Skip to main content

(PM-1417) Better Utilizing Value Engineering in Project Delivery

Primary Author: Mr Michael D. Dell'Isola PE

Audience Focus: Intermediate
Application Type: Application
Venue: 2013 AACE International Annual Meeting, Washington, DC, USA

Abstract: Value engineering (VE) has tremendous potential to improve the delivery of projects but its use or misuse over the past 50 years has tended to create a negative environment and skepticism. The application of VE needs to adapt and expand to better address today’s projects that often have conflicting issues of cost, sustainability, technology, schedule, risk, collaboration and multiple delivery methods.

This paper will address how to better integrate VE into the project delivery process during planning and design and deliver improved overall value to owners. Key aspects include:
- Achieving better collaboration in a VE setting
- Effectively utilizing life cycle costing
- Using risk management to improve VE functionality
- Avoiding the pitfalls of overly simplistic VE approaches
- How non-economic issues can be better reflected in VE
- How to efficiently integrate VE into the design process

VE also has applications in the construction phase and to business processes associated with the management of overall design/construction delivery process. This paper will focus on the planning and design portion of the delivery process.