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Vanir's value engineering analysis is divided into four phases: information exploration,
analysis, planning and implementation. The information phases defines who the owner/users
are and their needs and wants. The exploration phase is pursued to generate as many ideas
as possible utilizing a brainstorming approach. These ideas are then evaluated and ranked
for feasibility based upon project criteria. The last phase, planning and implementation,
takes the best ideas and provides an in-depth review for evaluation by the decision makers
for final selection.
A typical value engineering session would include:
Development of cost is not limited to the first costs, such as basic construction costs but should include all costs, such as operation cost, maintenance cost and all other aspects of life cycle cost. For example, using a material or system that is 80% of the cost of an alternate but will last just five years, rather than twenty years, may not be a prudent decision. Consideration of life cycle costs can actually result in project solutions that increase the first cost of the projects but are in the owner's best interest.
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