Value Management
In almost every aspect of our lives, saving time and money is imperative. The goal of value management is to seek ways to improve the quality and efficiency of a project while maintaining the client’s (and architect’s) original vision or intent.
Our staff reviews the available documents with all team members considering: possible high-cost elements, material availability and the purchase of long lead items; constructability; schedule reductions; and logistical improvements. We work with the architect to recommend alternatives that may create cost and time reductions. A value management program can provide significant savings to our clients.
Our staff has the knowledge and experience to recognize potential problems or high cost issues quickly—and provide effective, satisfactory solutions. Recommended suggestions may range from the purchase of a different type of stone or light fixture to fast-track scheduling to bring Day-One occupancy closer.
Value management is a process that follows analytical steps that include:
listing, prioritizing and selecting elements of the project to be included in the process establishing preliminary values against which the costs for alternate solutions are based breaking down alternatives to the critical parts that need analysis and evaluation developing the costs for each component, assembling the total cost per alternative and listing them with the function they must satisfy developing a comparative analysis of all alternatives, including input on the aesthetic intent and additional maintenance factors, as applicable preparing the necessary documentation for incorporation into the construction documents upon owner and architect acceptance
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Matt Hopkins, director of architecture, StreetSense |
