Is Your Project Over Budget? What You Need to Know About Value Engineering.
Is Your Project Over Budget? What You Need to Know About Value Engineering. Value Engineering is NOT Cost Cutting. If your team is only focused on stripping features or swapping quality materials for cheaper ones, you're not doing VE—you're gambling with the asset's lifecycle. Here’s the critical distinction every Owner and Project Manager needs to understand before they panic. Value Engineering focuses on optimizing the overall value of a project by improving functionality and reducing costs without sacrificing quality. Here's how Value Engineering is typically applied in commercial retail design and construction projects: Value Engineering Project Example: A relevant example is the George R. Sweeney (Beaver Run) Water Treatment Plant project outside of Pittsburgh, PA. We performed a construction management agency contract for this project with the Westmoreland County Water Department. This was a $25 million, 25 MGD (million gallons per day) plant. The Pennve...