Building in some added value

摘要

Value engineering and value management are a far cry from the cost-cutting exercises of the 80s, says Matthew B Locke. 'Local authorities should develop the use of value management and value engineering techniques.' This was a recommendation made by the Audit Commission in Just capital - local authority management of capital projects, published in 1996. The publication showed that some authorities were using value engineering informally, but that only one authority had formalised its approach, achieving savings of up to 25% on one capital project.