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The Importance of Value Engineering

AutoCAD ServicesThe process of enhancing the value of goods, products or services by examining functions is considered value engineering. Used today to improve practices and management, this type of engineering was used first during World War II. Starting out in military construction, it quickly spread to other fields and industries.

According to gsa.gov, “Value engineering can be defined as an organized effort directed at analyzing designed building features, systems, equipment, and material selections for the purpose of achieving essential functions at the lowest life cycle cost consistent with required performance, quality, reliability, and safety.”

Value engineering can be taught within industrial engineering or project management. It’s a form of engineering that offers a mixture of optimal costs and performances within any system output. It can identify and remove any type of unwanted expenses as well as increase value for customers and manufacturers, alike.

Value engineering applies strategic improvement of quality, planning, management, manufacturing and construction. The benefits of implementing value engineering include the following:

  • Works well because of its specific methodology
  • Offers multidisciplinary
  • Is function based

Using value engineering in your particular industry can offer the following, as well:

  • Use resources more effectively
  • Increase employee involvement
  • Enhance employee contributions
  • Reduce operating and product costs

In addition to other fields and industries, value engineering is important to the government. The website gsa.gov states that value engineering is beneficial to the government sector because, “In the design phase of federal building development, properly applied value engineering considers alternative design solutions to optimize the expected cost/worth ratio of projects at completion. Value engineering elicits ideas on ways of maintaining or enhancing results while reducing life cycle costs. In the construction phase, GSA PBS contractors are encouraged through shared savings to draw on their special ‘know-how’ to propose changes that cut costs while maintaining or enhancing quality, value, and functional performance.”

  • Better work scope
  • Decrease costs
  • Decrease waste
  • Offer direction to team members in order to complete projects in a timely and organized manner
  • Expand consensus
  • Help keep costs within set budgeting

We hope this information helps you better understand value engineering. If you have any questions about this or any other type of engineering and the services we offer, feel free to contact us, anytime.

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