Value engineering
A phased set of cost-control procedures that strive to optimize the value of a project by researching, evaluating, developing, and presenting lower-cost alternatives without compromising the function, performance, quality, or reliability of the finished asset.
Value engineering is a systematic method to improve the value of a project by analyzing its functions and seeking cost-effective alternatives. It involves evaluating design choices, materials, and construction methods to enhance performance, reduce costs, and maintain or improve quality and functionality.
Used in a sentence
Value engineering seeks to optimize project value by improving functionality and reducing costs.
Synonyms/variation
VE
Stay updated on what’s happening in construction.
Subscribe to Blueprint, Procore’s free construction newsletter, to get content from industry experts delivered straight to your inbox.
Learn MoreLearn more about Value engineering
How Are Partnerships in Construction Being Redefined?
In a market where cost, speed, and quality are table stakes, owners are demanding more than projects delivered on time and on budget. They want trusted partners who bring strategy, intelligence, and collaboration to every phase. In episode 24, Skanska’s Regional Executive Officer Anita Nelson shares how owner–contractor relationships are evolving, why operating models must […]
Who Owns Construction’s Intelligence?
In this episode of The Power of Construction, we chat with Hugh Seaton, CEO of The Link.ai, to step past the buzz around tools and features and unpack what true data and AI readiness means for our industry. From subcontractor IP to data agreements, we unpack how governance, trust, and collaboration will shape construction’s digital […]
Building Better, Faster Construction Project Managers Through Technology
Technology promises greater efficiencies in construction, but the key to success is removing the bottlenecks that impede the project manager (PM) from fully leveraging its advantages. Preparation for the transition produces better, faster PMs. Trained in deftly manipulating information, PMs can close the gaps in the construction “project management triangle” of time, budget, and quality. […]
Interconnected Touchpoints: The 4-legged Stool for Managing Data Sharing
Data is an incredibly powerful tool in construction — but the more data being produced and collected, the more room there is for errors. A four-legged stool approach can minimize data-entry and data-analysis mistakes while maximizing efficiencies. Each leg represents an entry point where every piece of data should find a home, whether it’s in […]
How can we improve this glossary entry?
By clicking this button, you agree to our Privacy Notice and Terms of Service.