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Value Engineering (VE) is a systematic, functional, and creative analysis of a construction requirement to achieve the best functional combination of cost, reliability, and performance, over the life-cycle of products, systems, equipment, facilities, services, and supplies. VE is performed by a tam of experience multi-disciplinary professionals and subject specialists, whose discipline and expertise match that required by the construction project. VE is usually performed by the Design Review A-E. The VE Workshop occurs at the 35% Design Stage or earlier. This process includes the following five phases:
- Information Phase – The team gathers information about the program requirements, project design, background, constraints, and projected construction costs. The team performs functional analysis of systems and sub-systems to identify high cost areas.
- Speculative/Creative Phase – The team identifies alternatives for accomplishing the function of a system or sub-system.
- Evaluation/Analytical Phase – The team evaluates alternatives to determine those with the greatest potential for cost savings and project enhancement.
- Development/Recommendation Phase – The team researches the selected alternatives and ideas and prepares descriptions, sketches and life cycle cost estimates to support VE recommendations/proposals.
- Report Phase – The team presents VE recommendations to the Government and Design A-E orally and in writing at the conclusion of the VE workshop.
For additional information on value engineering and design charetts, please refer to the following publication: