Maximizing Budgets with Confidence: Implementation and Benefits of Value Engineering

Value engineering (VE) has become standard practice in various industries because it empowers organizations to maximize budgets and achieve more with less. As a practice, VE affords leaders the opportunity to find smart, cost-effective ways to increase value and overall satisfaction.

In the construction industry, applying VE with a long-term focus ensures a balance between initial costs and ongoing operational budgets. The timing of when VE is used also determines how great the cost savings can be, but timing is just one of several factors affecting the success of VE efforts. Combining the tried-and-true VE methodology with verified construction costs enables you to make informed decisions that get the maximum value out of your budget.

Watch this on demand presentation to learn strategies for maximizing project budgets and taking actionable steps towards a more successful and profitable future.

Learning Objectives:

• Explain the importance of articulating shared expectations and how this contributes to creating positive outcomes.
• Determine where in the project life cycle VE (value engineering) offers the most benefit.
• Explain why leveraging independent, verified cost data helps make informed decisions.
• Apply principles of VE to ease the tension between design aspirations and budget realities.