PM0436-3D : Value Engineering and Management

This practical and highly-interactive course includes various practical sessions and exercises. Theory learnt will be applied using our state-of-the-art simulators.
This course is designed to provide participants with an overview of value engineering. It covers the value engineering (VE), fundamentals of value and function and phases of the value engineering job plan; the cost breakdown techniques, function worth, unnecessary costs and cost-to-function ratios; the VE in financial and infrastructure projects, function analysis system technique (FAST) and in-depth functional analysis; creating fast diagrams for real projects; the creativity in value engineering and creative phase techniques; and evaluating VE ideas and feasibility analysis, risk identification and stakeholder acceptance.
Further, the course will also discuss the application of VE to enhance service value; the customer-centric improvements and banking process optimization; the evaluation phase, lifecycle costing, value indexing and developing phase and recommendations; the proper reporting and documenting in VE and integrating VE into project management; building an effective VE team and facilitating a VE workshop; and the tools and techniques for value engineering.
During this interactive course, participants will learn the VE in procurement and vendor selection, information management, VE databases and software tools for VE planning; measuring VE success and KPIs by value index tracking, implementation metrics, cost avoidance versus savings and time and quality metrics; and the VE in bank-wide initiatives covering process optimization, customer service enhancement, policy review through VE and digital transformation cases.