Course description
Value Engineering is not simply a design/peer review or a cost-cutting exercise. Instead, Value Engineering is a creative, organized effort which analyzes the requirements of a project for achieving the essential functions at the lowest total costs (e.g. capital, staffing, energy, maintenance) over the project's life.
The course offers a series of estimating techniques and processes to forecast the anticipated costs of projects with a focus on budget estimates accurately, estimates for pre-construction services, estimating contractor and sub-contractor work, estimating general conditions, pricing self-performed work, estimating negotiated contracts and performing lump-sum and unit-price estimates.
Upcoming start dates
Upcoming start dates
Suitability - Who should attend?
This course is suitable for 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, petrochemical, healthcare, education, legal and public services
Outcome / Qualification etc.
At the end of t Value Engineering & Cost Control Training course you will be able to :
- Implement Value Engineering in the workplace
- Increase asset reliability and availability to world-class standards
- Reduce unscheduled downtime and production interruptions
- Reduce maintenance costs by 50-70%
- Learn global benchmarking standards
Training Course Content
Day 1
Introduction to Value Engineering (VE)
- Objectives of Value Engineering
- When to apply Value Engineering
- Impact of Value Engineering
- Introduction to project scope
- Budget analysis
- Elements of the project budget
Day 2
Application in Value Engineering
- Value techniques
- The Total Value Management Concept
- VE phase relationships – Value management in design
- Classes of Value
- Types of Value
- When to apply Value Engineering
Day 3
Function evaluation
- Basic and secondary functions
Function Analysis Systems Technique (FAST)
- FAST procedure
- FAST examples
The Six-Step VE Job Plan
- Information
- Speculation
- Planning
- Execution
- Reporting
- Implementation
Day 4
Speculative Phase Creativity
- Brainstorming
- Nominal group technique
- Cause and effect analysis
- Pareto charts
- Total Cost concept
- Life Cycle Costing (LCC)
Day 5
Building on speculation
- The nature of the information
- Elements of manufacturing cost
VE Workshop Team Projects
- Review VE plan of attack
Request info
London Premier Centre
London Premier Centre is a UK leading training provider based in London and specialises in international short courses. Our inspiring, comprehensive portfolio of more than 400 professional development courses and seminars covers a wide range of professions from Administration, Leadership,...