Definitions of value and the relationship between quality with cost

This presentation will focus on the definitions of value in the context of value engineering and the relationship between functionality/quality with cost. It will touch on the misconceptions that value engineering is solely reducing the cost of materials and we should look at how to maximise the value of the building – in terms of efficiency and the end user experience. We will discuss how value engineering can result in increasing capital costs to make savings later on or increasing the sell ability or sales value of a building. We will discuss what ‘value’ means to various stakeholders and how various stakeholders should be having an input into key design decisions.