Target Value Delivery (TVD) is a set of practices, a framework, implemented during the design delivery phases of a project to ensure the facility meets the operational needs and values of the users and has practices carried through into construction like Last Planner System to deliver a project within the allowable budget while promoting innovation throughout the process to increase value and eliminate waste (money, time, human effort).
Project Owners Project owners utilize TVD for several reasons like:
-Alignment of Project Goals: TVD allows a core team to align around target conditions for delivering the project early during business case development or, at minimum, during validation. This ensures that everyone is working towards the same goals.
-Value and Cost Management: TVD assures that the facility meets the operational needs and values of the users, is delivered within the allowable budget, and promotes innovation throughout the process to increase value and eliminate waste (time, money, human effort).
-Promotion of Innovation: The driving force of TVD is to increase value while decreasing cost for all team members. This encourages the team to develop innovative solutions to meet the project goals.
-Elimination of Waste: TVD is a very different model from the traditional, large-batch process of design, estimate cost, and value engineering — a process replete with waste. TVD aims to eliminate this waste, leading to more efficient project delivery.
-Continuous Tracking and Evaluation: As work progresses in small batches toward intermediate milestones, the design is continuously tracked and evaluated against the established values and cost model. This allows for real-time adjustments and improvements.
Bottom Line: Get more and pay less for it. It is a win/win strategy for owners, designers, and builders.
---
Connect with Felipe via
Social media at https://thefelipe.bio.link
Subscribe on YouTube to never miss new videos here: https://click.theebfcshow.com/youtube
Watch The EBFC Show Podcast https://click.theebfcshow.com/YouTube-Podcast
