Condense Project Schedules & Reduce Costs With Value Engineering by Thompson Builders
Providing Ultimate Value on Large Commercial Projects For 30+ Years
Value engineering is a systematic process that helps construction teams tighten timelines & reduce costs on large-scale commercial construction projects. During the pre-construction phase of your project, Thompson can analyze your project plans and propose alternative design solutions to reduce the project’s costs without compromising the overall quality of your finished project, ensuring that you receive the maximum value for every dollar spent.
Here are the five major factors to consider by the project team to engineer the highest value for the project:
- Cost
- Function
- Performance
- Quality
- Safety
The Value Engineering Process
Each firm has its own proprietary process, but in general, value engineering includes the following steps:
- Information gathering & research
- Review and analysis of project documents
- Meeting of the major disciplines to generate and evaluate ideas about how to best achieve the goals of the project owner
- Develop a comprehensive plan, highlighting the best alternatives for adding value and/or reducing costs
- Present the plan and proposed alternatives to the project’s decision makers
Value Engineering Benefits
The benefits of this process include:
- Reduced costs
- Fewer project delays
- Improved quality
- Less waste – time, money, labor, materials
- Simplified processes
- Less paperwork
- Increased efficiency (procedural and resource)