Alex Getelman is a respected New York real estate executive who guides Milestone Building Ventures in pursuing high profile projects such as The Crossings at Southern in the Bronx. With a longstanding interest in value engineering, Alex Getelman is particularly focused on the discipline as it applies to building design and construction.
The concept of value engineering was pioneered by General Electric’s Lawrence Miles during World War II, when shortages arose in both finished products and raw materials. With war-driven manufacturing continuing at maximum capacity, a solution needed to be found for sourcing replacement materials that had similar properties and functions.
In essence, value engineering is a coordinated approach to finding practical alternatives to existing methodologies. It often involved reducing unnecessary costs while boosting product quality, function, and value.
In the construction sphere, this encompasses diverse logistical elements, from the sourcing of building materials and transportation, to employing best practices in the actual building process. Sought-after end results are not limited to quality and life cycle costs, and may also include energy efficiency and environmental impact. An optimal approach to value engineering involves bringing together core team members at regular intervals to discuss ideal ways of allocating resources and building value into every aspect of the project.