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How to Add Value to Your Cost Estimates with Value Engineering

December 12, 2017

For today's estimators, value engineering shouldn't just be a requirement- it should be a priority.

With the inevitable scope creep that often happens in construction and building projects, value engineering continues to make more and more sense. Maybe you're already practicing this approach and don't even know it; or maybe you think you're doing it, but you're actually not.

Before we get started, let's take a look at the history of value engineering and how it still applies today.

• The history of value engineering
• What value engineering is and is not
• Common misconceptions about value engineering
• Approach and the three stages of good value engineering
• Why you should care
• Take-home tips for adding value to your estimates

Either way, in this guide, you'll learn:

During World War II, value engineering was first introduced in the manufacturing industry by General Electric. In the beginning, they actually called it "value analysis" because of the shortage of supplies, skilled labor, parts, and materials during the war. Interestingly enough, this time of scarcity allowed the AEC industry to apply value engineering methods to a variety of projects. This eventually grew into a highly efficient and valuable process that is still practiced today.

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