Research and White Papers

Research and White Papers Regarding Convergence Data Services

Effective Value Engineering Depends on Having the Right Data

By Richard Turner

August 2011 | Convergence Data

The Information needed for supporting decisions regarding cost savings and/or quality improvements is usually not readily available. Further, cost-driving product information is buried in specification documents, drawings, CAD files, etc.. Cost data itself lodged in other enterprise information silos. Meanwhile, the window of opportunity for Value Engineering cost improvements closes quickly. Agility is required to capture the highest value for the lowest cost before the window closes. Without accurate and up-to-date information decisions may be made based on incorrect assumptions. This presentation, made at the DMSMS & Standardization 2011 Conference in Hollywood, FL, presents a process for more effective Value Engineering / Cost Savings Decision Support based on Information that is accurate, complete and up-to-date.

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