A structured review of function, performance and cost to find a better-value solution without simply reducing necessary scope or quality.
Why it matters
Good value engineering records the performance requirement, cost effect and design consequence of each option.
Example in practice
The team compares two façade build-ups that meet the same performance criteria but have different cost and programme effects.
Use the term carefully
State the scope, amount, adjustment method or contract meaning whenever this term could change who carries cost or risk.