Source: https://www.lexology.com/, April 2, 2024
William J. Tinsley, Jr., Phelps Dunbar LLP

Value engineering (VE) is intended to be a shared effort among the design professionals, the construction team and the project owner to enhance the performance and efficiency of a project during the design process. In true VE, the project’s lead design professionals carefully vet, compare and incorporate good ideas from others into the project’s final design.

In contrast, change proposals, motivated by the need to reduce construction costs or construction schedules, and that occur near or after a project’s design is complete, may present unforeseen risks, especially for the proponent of the change. Read more.