A Value Study attempts to improve the value of a project using value engineering methodology. This is defined by the Value Methodology Standard, published by SAVE International. Typically, a value engineering team meets for 1-3 weeks, during which they work through the "job plan" as outlined by the standard. According to the Value Methodology standard, there are 6 … [Read more...]
In my industry, value engineering is something that's codified in the standard specification book, the one that's tossed into every contract to define the standards for the project. It allows a Contractor to approach the owner/consultant and request design changes. If approved, the savings are shared with the Contractor. I've never seen the clause used, although I can … [Read more...]
