Introduction

Value Engineering (VE) is a systematic and structured approach used to improve the "value" of a project or process by examining its function. It focuses on maximizing the functionality of a project while minimizing costs, ensuring that the essential functions of the project are achieved at the lowest possible cost without compromising quality. This training program is designed to equip professionals with the knowledge and skills required to effectively implement VE in their projects, leading to improved efficiency, reduced costs, and enhanced performance.

Target Audience

• Engineers and architects

• Project managers and planners

• Construction professionals

• Product developers and designers

• Cost estimators and financial analysts

• Quality assurance professionals

• Anyone involved in project management and process improvement

Objectives

By the end of this training program, participants will be able to:

1. Understand the principles and methodology of Value Engineering.

2. Identify and analyze the functions of a project or process.

3. Develop and implement strategies to improve value.

4. Apply VE techniques to reduce costs and enhance performance.

5. Facilitate VE workshops and lead VE teams effectively.

Outlines

Day 1:

Introduction to Value Engineering

• Definition and history of Value Engineering

• Key principles and concepts of VE

• Benefits of implementing VE in projects

• Examples of successful VE applications across various industries

Day 2:

The VE Job Plan

• Detailed explanation of the 6-phase VE Job Plan:

  • Information Phase

  • Function Analysis Phase

  • Creative Phase

  • Evaluation Phase

  • Development Phase

  • Presentation Phase

• Importance of each phase in the VE process

• Roles and responsibilities of VE team members

Day 3:

Function  Analysis

• Understanding the concept of function in VE

• Techniques for identifying and analyzing functions

• Function Analysis System Technique (FAST) Diagram

• How to develop and use FAST diagrams to improve understanding of project functions

Day 4:

Creative and Evaluation Phases

• Creative Phase: Techniques for generating alternative solutions

  • Brainstorming and other creative thinking methods

• Evaluation Phase: Assessing and selecting the best alternatives

  • Criteria for evaluating alternative solutions

  • Tools and techniques for decision-making in VE

Day 5:

Development and Presentation Phases

• Development Phase: Detailing and implementing selected alternatives

  • Preparing detailed implementation plans

  • Cost estimation and impact analysis

• Presentation Phase: Communicating VE proposals

  • Preparing and delivering effective presentations

  • Securing stakeholder buy-in and approval

• Final review and Q&A session to consolidate learning