Value engineering
A phased set of cost-control procedures that strive to optimize the value of a project by researching, evaluating, developing, and presenting lower-cost alternatives without compromising the function, performance, quality, or reliability of the finished asset.
Value engineering is a systematic method to improve the value of a project by analyzing its functions and seeking cost-effective alternatives. It involves evaluating design choices, materials, and construction methods to enhance performance, reduce costs, and maintain or improve quality and functionality.
Used in a sentence
Value engineering seeks to optimize project value by improving functionality and reducing costs.
Synonyms/variation
VE
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