Value Engineering (VE) balances the often-conflicting demands of function, quality, safety and cost within any project or process. That balance achieves the highest value and return on investment.
RHA specializes in both leading and providing teams for Value Studies. Our preferred approach is based on SAVE International’s Value Methodology. There are other similar and complimentary approaches, such as LEAN and Six Sigma, but they are not “VE” or value improvement based. The core difference is that the SAVE approach maintains focus on function.
Add Customer Value to Any:
Program – Project – Facility – System – Process – Service
Demonstrated Value Improvement:
Performance Through Function Analysis is a Core Step – Function analysis is the keystone difference between the Value Methodology and other process improvement / agile approaches. To meet performance requirements, the team must first identify all of the functions performed in the subject of the study. This understanding allows us to identify critical, secondary, unintended or non-critical functions and attach a cost to each of them. Through function analysis, the team gains a clear understanding of what is accomplished and drives cost. Now you can make highly informed decisions about performance options.
An Investor’s Perspective – Do you know any investor that would pass up an opportunity with 50-year proven returns averaging 20:1 ROI? Not a single one, right? Well, Value Engineering has an average benefit to cost ratio of 20:1 while maintaining the required performance! Individual project examples, seen here, have achieved an ROI upwards of 200:1. Because of this, we at RHA recommend that Agencies and private companies both give the process an opportunity to work for them. Click here to see some specific examples of actual project study results.
Innovation Through Unfettered Creativity Among a Diverse Group of Participants – A single person can be creative and innovative, but individually we tend to jump to our “best” idea. It is proven that a diverse group of people brainstorming together, without filter and criticism, is able to define a significantly larger pool of ways to accomplish a given function. Here is where we identify innovations.
Ensuring Fiscal Responsibility – In our current economy, as a responsible steward and to be competitive in your industry, you want to make the best decisions and need to be able to communicate the wisdom of these decisions to others. The report provided at the conclusion of a formal VE study is your perfect tool.
Would you like to incorporate the Value Methodology into your company approach? Do you have questions about how RHA can assist you with your project? Do you simply want to learn more?