Thursday, February 23, 2017
Value Engineering in Building Design and Construction
A knowledgeable real estate professional, Alex Getelman serves as the founder of Milestone Building Ventures in New York. In his work at the consulting firm, Alex Getelman keeps current with best construction practices and implements value engineering to get the highest returns from new projects.
Value engineering involves identifying unnecessary expenses while improving overall quality. In the construction industry, this requires looking at material availability, construction methods, site limitations, and more to identify cost-saving measures that will not jeopardize quality.
The process of value engineering starts with identifying the key elements of a given construction project and analyzing the function of these elements. Next, professionals look for alternatives that deliver the same functions at a lower cost. Typically, they identify a wide range of solutions and slowly narrow them down to the one that has the ideal balance of value and quality.
The benefits of value engineering are greatest when it is implemented from the very start of a project. However, contractors may have input, so it is important to remain flexible.