Value Engineering Skills
INTRODUCTION
Value Engineering is valuable in identifying the barriers in the project area early and areas for improvement. Using a team approach to this planning stage allows every party to communicate their concerns, ideas, and issues, allowing for suitable materials, resources, budget, and schedule.VE will improve the performance, profitability, quality and risk levels of the client organisation and the whole project team.
This Value Engineering (VE) course is a creative, organized approach which engages project stakeholders to define their business or performance requirements, maximises creativity and innovation to identify best value solutions, enabling more robust, effective decision-making during project planning, procurement and execution and through focusing on performance requirements and avoiding abortive work.
The course will provide the best value results from achieving the right balance between the client's benefit from a project or service and the resource required to deliver it, not just cost alone.
OBJECTIVES
By the end of this course, participants will be able to:
Identify value mismatches through the ratio of whole-life costing
Capture & incorporate stakeholders input in the development of the project charter & plan
Add value to stakeholders thru best-value decisions based on the balance of value criteria & resources
Know the fundamental concepts of Value Engineering and Analysis
Identify alternative recommendations to the management which will improve value effectively
WHO SHOULD ATTEND ?
This course is suitable for a wide range of professionals but will greatly benefit:
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, petrochemical, healthcare, education, legal and public services
Day 1
Framework for Applying Value Engineering in Projects
Defining Value and Value Engineering concepts and principles
How and when is Value Engineering applied?
Project definition through stakeholder analysis and management
Team player styles
Identifying relationships between Value, Cost and Worth Overview of Different Value Engineering Phases
Day 2
The Function Analysis Phase - Expressing Project Functional Needs and Constraints
The Information Phase steps and procedures
Developing Value Engineering Job Plan
Defining project constraints
What is function analysis and Function-Cost-Worth Analysis
Developing FAST Diagrams to identify critical project components
Cross-Functional Project Team Approach
Day 3
The Creative Phase - Inspiring Creativity in Your Project Team
Creativity and Creative thinking within the project environment
Creative thinking techniques
Reaching consensus and leveraging the power of project team collaboration
Project risk perception and identification
Identifying priorities through paired comparison
Output of the Creative Phase
Day 4
The Evaluation Phase -Making Informed Project Decisions
Project evaluation methods
Performing project risk and scenario analyses
Lifecycle costing techniques
Incremental benefit-cost analysis for project evaluation
Effective Decision-making in project environment
Output of the Evaluation Phase
Day 5
The
Planning and Reporting Phases -Getting Results through Effective
Communication
Develop and assess VE proposals to optimize project value
Action planning roles and responsibilities
Reporting VE findings to Senior Management and project stakeholders
Incorporating VE into the early project phases
Integrating VE with Continuous Improvement Techniques
IN-HOUSE TRAINING
LPC Training is capable of conducting this training programme exclusively for your delegates. Please e-mail us on admin@lpcentre.com for further information and/or to receive a comprehensive proposal.
www.lpcentre.com
DOCUMENTATION
High-Quality material has been prepared by the LPC team for distribution to delegates. In addition, a special note pad to facilitate note-taking will be provided.
CERTIFICATES
Accredited Certificate of completion will be issued to those who attend & successfully complete the programme.
SCHEDULE
Our Course timings commence at 09:00AM12:45PM Or 01:00PM - 05:00PM.
REGISTRATION & PAYMENT
Please complete the registration form on the course page & return it to us indicating your preferred mode of payment. For Further Information, please get in touch with us.
CANCELLATION AND REFUND POLICY
Delegates have 14 days from the date of booking to cancel and receive a full refund or transfer to another date free of charge. If less than 14 days notice is given then we will be unable to refund or cancel the booking unless on medical grounds. For more details about the Cancellation and Refund policy, please visit www.lpcentre.com/terms-and-conditions/
TRAVEL AND TRANSPORT
We are committed to picking up and dropping off the participants from the airport to the hotel and back.
CONTACT INFO
LONDON
Oxford Street, 25 N Row, London W1K 6DJ
+44 20 36 916 970 | +44 20 80 900 464 info@lpcentre.com
DUBAI
Business Bay, ParkLane Tower, Offices 718 - 719
+971 43 88 00 94
dubai.training@lpcentre.com
KUALA LUMPUR
No. 3273 Level 32, Menara Prestige, 1, Jalan Pinang, 50450 Kuala Lumpur +60 19 305 5694
www.lpcentre.com
www.lpcentre.com