Describe the Benefits Associated with Value Engineering

question 12

Essay

Describe the benefits associated with value engineering.

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Definitions:

Irreparable Harm

Damage or injury that cannot be adequately remedied by money damages and therefore often justifies a court's granting of injunctive relief.

Materially Breached

Pertaining to a serious violation or failure to perform one’s duties under a contract that justifies the other party's right to terminate the agreement.

Substantially Breached

A significant failure to fulfill one's duties under a contract, which justifies the other party's right to terminate the agreement and seek damages.

Anticipatory Breach

Occurs when one party to an agreement makes it clear, before the performance is due, that they do not intend to fulfill their contractual obligations.