Author : Rahul Nagalkar & Ann Jamison
Description : The classic Value Engineering (VE) study assessing conceptual and preliminary design phases of a project offers significant value in impacting the engineering design of a project. However, on large infrastructure projects the effectiveness of VE beyond the 30% design phase begins to wane as many of the key project elements are already worked through with community stakeholders and jurisdictions making them difficult to modify. The value of a VE workshop at 60% or 90% level of design is greatly enhanced by shifting the subject matter expertise focus to the actual construction of the project. Construction focused VE’s at the later stages can be very effective in supporting the development of well thought out cost estimates, schedules, contract specifications, and ensuring a solid set of bid documents. The benefits can include reduced change orders during construction, improved risk mitigation/risk management, improved bids and better stakeholder interface and improved follow through on stakeholder commitments.