How you can optimize your hotel renovation project to save money and improve quality.
Value engineering refers to building projects that cut costs without compromising quality. Value engineering is not just about saving money; rather, it’s about considering the project’s goals and finding cost-effective ways to achieve them. When properly managed, the value-engineering process can ensure a successful hotel renovation for less money.
Applying a value-engineering approach to a hotel renovation requires the involved parties to come together and review the project. For instance, the owner, architect/engineer, designer, contractor, and other outside consultants should meet to discuss the aims of the renovation and what can be done to maximize value immediately and in the long term.
Having such an in-depth meeting at the outset of a project helps determine what products, systems, and processes will be used to eliminate unnecessary costs. When the project is well-planned from the very start, there will be fewer unexpected expenses and fewer time delays.
It’s important to remember that value engineering projects should not compromise quality. The final product must meet the owner’s expectations and provide real value. Oftentimes, this means making tough decisions and adjustments at the outset of the project. However, making these decisions now will eliminate the need to redesign or re-do work at a later date.
When applying a value-engineering approach to a hotel renovation, the major planning steps include the following:
- Identifying the materials and methods that will be used.
- Analyzing the functions of said materials and methods.
- Looking for alternative materials and methods that will lower project costs. This means evaluating the full cost of each alternative, including the cost of shipping, storage, lifetime maintenance, and so on.
- Evaluating the potential of each alternative to be successful.
This is how taking a value engineering approach to hotel renovations can save money without sacrificing quality. Looking for an experienced contractor to handle your hotel renovation project? If so, then contact Nikki Fox at Parkwest General Contractors at Nikki@ParkwestGC.com. Our dedicated team is eager to assist you with all your building upgrade needs today.