Engineering Value: The Hidden Savings of Engineering Value

 

The bottom line. That is an unavoidable, monolithic reality of the construction industry. However, a formulaic “race to the bottom” can have dramatically negative effects on the true cost of a project.

On this episode of the Engineering Value podcast, Steve Edwards, Director of National Accounts and Special Projects with Draper, sat down with Sean Heath to discuss the ways in which a formulaic approach is only as good as the latest data entered into that formula.

Simply putting numbers into a pre-formulated spreadsheet is a common mistake, according to Edwards.

“That tells them that component X, maybe it’s the flooring, is going to be 6%, and the furnishings are going to be 1 & 1/2 %, and that’s instantly now set the budget without any actual regard for what the functionality of anything’s supposed to be,” he said.

Something as simple as a clear discussion about fabric choice can generate immense savings, Edwards explained.

“You could maybe drive the cost up on a hospital project up by 30-40% just in your fabric selection, and the owner has no idea that they’re paying that premium, and they really have no interest in paying that premium,” he said. “So, a simple change in that fabric spec can really save a lot of money.”

For the latest news, videos, and podcasts in the Architecture & Design Industry, be sure to subscribe to our industry publication.

Follow us on social media for the latest updates in B2B!

Twitter – @MarketScale
Facebook – facebook.com/marketscale
LinkedIn – linkedin.com/company/marketscale

Follow us on social media for the latest updates in B2B!

Latest

California Passes Internet Age-Appropriate Design Code Act (ADCA)
September 26, 2022
The concern over the online safety of minors continues to grow. With the increased use of technology during the pandemic due to distance learning among other factors, the chances of a child being Read more
The Challenges of Working Capital for Small and Mid-Size Construction Businesses
September 23, 2022
Record inflation, rising interest rates, and myriad supply chain issues are an amalgamation of challenges for any business in today’s climate. For small and mid-size construction companies, any of these issues Read more
Bluedot’s Report Offers Restaurants Insight Into Consumer Spending Behaviors
September 23, 2022
Inflation and ongoing concerns of a recession are affecting consumer spending behaviors. And as always, the restaurant industry is a great place to take the temperature of what people are willing to Read more