Value engineering is the process of monitoring building and manufacturing processes and finding alternative materials and solutions which can reduce costs, improve the product or both.
At Arctica we use value engineering to solve problems and identify and eliminate unwanted costs while improving the function and quality of your processes or infrastructure. Our aim is to increase the value of your products, satisfying performance requirements at the lowest possible cost. In construction, this involves considering the availability of materials, construction methods, transportation issues, site limitations or restrictions, planning and organisation, costs, profits and so on. Benefits that can be delivered include a reduction in life cycle costs, improvement in quality and reduction of environmental impacts.
Value engineering should start at project inception where the benefits can be greatest. However, the contractor may also have a significant contribution to make as long as the changes required to the contract do not affect the timescales, completion dates or incur additional costs that outweigh the savings on offer.
Value engineering and analysis involves:
- Identifying the main elements of a product, service or project.
- Analysing the functions of those elements.
- Developing alternative solutions for delivering those functions.
- Assessing the alternative solutions.
- Allocating costs to the alternative solutions.
- Developing in more detail the alternatives with the highest likelihood of success.
Value engineering involves most of the project team as the project develops.
At Arctica we believe that the key is to keep in mind the relationship between cost and value – value is function divided by cost. Concentration on the function of the project or product will avoid mere cost cutting.
In order to achieve the best results we:
- Get all available costs.
- Use information from the best source.
- Are creative.
- Identify and overcome ‘road blocks’.
- Price key tolerances.
- Use standard products.
- Use specialist processes.
Our project managers are pro-active in giving direction and leadership in the value engineering process. Your project is in safe hands because they ensure that time and effort is not wasted and that the progress of the project is not delayed.
For further details of our value engineering services call us on 01780 482200.