Going over budget is one of the most common concerns of anyone who’s building a new structure or remodeling an existing space. Extra costs during the construction process can derail projects or force customers to make tough choices.
Scott Build has a track record of being on time and in budget on every project we’ve completed. Why can Scott stick to budget when so many other builders fail to do so? Value engineering.
What Is Value Engineering?
Value engineering is a process Scott uses during the design and preconstruction phase of your project to optimize the value of every element, from site selection and materials to subcontractors. The end goal of our value engineering efforts is to provide you with the best value for the lowest cost.
Some people think value engineering is just another term for cost cutting. But cost cutting is what happens as the result of poor planning. It’s finding the lowest-cost products and services without regard for your short-term or long-term investment.
Value engineering is an integral part of estimating a project’s true cost. It helps us determine what will save you the most money over time without sacrificing quality or safety. The sooner we implement value engineering, the more money we’ll save you on your project. That’s why value engineering is step four of our nine-step preconstruction phase of your project.
Applying Value Engineering to Your Construction Project
Scott Build uses value engineering to optimize every element of your construction project. Once we’ve worked with you to create and approve a design for your building or space, we’ll analyze every part of that design to optimize materials, contractors, and work schedules. Our value engineering process may uncover more cost-effective materials that don’t sacrifice quality or safety or alternative subcontractors who can work within your timeline.
After we complete the process, Scott will present you with a lifecycle cost analysis of your project. In addition to the initial costs of construction, this analysis includes our estimate of costs you’ll incur in the long term, including routine maintenance and repairs as your building ages.
In other words, instead of a low-ball estimate for the initial construction work, you’ll have a very clear idea of what your building will cost you in the short and long term. Our estimate represents what it will cost you to finish your project, not start it.
Few commercial contractors take the time to apply value engineering to their projects, which is why many projects go over budget and over schedule. But with Scott, you’ll know your project will be in budget and on time, with a very clear understanding of what your actual investment in your building will be. Value engineering is part of what makes us the Master Builder.
Wondering what the true cost of your new building or space will be? Contact the Scott Build team today to get started on the preconstruction phase of your project.