Value Engineering

Value Engineering Handbook (Under Review)

Value Engineering is the systematic application of recognized techniques by a multi-disciplinary team to identify the function of a product or service, and establish a worth for that function. Value Engineering also generates alternatives through the use of creative thinking, and provides the needed function to accomplish the original purpose of the project, reliably, and at the lowest life-cycle cost without compromising safety, necessary quality, and environmental aspects of the project.

Value Engineering Procedures Handbook

The Value Engineering Program coordinates the application of value analysis techniques to selected NMDOT projects to improve project quality, reduce costs, foster innovation, and eliminate design elements, without compromising project safety or function.

The objectives of Value Engineering are to:

• Increase the project's value;
• Maintain the project's function and scope;
• Minimize the life-cycle cost of a project;
• Encourage innovation;
• Highlight potential cost reductions on transportation improvement projects; and
• Produce a high quality, more efficient transportation product.

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