Value Engineering Skills

Introduction

Value Engineering (VE) is a systematic and organised approach to providing necessary functions in a project at the lowest cost. When applied to projects, Value Engineering is a creative, organised approach which enables project teams to engage with stakeholders proactively to ensure that project value is optimised, life-cycle costs are reduced, and unnecessary costs eliminated.

This Value Engineering Skills training course is designed to equip participants with the essential knowledge and skills required to implement Value Engineering principles effectively in a project environment. Throughout the training course, participants will delve into the core concepts of Value Engineering, exploring its principles, methodologies, and best practices. From understanding the fundamental concepts of value and function analysis to mastering techniques for cost optimisation and risk mitigation, this course provides a comprehensive framework for driving value-driven decision-making within your projects and organisation.

Moreover, this training course is structured as a highly practical training course, incorporating real-world case studies, interactive exercises, and collaborative discussions to reinforce learning and facilitate practical application. By the end of this training course, participants will be empowered to leverage Value Engineering as a strategic tool for driving innovation, enhancing quality, and delivering projects with a sustainable competitive advantage in today's dynamic business environment.

This GLOMACS Value Engineering Skills training course will highlight:

• Understanding the fundamentals of value engineering
• Key skills needed to optimise value on projects
• Applying appropriate estimating and planning techniques
• Learning how to protect value through effective risk management
• Maintaining project value through efficient control

Objectives

At the end of this Value Engineering Skills training course, you will learn to:

• Apply a professional, systematic approach to optimising value on projects
• Identify which key performance indicators are integral to value engineering
• Produce optimised project plans through effective critical path analysis
• Protect project value through effective risk management
• Establish essential project control methods and procedures
• Understand how to apply practical estimating and progress measurement techniques

Training Methodology

The Value Engineering Skills training course will utilise a variety of proven adult learning techniques to ensure maximum understanding and retention of the information presented. This includes holding group discussions and exercises that will enable delegates to share their own experiences and apply the course concepts.

Organisational Impact

The organisation will benefit by:

• Enhancing their strategies and practices to optimise project delivery value
• Improving their project key performance indicators and success rates
• Increasing the efficiency of their engineering and project management teams
• Maintaining corporate values and achieving objectives through efficient risk management
• Attracting new clients and expanding their portfolio with existing clients
• Increasing their value engineering knowledge base

Personal Impact

By attending this Value Engineering Skills training course, Participants will develop additional and valuable skills through:

• Learning to improve the value in delivery of all projects
• Improving their risk identification and analysis skills
• Refining their planning and estimating techniques
• Enhancing their integrated engineering and team management skills
• Developing key attributes required of a professional engineer, architect, and manager
• Becoming an indispensable project team member and leader