What Is Value Engineering?
Value engineering isn’t a new concept. The methodology behind it developed during World War II as a supply shortage forced companies to substitute materials to continue making their products. What people discovered is that those substitutions maintained or improved the quality of their product while reducing the cost to make it.
In commercial construction, value engineering means analyzing the costs related to production, materials, maintenance, and replacement of each facet of a building and selecting the most cost-effective materials and means for a project without sacrificing quality, performance, or appearance.
Construction firms that use value engineering well are also able to substitute materials or procedures in order to reduce cost, but that substitution does not affect the quality or functionality of the design or building.
Performing these analyzes can be complicated, but STR Constructors has your back and breaks down some of the biggest elements in value engineering.
Good construction firms who specialize in value engineering do their research and find the best quality construction materials within a range of affordable prices. When new products go on the market, from structural steel to siding materials to concrete, those items are studied to ensure their function and performance align to their cost.
Along with functionality, a good firm analyzes the cost to worth ratio and longevity of materials. A product that seems more expensive initially but lasts longer over time saves money for the building owner throughout the building’s life cycle.
Working with the right people matters. The ability to install materials in efficient and cost effective ways is equally as important to value engineering as the materials themselves.
Value engineering relies on an army of highly skilled and knowledgeable contractors, subcontractors, vendors, and trades people who not only provide valuable information about materials but also bring specialized methods and practices to construction projects that save time, money, and resources.
Most value analysis occurs during the planning phase of construction projects, where evaluations can be scaled up or down and number manipulating doesn’t interfere with the build. However, in practice, on-site changes can occur.
If purchasing options change or when subcontractors suggest substituting materials or methods that are practical and cost reducing, a good general contractor weighs these options and ensures that the substitutions maintain or improve the quality, functionality, and look of the design and building.
Build With Value Engineering With STR Constructors
From hotels and retail buildings to restaurants and commercial remodeling, any construction project can utilize value engineering when you work with STR Constructors!
See how your design plans can be transformed into the space you imagined on time and on budget by calling us at 512-515-0254 or contact us online.