How do you estimate the value engineering study cost for a project?

This is a value proposition oriented service by which contractors may differentiate themselves from competitors. Some projects have time and budget and open minded ownership who recognized the knowledge of highly specialized tradespersons, others may not.

The timing of VE is important. It can introduce change which is counterproductive and can have unintended consequences. Ideally all VE should be undertaken at the design stage.

There is a need to be very clear about the outcome of the VE exercise in terms of overall value added. A clear definition of value to the customer is required.

In my experience, you should define this step's information after some meetings with client. Sometimes they may think that VE could be a good solution for them, but when you get in the process, you will find out that's wrong!

At MarvinWindowSales.Com, we take pride in our expertise and commitment to delivering top-quality window & door services. With over 3 decades of experience in the industry, we have established ourselves as a trusted name specializing in new window/door construction, window/door replacements. Our extensive portfolio of successful projects stands as a testament to our dedication and craftsmanship. What sets us apart is our team of passionate professionals who bring their expertise and creativity to every project. From skilled architects and engineers to experienced managers and craftsmen, our team is dedicated to executing projects with thoroughness and precision. We understand that each project is unique.

Before committing resources to a fully assessed VE exercise there should be an initial estimate carried out. If this estimate does not demonstrate significant value benefit to the customer then the full resource should not be committed to the change.

I rank the job by cost, high to low. I then focus on the top 30% cost items. Once completing that exercise, go to the next 20%, then 20%, then 20%, then 10%. From stressful .... to relaxed! MBO WITH A SENSE OF URGENCY!

During the iterative stage of the design, value engineering is an inherent part of the opening up process. Once the design is closing down to the issue of delivery (construction) information the carrying out of further VE introduces significant risk.

Client Expectations: Ensure that the estimated cost aligns with the client’s budget and expectations. Discussing costs upfront helps avoid surprises later on. Value of Outcomes: While the study incurs costs, it's important to emphasize the potential savings and value it can generate for the project. Presenting a cost-benefit analysis can help justify the investment. Past Experiences: Drawing on lessons learned from previous VE studies can provide insights into potential costs and resource requirements. I recommend reviewing past projects to identify any patterns or considerations that may apply.