Value Engineering Masterclass

INTRODUCTION

In its widest meaning, value is the benefit to the client provided by a project. Value Engineering (VE) is a creative, systematic technique that enables suppliers of a product, service, or project to engage stakeholders proactively in order to optimize project value, minimize life-cycle expenses, and remove needless costs. During project planning, procurement, and execution, the VE technique stresses the return-on-investment component of decision-making in terms of benefits management. It helps design teams and organizations to uncover and assess alternative ideas and solutions at any stage of the project, reducing wasted design and investment effort and delivering best value solutions that match client needs. VE is not about choosing the lowest alternative; rather, it is about achieving the best value for money and always improving.

This course is intended to give participants with professional direction for gaining actual advantages and cost reductions by applying VE in their projects, with a focus on project scope, cost estimates, design solutions, and budgets. The training greatly improves creative thinking, problem-solving, objective evaluation, and informed decision-making abilities in the context of project management.

COURSE METHODOLOGY

This course is designed in the form of workshop which will includes a variety of learning tools to help participants function effectively and efficiently in a multifunctional environment through various methodologies including;

• Short lectures
• Brainstorming
• Case studies
• Group activities
• Role playing

COURSE OBJECTIVES

The attendees of this Certificate Program will be able to:

• Understand the essential ideas of value engineering and how it contributes to effective project management by providing a continuous thread of best practices throughout the project development process.
• Gather and organize information and costs related to major project parts Learn how to acquire and incorporate stakeholder feedback into the project charter and plan
• Analyze the correlations between essential qualities such as cost, value, and function.
• Effectively report to senior management and project stakeholders when offering options that increase the overall project value; and
• Objectively offer a compelling argument for various project options.

WHO SHOULD ATTEND THIS COURSE?

• Project Managers
• Operational Excellence Personnel
• Operations Managers
• Asset Managers
• Quality Assurance Personnel.
• Anyone who is seeking improvement in skills for enhanced performance and career development

TARGETED SKILLS

• Value Techniques
• Budget Analysis
• Life Cycle Costing
• Project Management
• Risk Management
• Cost estimation