What Is Value Engineering?

December 23, 2021 6:09 pm Published by Leave your thoughts

As the name suggests, value engineering adds value to your goods and services. It is an organized approach that can reduce the cost of projects while maintaining top quality and functionality. Quality value engineering is an important aspect of metal fabrication for achieving optimal results.

The focus of value engineering in construction is on the function of the materials and components. It looks at the functions to determine how to improve the value of each one. Also referred to as value analysis, this process analyzes each aspect of the product by creating a ratio of function to cost. It looks for ways to substitute alternate materials or methods to improve that ratio.

What are the benefits of value engineering?

You may wonder why fabricators would focus on quality value engineering. This process offers multiple benefits. Value engineering in construction provides the following advantages:

  • Eliminates waste: Quality value engineering uses value-added analysis to strip a service or product down to the essentials. It examines each aspect of the service or product to determine what value, if any, that component adds. If it is not found valuable, it is reduced or eliminated.
  • Reduces costs: By eliminating unnecessary or wasteful aspects of a product or service, value engineering in construction reduces the cost of those offerings. Resources are no longer being diverted to things that are not providing good ROI.
  • Improves customer satisfaction: Quality value engineering focuses on the customer’s point of view. By using value engineering in construction, fabricators help customers create something that is truly valuable and accurately meets their needs, without waste. This results in happy customers and repeat business.
  • Offers diverse applications: Quality value engineering can be applied to a full range of manufacturing processes. It is a good system to apply to products in various industries as well as service offerings in any field. The basic principles of value engineering in construction easily transfer to other applications.

Does quality value engineering always cut costs?

Not necessarily. The ultimate goal of value engineering in construction is to improve the value of a product or service. While the aim is low cost and high value, this may not always translate to a reduction in costs.

The goal instead is to optimize each element involved so you get the best value out of each component. All factors must be considered, such as aesthetics, maintenance, durability and cost.

Who offers quality value engineering?

For the best quality value engineering, partner with a fabricator that is established in the industry. Look for experts who handle all aspects of project design and execution. Ask about their value engineering and how they handle this process to determine if they are the right vendor to meet your needs.

We know value engineering

At Benchmark Fabricated Steel, we offer a full range of services and products for commercial, business and corporate projects. We’ve been serving satisfied customers since 1971. Our experts apply extensive knowledge and use the highest quality equipment to deliver high-value results, every time. Contact us today at 812-238-2691 to get started.

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