Analysing value is a technique for exploring whether additional cost produces additional value, providing a tool for identifying unnecessary cost.
The process proceeds in two steps as below:
- Value management comprises a review of objectives – looking at what is to be done. The outcome of this is an agreed statement of all project objectives (in respect of both the end product and the process by which it will be delivered); and a review of the best ways of meeting those objectives. RPMS conduct this as soon as possible after project inception, but with enough of the background to the site researched to identify relevant constraints.
- Value Engineering will be an ongoing process commencing at Concept Design stage and continuing through to Detailed Design. Working sessions will be held as appropriate to fully understand the scheme and its values, to determine how best to allocate the budget. Between these sessions RPMS monitors design as it develops in line with agreements reached on Value Engineering.