Value Management

Value management often plays an important role in ensuring that a project receives the maximum program at the lowest possible cost. W.T. Rich Company seeks to make value engineering recommendations based on our construction experience and knowledge.  

Working collaboratively with the design team and owner, we brainstorm, identify, explore and assess potential value engineering opportunities.  W.T. Rich will conduct additional research on potential value management opportunities in terms of feasibility and detailed cost analysis to enable the client to make informed decisions that best serve their specific needs and priorities.

A W.T. RICH COMPANY

VALUE MANAGEMENT CASE STUDY

During the preconstruction phase of the Norton High School Addition and Renovation project, the Design Development cost estimate came in $3 million over the project’s $27 million budget.  W.T. Rich led an intensive value engineering effort in which we identified, priced and evaluated over 100 value management ideas.  The team selected over forty of these ideas for implementation, resulting in a cost savings of $3 million.  One major idea initiated by W.T. Rich was the adoption of heat mirror glass at all new windows and curtain wall, allowing for the deletion of the proposed perimeter radiant panel heating system and a cost savings of over $400,000.  By adoption of these value management ideas, this M.G.L. Chapter 149A project was bid slightly under budget, allowing for the acceptance of all bid alternates and enabling the project GMP to match the construction budget exactly.

 

“I have now had the opportunity to complete two projects with the W.T. Rich team. Their response and effort to help the City of Cambridge open the Dr. Martin Luther King Jr. project after a devastating roof fire in May of 2015 took extraordinary effort and full commitment of the firm’s management and site staff to allow the City to fully occupy the building in December of 2015. The City of Cambridge looks forward to the completion of our third project together, the King Open / Cambridge Street Upper School and Community project in the summer of 2019.”

Michael Black, Program Manager
The City of Cambridge
Martin Luther King Jr. School - New Construction