Value Engineering

A structured technique commonly used in project management to optimize the overall value of the project. Often, creative strategies will be employed in an attempt to achieve the lowest life-cycle cost available for the project. The VE effort is a planned, detailed review/evaluation of a project to identify alternative approaches to providing the needed assets.

Value engineering is a proven management technique using a systemized approach to seek out the best functional balance between the cost, reliability, and performance of a product or project.