At the end of the day, any business owner hopes for just the right mix of quality and value when constructing and eventually opening a new business. It can be a bit like searching for the holy grail, but it can and is achieved regularly across the United States.
One time-tested technique used to cut costs without sacrificing quality is by using value engineering. This has been around since before the beginning of World War II, but if it ain’t broke, don’t fix it, right?
Let’s take a look at the concept of value engineering and how it can be used in commercial construction projects to provide the greatest bang for the buck for the client.
To get the most from a solid value engineering plan, it should be integrated into the project from the very beginning. Before ground is even broken and long before the first nail is hammered into place, value engineering should be considered and a plan created with the input and consent of the client.
So what are the benefits of a well thought out and implemented value engineering plan? Let’s take a look at the most important and beneficial advantages of value engineering, particularly as it relates to delivering quality and value to the end-line customer.
Value Engineering Reduces Costs
When all is said and done, companies are in business to make money. It all comes down to the almighty dollar and how many of them you can make as a business owner.
A quality value engineering plan keeps costs in mind at all times, so having one in place can be extremely beneficial to you and your business.
Value engineering ensures that the budget you have for your project is a smart and efficient one, with any extra funds reallocated to other areas or returned to you at the end of the project.
If done properly, this will be completed without any cuts in the design and/or functionality of the commercial building project.
Value Engineering Improves Quality
Especially during the early stages of a new commercial project, contractors and builders will conduct an analysis and develop ways of improving on the project.
This process allows companies to compare materials and methods in order to maximize funding and deliver results that are focused on quality and value for the client
Shop around and see if you can save a few bucks here and there. But don’t be too thrifty or it’s going to be noticed by your patients.
Value Engineering Reduces Waste
When reducing waste is discussed, it generally refers to materials and how to maximize your inventory for the best results.
But value engineering also focuses on reducing the waste of time, money and labor costs, in addition to materials.
With a clear overview and plan in place, redundancies and waste can be greatly reduced with all project costs clearly accounted for.
Value Engineering Reduces Project Delays
There is perhaps nothing more frustrating for a business owner than time delays during a building project. The longer the construction takes, the more money is being lost in terms of project costs and business revenue.
Delays are sometimes unavoidable, but they can at least be reduced via solid value engineering plans.
Quality construction firms can consider alternative methods or materials to get projects back on track and keep clients happy and satisfied.
All of this keeps projects on time and on budget.