Important to any business endeavor is achieving a balance of value and cost. This is especially important in construction. In order to free budget dollars to maximize their use, 365 Construction employs a process called “Value Engineering” or VE. This process takes two general forms:
In a design-build program where 365 is involved in a project during the design process, a constant review of project needs and available funds is undertaken. This starts with coordination meetings with the client’s project team to assess design and budgeting concerns. From these meetings 365 is able to tailor a design approach, including architectural details and product selections, most suited to our client’s needs and desires. Upon completion of the budgeting process, additional meetings are held to assess the value equation. If budgeting challenges are presented, additional meetings are held to assess the value equations. The budgeting challenges are identified, 365 zeros in on areas where savings can be realized. Then through 365’s experience and that of our subcontractors, concrete alternatives are formulated and presented to the project team for review.
In cases where a separate design team is involved, the value engineering process undertaken in an identical manner, but is generally limited to the identification of product and material options. As in the design-build program, 365 brings all contractors and subcontractors into the process. Each is asked for ideas about design or product selection changes that might render savings to the project. These ideas are then reviewed with the project team to determine those ideas worth pursuing. The items are then listed and prioritized. Budget impacts are then determined for each item. The design team is then brought back together to review and select the items deeded worthy of incorporation into the project. Significant progress can be made when 365 and its subcontractors are charged with the development of budget savings through this process.
In extreme cases 365 must be given complete design control. This has happened on a number of occasions and in each case 365 has succeeded in bringing the project within budget, while delivering a product that completely satisfies the needs of our client.