Value Engineering Mastery: Tools for Efficiency and Innovation
Introduction
This programme is designed to equip participants with advanced skills in **Value Engineering (VE)**—a structured, creative approach that enables organisations to achieve optimal project outcomes by aligning stakeholder requirements, maximising innovation, and delivering best value solutions. Participants will learn how to make more **robust, effective decisions** throughout project planning, procurement, and execution by focusing on **performance, cost, and worth** rather than cost alone.
Through practical exercises, case studies, and facilitation tools, this course emphasises improving performance, profitability, quality, and risk management. By integrating VE with project management processes, participants will leave with the ability to deliver **strategic benefits** and achieve **greater efficiency and innovation**.
Objectives
By the end of this programme, participants will be able to:
* Apply **value criteria** to make better project decisions.
* Identify **value mismatches** through whole-life costing.
* Capture and incorporate **stakeholder input** into project charters and plans.
* Use **function analysis and FAST diagrams** to clarify scope and performance needs.
* Inspire **creative thinking** to generate innovative alternatives.
* Conduct **life-cycle costing, risk, and scenario analyses** to evaluate solutions.
* Prepare and communicate **VE proposals** that drive measurable results.
Course Content
**Day 1 – Framework for Applying Value Engineering in Projects**
* Defining Value and Value Engineering principles
* When and how to apply VE effectively
* Stakeholder analysis and management
* Identifying the relationship between **value, cost, and worth**
* Overview of the **Value Engineering job plan phases**
**Day 2 – The Function Analysis Phase**
* The Information Phase: steps and procedures
* Developing the VE Job Plan
* Defining project constraints
* Function Analysis and Function-Cost-Worth methods
* Building FAST diagrams to identify critical project functions
* Cross-functional collaboration in VE
**Day 3 – The Creative Phase**
* Creativity and innovation in VE
* Creative thinking techniques and tools
* Leveraging collaboration and consensus in teams
* Identifying priorities through paired comparison
* Linking creativity to risk perception and project outcomes
**Day 4 – The Evaluation Phase**
* Project evaluation methods and decision-making frameworks
* Performing risk and scenario analyses
* Life-cycle costing and incremental benefit-cost analysis
* Balancing competing value criteria
* Outputs and benefits of the evaluation phase
**Day 5 – The Planning and Reporting Phases**
* Developing and assessing VE proposals
* Action planning and assigning responsibilities
* Reporting VE findings to leadership and stakeholders
* Embedding VE in early project phases
* Integrating VE with **continuous improvement and project management systems**
Who Should Attend?
This course is ideal for:
* **Project Managers and Engineers** involved in project planning, design, or execution.
* **Procurement and Supply Chain Professionals** responsible for cost optimisation.
* **Business analysts and financial planners** engaged in feasibility and life-cycle costing.
* **Quality, Risk, and Performance Managers** seeking to enhance efficiency.
* **Senior Managers and Decision-Makers** aiming to drive innovation and maximise organisational value.
Enquiries and Registration
Enquiry at : admin@keleaders.com
Whatsapp: 0044 790 125 9494
For more details visit our website : www.keleaders.com
