Value Engineering | Quantity Surveyor – Donegal

What is Value Engineering…

Value engineering (VE) is a systematic, organized approach to providing necessary functions in a project at the lowest cost.
Value engineering promotes the substitution of materials and methods with less expensive alternatives, without sacrificing functionality. It is focused solely on the functions of various components and materials, rather than their physical attributes.

Value engineering is a systematic and organized approach to providing the necessary functions in a project at the lowest cost.
Value engineering promotes the substitution of materials and methods with less expensive alternatives, without sacrificing functionality.
It is focused solely on the functions of various components and materials, rather than their physical attributes.

Value engineering is the review of new or existing products during the design phase to reduce costs and increase functionality to increase the value of the product. The value of an item is defined as the most cost-effective way of producing an item without taking away from its purpose. Therefore, reducing costs at the expense of quality is simply a cost-cutting strategy.
The concept of value engineering evolved in the 1940s at General Electric, during World War II. Due to the war, purchase engineer Lawrence Miles and others sought substitutes for materials and components since there was a chronic shortage of them. These substitutes were often found to reduce costs and provided equal or better performance.