Value Engineering

The West Virginia Division of Highways (WVDOH) recognizes the need for the prudent use of diminishing resources and revenues while providing a quality transportation program. Value Engineering (VE) is a function-oriented technique that has proven to be an effective management tool for achieving improved design, construction, and cost-effectiveness in various transportation program elements.

It is anticipated that the successful implementation of a VE program will result in additional benefits beyond design and cost savings; for example, constant updating of standards and policies, accelerated incorporation of new materials and construction techniques; employee enthusiasm from participation in agency decisions; increased skills obtained from team participation. Value Engineering is one of the most effective techniques known to identify and eliminate unnecessary costs in product design, testing, manufacturing, construction, operations, maintenance, data, procedures and practices.

Conclusion

As can be seen in the comparison above, Alternative 1 is the least expensive alternative. This example also illustrates that the use of either the annual worth or present worth method leads to the same conclusion.