ADVANCED VALUE ENGINEERING SKILLS

TRAINING OVERVIEW

Value Engineering (VE) is a systematic and innovative approach to enhance project value for clients. This course focuses on optimizing project value, reducing life-cycle costs, and eliminating unnecessary expenses through proactive engagement with stakeholders. Emphasizing return-on-investment, the VE methodology guides decision-making during project planning, procurement, and execution, aiming to identify the best value solutions that meet client requirements. The training equips participants with expert guidance on implementing VE to secure tangible benefits and cost savings in projects, emphasizing the development of project scope, cost estimates, design solutions, and budgets. Within the project management context, this course enhances creative thinking, problem-solving, objective assessment, and informed decision-making skills.

TRAINING TOPICS

• Forming and managing an integrated multi-disciplinary value engineering team
• Capturing stakeholders’ requirements and expectations
• Performing Function Analysis
• Generating alternative solutions through creative thinking techniques
• Selecting, presenting and implementing proposals
• Understanding cost models and life-cycle costing analysis

By the end of this training course, delegates will be able to

• Understand the fundamental concepts of Value Engineering and Analysis
• Understand how value engineering supports effective project and product management
• Analyse Functions and involve stakeholders
• Apply creative thinking techniques
• Evaluate and select Best Value proposals

TRAINING IS TAILORED TO

• Anyone involved in project initiation, engineering design, and critical assessment of projects
• All those responsible for making significant decisions concerning plans and budgets for large and complex projects
• Project or Program Sponsors, Project Managers, Cost Estimators, Cost Controllers, Engineers, Designers, and Project Staff
• All those aspiring to deliver better value in all sectors of the economy from major projects in construction, manufacturing, petro-chemical, healthcare, education to legal and public services

TRAINING METHODOLOGY

Our training methodology for the Value Engineering Skills course is designed to offer a dynamic and engaging learning experience. The sessions are led by experienced industry professionals who guide participants through practical applications of Value Engineering (VE) principles. The methodology includes a mix of interactive lectures, case studies, group discussions, and hands-on exercises to ensure a comprehensive understanding of VE concepts. Participants will have the opportunity to apply VE techniques to real-world scenarios, fostering creative thinking and problem-solving skills. The training is structured to encourage active participation, collaboration, and the development of practical skills that can be immediately applied in project management contexts.

DAY ONE:

UNDERSTANDING VALUE ENGINEERING AND ITS APPLICATION

• Course Introduction and Post-Course Assessment
• What is value? What is Value Engineering (VE)? Why is it important?
• Defining Value Engineering concepts and principles
• VE Study definition, scope, and project phases
• VE team and stakeholders’ analysis and management
• Introducing the case study

DAY TWO:

THE INFORMATION AND FUNCTION ANALYSIS PHASE – EXPRESSING PROJECT NEEDS AND CONSTRAINTS

• The VE Job Plan
• The Information Phase – steps and procedures
• The need for Function Analysis in projects
• Identifying functions and selecting Function Diagrams
• Function Analysis System Technique (FAST)
• Workshop: FAST Diagram

DAY THREE:

THE CREATIVE PHASE - INSPIRING CREATIVITY IN YOUR TEAM

• Function Cost and Worth
• Finding value mismatches
• Facilitation skills and overcoming creativity blockers
• Creativity and Creative thinking within the project environment
• Data collection and Creativity Output
• Workshop: Brainstorm Case Study Alternatives

DAY FOUR:

THE EVALUATION PHASE - MAKING INFORMED PROJECT DECISIONS

• Effective Decision-making in project environment
• Project evaluation methods: Subjective evaluation and quantitative evaluation
• Paired comparison and Analytical Heretical Process (AHP)
• Project life-cycle costing and Net Present Value
• Output of the Evaluation Phase
• Workshop: Cost estimating Techniques

DAY FIVE:

THE PRESENTATION AND REPORTING PHASES – GETTING RESULTS THROUGH EFFECTIVE COMMUNICATION

• Selection of alternatives and action planning
• Reporting VE findings to Senior Management and project stakeholders
• Oral presentation techniques & interpersonal skills
• Study Levels of the VE Certification by SAVE International
• Review of VE Case study Reports and Wrap-up discussions
• Post-Course Assessment