CRHI views Value Engineering as an organised application of common sense and technical knowledge directed at finding and eliminating unnecessary costs in a project. All Value Engineering studies follow the Value Engineering Methodology / Job Plan (see below). VE uses creative thinking to develop innovative ideas and emphasises improving project quality, eliminating unnecessary cost and reducing overall life-cycle cost.
Our approach to VE has the following phases:
- Phase 1 – Selection
Identify candidate projects for Value Engineering study, and select specific projects to achieve maximum value, quality improvements, energy savings and other benefits, such as a shorter construction schedule. Also, an important part of this phase is the selection of Value Engineering team members.
- Phase 2 – Investigation
This is where the value study team first becomes involved. The team determines what they know about the project from readily available information and what they must know in order to really define and / or solve the problem. The Investigation Phase immediately brings the three fundamental concepts of VE (function, cost, and worth) to bear on the problem.
Most of the information required in this phase is readily available. The length of the project, its cost estimate, traffic projections, design speeds, and the major elements designed into the project can be easily identified from a review of the plans and other documentation. Sometimes the VE team must dig harder for other information to adequately complete the investigation phase.