Value Engineering
Course Methodology
The course is interactive and is comprised of lectures, case studies, technical process learning and supplemental discussions related to various industries and the challenges of implementation.
Course Objectives
By the end of the course, participants 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
Target Audience
Engineering professionals who have at least three years of experience. Those include Maintenance Managers, Maintenance Supervisors, Maintenance Engineers, Operational Excellence Personnel, Reliability Engineers, Plant Managers, Engineering Managers, Manufacturing Managers, Production Managers, Operations Managers, Project Managers, Asset Managers and Quality Assurance Personnel.
Target Competencies
- Value Techniques
- Budget Analysis
- Life Cycle Costing
- Project Management
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
Introduction to 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
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
Speculative Phase Creativity
- Brainstorming
- Nominal group technique
- Cause and effect analysis
- Pareto charts
- Total Cost concept
- Life Cycle Costing (LCC)
Building on speculation
- The nature of information
- Elements of manufacturing cost
VE Workshop Team Projects
- Review VE plan of attack
Report format