VE

Value Engineering: The Structured Process for Finding Cost Reductions Without Sacrificing Function

Value engineering (VE) is the systematic analysis of building systems, materials, and methods to identify alternatives that reduce cost while maintaining or improving function. Done well, VE captures substantial savings without compromising the project; done as cost-cutting exercises labeled VE, it produces projects that technically meet spec but have long-term issues. Understanding the difference is essential for GCs proposing VE and owners evaluating it.