COURSE OVERVIEW

This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using “MS-Excel” applications. 

 

This course is designed to provide participants with a detailed and up-to-date knowledge of Value Engineering – Cost Reduction & Quality Improvement. It covers the origin, core principles and key objectives of valve engineering; the phases of the VE job plan, VE roles and responsibilities and function analysis systems technique (FAST); the VE opportunities and the function analysis in practice, cost analysis and cost modeling and quality improvement through VE; the risk-based value engineering, benchmarks and value metrics and the software tools for VE and analysis. 

During the course, participants will be able to the creative thinking in VE comprising of brainstorming and lateral thinking, morphological analysis, SCAMPER technique and divergent versus convergent idea generation; the generating VE alternatives, evaluate ideas, develop VE proposals and document value improvement projects; the implementing VE recommendations, change management for VE, procurement and supply chain value engineering, VE in project and construction management and value engineering in services and operations; the governance and VE audit trail, measure VE success and sustain cost and quality gains the VE and innovation management and build a VE-driven culture.