Value Management 

Axias also has substantial value engineering experience, having participated in dozens of studies over the years. We have a deep understanding of the cost drivers of projects and can quickly pinpoint prime areas for further analysis for higher-value solutions. Value management and value engineering are techniques concerned with defining, maximizing, and achieving “value for money.”

At the start of a project, a team approach to value management provides a powerful tool to explore objectives and aspirations from the owner’s perspective. Contrary to popular belief, it is not necessarily about cost-cutting. For example, it may be in an owner’s best interest to pay a little more upfront for a better and more efficient system and thus be in a position to save on longer-term operations and maintenance costs over time.

Value engineering is a systematic approach to confirming that specific functions are satisfied with the required standard for the least cost. It assesses a range of possible solutions against values stipulated by the owner.

A typical team includes the designer of record; a certified value specialist to facilitate the meeting, discussion, or workshop; an uninvolved design team brought in as third-party reviewers; and the cost estimator. The team works collaboratively and intensively over a period of two to five days, depending on the project size and/or complexity, with the outcome being a value engineering report. The report, which includes a host of possible items, is submitted to the owner in draft and final form and becomes the basis for making informed, value-based decisions.