A systematic approach to construction is the most basic definition of value engineering. It involves looking at the products that are planned to be used for the project and looking for alternatives to save the client money. Oftentimes, you can get the same result by using alternative materials or opting for an easier building method. Below, we will discuss more about the value engineering process and how it can help improve your commercial project.
Achieving Optimal Results While Saving Money
As contractors, we often plan a project using the highest quality materials and processes that we know will bring optimal results. We know that some products can be expensive, especially in large quantities. By using the techniques in value engineering, we are able to provide you with a stable build, while lowering the risk of going over budget.
Once you get above a certain size, it makes sense to consider tilt-up buildings or using other methods for building. Doing this will give you a variety of different monetary values that can help save you money.
Steps In Value Engineering
While E.K. Bailey doesn’t do the estimating for your project, it is common for architects to over-design a project. While the final product will look visually appealing, the client will end up paying extra for this design if the materials are not evaluated. When it comes to value engineering, the goal is to simplify. Here are some of the steps that contractors, clients, or architects can take to make a project more affordable.
Gather Information
Take a good look at the recommended materials and plans for your project. Gather information about the composition of materials and what they are typically used for. Understanding the product better will help clients compare it to cheaper material options.
Clients can also look at the lifespan of the materials to see if they are worth the investment. Looking at what aspects will provide the most value is what a client should spend money on.
Think Creatively
The engineering team will now go back to the drawing board and think about more creative solutions. Looking at new methods, alternative risks with higher rewards, etc. Brainstorm freely and come up with different ways to get from point A to B.
Evaluate Ideas
With all the ideas on the table, the team should now think about what will provide the most value to the client. If the client wants the building to look modern without the price tag, focusing on modern colors in cheaper products may be the solution. A small change can result in a handful of benefits, but if this change will restrict the company in any way, a better solution should be proposed.
Develop And Analyze
Before choosing the final solution and design, the project timeline should also be considered. Remember that the overall goal of value engineering is to simplify. Consider how the break-even point will affect the product application and the long-term function of the company.
Present Discoveries
Once a design or architecture team has come up with different solutions, present them to the client or contractor. Make sure to focus on the benefits the new solutions will provide to the client. Compare the old methods to the new ones. Share pricing breakdowns.
Implement Changes
Once the client has approved the new solutions, it is time to implement them. Start by purchasing the new materials and focusing on prepping the construction site with simplified solutions.
Function To Cost Ratio
Balancing functionality and price is the most important part of construction. Looking at the detailed breakdown of costs before completing the project will provide the client with a bigger picture. Each different project should meet the cost-benefit thresholds of the client, otherwise, value engineering tactics are somewhat useless.
A workplace or shipping center needs to serve the client you are building it for. Value engineering is here to provide more of a benefit for the workers, customers, and shippers, but only if it is done with functionality in mind. Saving money does not mean cutting corners. There are simple ways to save pennies without compromising the structural integrity.
Construction From E.K. Bailey
E.K. Bailey is one of the leaders in commercial construction because of our long history of quality construction and customer service. We proudly serve the entire state of Utah and a variety of industries including healthcare, retail, auto dealerships, and industrial. Our goal is to ensure that our clients are satisfied with their building and the communication from our team. If you want a long-lasting commercial space, reach out to our contractors today!