Value engineering in your project

Leadership often asks the project team to produce savings once the project is underway. Value engineering, finding savings and making changes are part of a facility manager’s responsibility to ensure that the project reflects the current market circumstances and isn’t operating outside or differently to the rest of the business.

Value engineering is a systematic method to improve the ‘value’ of goods or products and services. Value can be controlled by either improving the function or reducing the cost. Project teams are often asked to continue to improve on spend by reducing costs where they can. Often the design starts out with everything incorporated from the ‘must haves’ of leadership and employees, but then unknown things can occur and cause a blowout in a project budget – and that immediately puts pressure on the project and project team to find savings.