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Value Engineering: Practical Applications for Design, Construction, Maintenance and Operations
 
Start Date : 13 Jan ,2025
End Date   : 17 Jan ,2025
Duration    : 5 Days
 
Overview: 
Value engineering, also known as value analysis, is a competitiveness enhancing method that focuses on maximizing the value of a product (process, project) by making sure it fulfills the clients’ needs, at the lowest cost possible. The approach is systematic and includes a multi-step job plan, which in turn uses many tools to do product or process analysis. 
The training provides an overview of the whole job plan, including each phase of the job plan and uses a case study approach to assist participants to learn the methodology. The training explains the different uses of the methodology, what possible goals can be achieved, and when value engineering is useful. Finally, the instructor outlines how to implement a value management program in an organization. 
 
Course Objectives: 
Acquire in-depth knowledge on value engineering 
Introduce the overview of value engineering consisting objectives, methodology and techniques 
Classify the practical applications of value engineering using the project scope budget, CIAPB and preparation of cost models, planning for value engineering services, function analysis, etc. 
Apply value engineering to products, processes as well as projects  
Identify and measure the needs that products and processes have to fulfill 
Identify the solution with the best value for all stakeholders 
 
Course Content: 
1- Introduction: A Briefing 
The Objectives of Value Engineering 
The Reasons for Unnecessary Costs 
When to Apply Value Engineering 
VE Methodology and Techniques 
Interface with Other Programs 
Demonstrated Impact of VE 
 
2- Value Engineering: Practical Applications, Project Scope and Budget 
Elements of the Project Budget 
Prevalent Budgeting Techniques 
Cost Control 
Defining Project Scope 
Parameters and Parameter Cost 
 
3- The Capitalized Income Approach to Project Budgeting (CIAPB) 
CIAPB Objectives 
Measuring Property Value 
The Meaning of Capitalization 
The Capitalization Process 
The Need for Cost Control 
 
4- Preparation of Cost Models 
Making Models 
Construction Cost Models 
Other Resources 
Types of Models 
 
5- Planning for Value Engineering Services 
VE Objectives 
Level of Effort 
VE and Total Project Management 
Team Selection 
The VE Job Plan 
 
6- Function Analysis 
Classifying Function 
Defining Functions 
Project Level Function Analysis System Techniques (FAST) Diagram 
 
7- Creativity and Interpersonal Skills 
Creativity and Fixation 
Interpersonal Skills 
Human Factors 
Creativity throughout the Job Plan 
The Generation of Ideas 
Delphi Technique 
Value Engineering—A Crafted Strategy 
 
8- Life Cycle Costing 
Decision Makers' Impact on LCC 
LCC and Total Building Costs 
LCC Terminology and Examples 
LCC Methodology 
Application of LCC to Buildings 
 
9- Integrating VE into the Construction Industry 
Planning and Design 
Construction 
Maintenance and Operations (M&O) 
 
10- VE Applications to Risk Assessment and Analysis 
Risk Assessment 
Risk Analysis 
 
 
Targeted Audience: 
This course is intended for product engineers, manufacturing and continuous improvement engineers, industrial and general managers, operations and product development managers and technicians.