Value engineering basically means a systematic and organized approach to provide the necessary functions of a project at the lowest cost.
The concept of value engineering evolved in the 1940s at General Electric, in the midst of World War II. Since there was a shortage of materials and components during the war, GE sought substitutes that reduced costs and offered comparable or improved performance.
Value engineering involves:
- Identifying the main elements of a product, service, or project.
- Analyzing the functions of those elements.
- Developing alternative solutions for delivering those functions.
- Assessing the alternative solutions.
- Allocating costs to the alternative solutions.
- Developing in more detail the alternatives with the highest likelihood of success.
The best results are achieved by a multi-disciplined team with experience and expertise relevant to the project being studied.
At Abbot Building Restoration, we utilize a multi-disciplined team to bring you the best service for all of your masonry restoration needs. Contact Abbot today at 617-445- 0274 or via email at firstname.lastname@example.org.