, a value engineering exercise is not a cost cutting approach. In a proper value engineering exercise, cost cutting is achieved by making a design more efficient without reducing essential performance, reliability, or maintainability. Conversely, traditional cost cutting exercises will focus on material substitutions, and reducing or eliminating specific elements. This approach frequently results in reduced quality or performance.
Performing a value engineering exercise is also not the same as a typical quality assurance review. The quality assurance review will answer questions such as: does the design meet code and standards requirements? The value engineering exercise will answer questions such as: what else will achieve the same function for a lower cost?
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