Value Engineering is an essential part of cost budgeting a Construction Project during the design process. It analyses the construction costs of a project to establish if amendments to the design can positively influence the likely cost outcome to the benefit of the Client.
Examples of areas that would be examined are
We would also look at the structural design to see if it is the most economical solution. For example, the cost of a steel framed building can vary considerably from that of a concrete framed building. This can vary from time to time depending on the price of steel. As steel is a global commodity its price can fluctuate from time to time depending on world demand for steel. Considerable savings can be generated if a concrete framed building is changed to steel frame in a time of low steel prices and vice versa during a period where steel prices are high.
Examples of areas that would be examined are
- Volume of circulation area against useable area (ensure maximum rentable floor area thus optimising rental yield)
- Economics of the Building layout ( to ensure economical construction)
- Building aspect in relation to site layout/shape ( Minimise External Services runs , Access Roadways etc)
- Glazing Area
- Quality and cost of Finishes
We would also look at the structural design to see if it is the most economical solution. For example, the cost of a steel framed building can vary considerably from that of a concrete framed building. This can vary from time to time depending on the price of steel. As steel is a global commodity its price can fluctuate from time to time depending on world demand for steel. Considerable savings can be generated if a concrete framed building is changed to steel frame in a time of low steel prices and vice versa during a period where steel prices are high.
