This COPEX Value Engineering (VE) online course will introduce a creative process which improve the performance, profitability, innovation and quality of service of an organisation. VE enables organisations to achieve best value results from achieving the right balance between the benefit the client achieves from a project or service and the resource required to deliver it, not just cost alone. VE enables effective engagement of project stakeholders to define their business or performance requirements, maximises creativity and innovation. It also enables more robust, effective decision making during project planning, procurement and execution and through focussing on performance requirements and avoiding abortive work.
What are the Goals?
By the end of this COPEX online training 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 is this Training Course for?
This COPEX online training course is suitable to 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, Petro-Chemical, Healthcare, Education Legal and Public Services
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
Study Levels of the VE Certification by SAVE International
Review of VE Case study Reports and Wrap-up discussions
COPEX e-Certificate of Attendance will be provided to delegates who attend and complete the course
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30 Sep-04 Oct 2024 Fee: $3,950
20-24 Jan 2025 Fee: $3,950
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