Value engineering is a method for finding solutions to issues as well as for locating and removing unnecessary project costs. Additionally, it can raise the project's level of functionality and quality. By meeting performance requirements of a building at the lowest possible cost, value engineering aims to increase the value of a project.
The idea that value engineering entails sacrificing project quality in order to save money is prevalent in the construction industry, but in fact, the same quality can be achieved using less expensive products. When evaluating value engineering proposals, it is crucial to analyse the availability of materials, construction methods that can be used, any transportation concerns, any site limitations or restrictions, planning and organization, costs, profits, and so on.
Expertise
Value Engineering is crucial for quantity surveyors, and in many ways, this process is the best way for them to show a client their expertise. Cost is rarely, if ever, taken into account when an architect designs a building. They frequently request the priciest goods, figuring that they are the best for the job. They choose these because they are familiar with them or because they are frequently well-marketed products.
A freelance quantity surveyor can offer cost-effective alternatives, such as recommending a different carpet manufacturer or switching from a reinforced strip foundation to a simple concrete trench foundation. These are factors that an architect wouldn't take into account, but which could lower a project's cost for the client without compromising the project's quality.
Value engineering should begin at the project's inception, where the benefits are greatest. By doing this, design costs are kept to a minimum. The preparation of multiple designs to accompany value engineering changes would be avoided if this could be done during the early design stages by architects and structural engineers. Value engineering, however, frequently doesn't surface until the project's post-tender phase, when the client has already expressed their inability to afford it and the tender results have been received. Typically, the lowest tenderer is asked to estimate a bill of reductions created by the client's QS. A bill of reductions involves the client's quality assurance team (QS) identifying items in the bill of quantities to omit, reduce, or change specification in order to reduce project costs without compromising the client's project goals.
Conclusion
So, if you want a cost-effective solution for your construction project contact a consultant quantity surveyor immediately.