Value Management (VM) is the process of delivering value throughout the project lifecycle. Through early interventions such as objective setting and option appraisal, we assist our clients in understanding the drivers for their project and identifying ways in which value can be optimised. Value Engineering (VE) is about achieving the best value design in line with those strategic objectives.
As the markets we operate in evolve, one common theme is becoming evident, more and more of our clients are requesting VM and VE smarts and innovations as a bolt on to our tender submissions. This approach is generating an upward pressure with tender costs as more input is required from other disciplines not always necessarily associated with the tender and work winning processes.
Equally the skill sets required to develop these innovations are maturing. Innovations put to our clients require stringent validation to ensure they are feasible, often based on designs that have not been fully developed. It is no longer palatable to offer innovations that generate cost savings or time efficiencies that do not come to fruition.
We often experience these challenges particularly when we look to innovate based on incomplete designs. Often these incomplete/resolved designs in themselves present challenges on how the design is meant to work even before we consider VM or VE the design solution.
With a long history of developing innovative approaches to delivery of construction projects we are well placed to continue to deliver this approach into the future, More than ever the value of this skill is proving to be a differentiator and a minimum requirement for successful work winning and delivery.
For us, it’s part of our delivery, it’s how we do business.