Value engineering involves analyzing the function of construction systems, equipment and supplies for the purpose of achieving the required function at the lowest overall cost, while still meeting requirements for performance, reliability and maintainability. The basic procedure consists of:
- Identifying and defining a high cost area
- Determining the basic function of the item
- “Brainstorming” the problem to create a list of alternative ways of performing the function
- Selecting the best alternative that will perform the function at least cost
- Presenting a proposal or alternative proposals for the design team approval.
Value engineering services identifies hidden costs, reduces schedule, increases value, and improves teamwork to achieve the customer’s budget.
How Riley Can Help
Participation in the early stages of project provides Riley the opportunity to apply ingenuity and technical know-how to produce a more economical design without sacrificing quality. Riley will conduct a systematic and aggressive value engineering program in conjunction with the design team, clients and project managers, with particular emphasis on areas of high cost and those impacting the construction schedule.