Value Engineering

Course Description


Introduction

 

Welcome to the "Value Engineering" training course, developed by Cambridge for Global Training. Value Engineering is a systematic approach to improving the value of products, processes, and services by identifying unnecessary costs while maintaining or improving quality. 

 

This course aims to provide participants with the knowledge and skills needed to implement Value Engineering principles effectively. Through a blend of theoretical concepts and practical applications, participants will learn how to analyse processes, identify areas for improvement, and implement cost-effective solutions to enhance value.

 

Course Objectives

By the end of the course, participants will be able to:

 

  • Understand the principles and concepts of Value Engineering.
  • Identify opportunities for value improvement in products, processes, and services.
  • Analyse costs and benefits to make informed value-based decisions.
  • Develop strategies to reduce costs without sacrificing quality or functionality.
  • Implement Value Engineering techniques to maximise value for stakeholders.
  • Foster a culture of continuous improvement and innovation within the organisation.
  • Evaluate the effectiveness of Value Engineering initiatives through measurable outcomes.

 

Who Should Attend

 

  • Engineers and technical professionals involved in product design and development.
  • Project managers and process improvement specialists.
  • Procurement professionals responsible for cost management.
  • Business owners and managers seeking to improve efficiency and reduce costs.
Course Outline

 


Unit 1: Introduction to Value Engineering

 

  • Principles and concepts of Value Engineering
  • History and evolution of Value Engineering
  • Value Engineering job plan
  • Value Engineering in different industries
  • Case studies on successful Value Engineering projects

 

Unit 2: Value Analysis Techniques

 

  • Function analysis and value identification
  • Cost analysis and cost estimation
  • Brainstorming and creative problem-solving techniques
  • Value Engineering workshops and team collaboration
  • Benchmarking and best practice analysis

 

Unit 3: Cost-Benefit Analysis

 

  • Understanding cost-benefit analysis principles
  • Evaluating alternatives and trade-offs
  • Risk assessment and risk management in value decisions
  • Life cycle costing and total cost of ownership analysis
  • Financial metrics for measuring value

 

Unit 4: Implementation Strategies

 

  • Developing action plans for value improvement
  • Change management and stakeholder engagement
  • Implementing cost-saving measures without sacrificing quality
  • Monitoring and controlling Value Engineering projects
  • Continuous improvement and learning from feedback

 

Unit 5: Measuring Value Engineering Success

 

  • Key performance indicators for Value Engineering
  • Evaluating the impact of Value Engineering initiatives
  • Reporting and communicating value improvement results
  • Celebrating successes and recognising team contributions
  • Lessons learned and continuous improvement strategies
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Value Engineering
REF code: O-1034
Date: 09 - 13 Dec 2024
City: London
Language: English
Price: 4500 £

Course Description


Introduction

 

Welcome to the "Value Engineering" training course, developed by Cambridge for Global Training. Value Engineering is a systematic approach to improving the value of products, processes, and services by identifying unnecessary costs while maintaining or improving quality. 

 

This course aims to provide participants with the knowledge and skills needed to implement Value Engineering principles effectively. Through a blend of theoretical concepts and practical applications, participants will learn how to analyse processes, identify areas for improvement, and implement cost-effective solutions to enhance value.

 

Course Objectives

By the end of the course, participants will be able to:

 

  • Understand the principles and concepts of Value Engineering.
  • Identify opportunities for value improvement in products, processes, and services.
  • Analyse costs and benefits to make informed value-based decisions.
  • Develop strategies to reduce costs without sacrificing quality or functionality.
  • Implement Value Engineering techniques to maximise value for stakeholders.
  • Foster a culture of continuous improvement and innovation within the organisation.
  • Evaluate the effectiveness of Value Engineering initiatives through measurable outcomes.

 

Who Should Attend

 

  • Engineers and technical professionals involved in product design and development.
  • Project managers and process improvement specialists.
  • Procurement professionals responsible for cost management.
  • Business owners and managers seeking to improve efficiency and reduce costs.

Course Outline


Unit 1: Introduction to Value Engineering

  • Principles and concepts of Value Engineering
  • History and evolution of Value Engineering
  • Value Engineering job plan
  • Value Engineering in different industries
  • Case studies on successful Value Engineering projects

Unit 2: Value Analysis Techniques

  • Function analysis and value identification
  • Cost analysis and cost estimation
  • Brainstorming and creative problem-solving techniques
  • Value Engineering workshops and team collaboration
  • Benchmarking and best practice analysis

Unit 3: Cost-Benefit Analysis

  • Understanding cost-benefit analysis principles
  • Evaluating alternatives and trade-offs
  • Risk assessment and risk management in value decisions
  • Life cycle costing and total cost of ownership analysis
  • Financial metrics for measuring value

Unit 4: Implementation Strategies

  • Developing action plans for value improvement
  • Change management and stakeholder engagement
  • Implementing cost-saving measures without sacrificing quality
  • Monitoring and controlling Value Engineering projects
  • Continuous improvement and learning from feedback

Unit 5: Measuring Value Engineering Success

  • Key performance indicators for Value Engineering
  • Evaluating the impact of Value Engineering initiatives
  • Reporting and communicating value improvement results
  • Celebrating successes and recognising team contributions
  • Lessons learned and continuous improvement strategies
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