The primary objective of Value Engineering (VE) in construction is to:
Choose the correct answer
Reduce material quality standards to achieve lowest initial cost
Achieve required function at the lowest life-cycle cost without sacrificing required quality
Increase project duration to reduce peak resource requirements
Add additional features to increase the market value of the structure
Correct Answer
B. Achieve required function at the lowest life-cycle cost without sacrificing required quality
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Value = Function/Cost. VE systematically reviews each element asking: 'What does it do? What does it cost? What else could do the same?' It targets unnecessary cost without reducing needed function. Examples: substituting pre-cast for in-situ concrete, redesigning beam shapes, optimising foundation type. Target: same performance, lower cost.
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