Simply put, value management ensures you get your money’s worth on a construction project. It is also called value analysis, value engineering, or value planning. At Speedway Constructors we use it to analyze the parts of a project: equipment, facilities, systems, services, and supplies. We do this in order to get rid of unnecessary costs while maintaining the quality, performance, safety, and reliability that our clients expect and that we put into every project.
Speedway Constructors analyzes all parts of the whole – not to come up with the cheapest costs, but to ensure the best value for the money. There is a difference. We believe improving quality and reducing costs are the benefits of value management. There are other benefits, too. Clear objectives, reduced changes during construction, and improved communication for all parties involved. We always meet the objectives of the client and deliver a project within the agreed-upon parameters.
Speedway Constructors uses value management to direct our team to come up with alternative solutions when possible to improve the project as a whole, increase the quality, stay on schedule, and come in on budget.
Value Management Process
Value management is one of the many tools we use at Speedway Constructors. Our team of experienced construction professionals will do everything possible to ensure our clients are getting the highest value for the least money. Your project is in exceedingly competent hands with Speedway Constructors.
The value management process is broken down into phases:
Information Phase – the team presents an overview of the various systems, plus the project and its requirements.
Function Analysis Phase – identify functions as basic or secondary. This is where the Functional Analysis System Technique (FAST) diagram comes in. Functions are examined and analyzed to show why and how something is done.
Creative Phase – pedestrian and vehicular traffic patterns
Evaluation Phase – evaluate the potential alternatives presented in the creative phase.
Development Phase – prepare the best alternatives for improving project value.
Presentation Phase – present the agreed-upon alternative ideas for approval.
Post Study – approved ideas are distributed for final review and approval.
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