PM0436 : Value Engineering

This practical and highly-interactive course
includes various practical sessions and
exercises. Theory learnt will be applied using our
software tools.
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.