A new look at value engineering

 Allowing your expert material supplier to direct you as to how to get as close to that optimal price point as possible is value engineering—emphasis on “value.”

The term “value engineering” has become a buzz phrase common throughout the construction industry—but one that is often misinterpreted. The key to really understanding its power is to think about value as either getting the same thing at a lower cost or spending the same but getting more. In this respect, layout can drive how much you get for what you spend. Every material and construction project has an optimum price point based on the scope of work and the parameters that you're constructing it to. Allowing your expert material supplier to direct you as to how to get as close to that optimal price point as possible is value engineering—emphasis on “value.”

Most people, if they had to define value engineering as one word, would likely choose “what do computer engineers do.” That, however, would be missing the mark. The basic misconception tied to value engineering is thinking that the term simply means to take a set of parameters, none of which will change, and do the best design based on those static parameters. The truth is, it’s not about just finding the lightest, least expensive way to make something. That is just efficient engineering. It's not value engineering.