By the conclusion of the specified learning and development activities, delegates will be able to demonstrate a heightened understanding of the following concepts and issues:
- Introducing value engineering
- What is value engineering?
- Value engineering history
- 5 precepts of value engineering
- Addressing the problems through value engineering
- Benefits of value engineering
- The reasons for unnecessary costs
- When to apply value engineering
- How is value engineering done?
- concept of value
- VE methodology and techniques
- Variations in cost
- Interface with other programs
- Demonstrated impact of VE.
- Value engineering practical applications
- Project scope and budget
- Elements of the project budget
- Prevalent budgeting techniques
- Contingency amount
- Cost control
- Defining project scope
- Parameters and parameter cost.
The capitalized income approach to project budgeting (CIAPB)
- Measuring property value
- The meaning of capitalization
- the capitalization process
- The need for cost control.
- Cost modelling and planning for value engineering services
- Preparation for cost models in advanced value engineering
- Introduction to cost models
- Making models
- Construction cost models
- Other Resources
- Types of models.
- Planning for advanced value engineering services
- Value engineering objectives
- Level of effort
- Value engineering and total project management
- Team selection
- The value engineering job plan.
- Advanced value analysis phases
- Phase 1 – information phase
- Phase 2 – function phase
- Phase 3 – creative phase, Idea stimulator checklist.
- Phase 4 - analysis/judicial phase
- Analysis/judicial phase: analysis/development
- Analysis/judicial phase: analysis/evaluation.
- Phase 5 - recommendation
- Phase 6 - presentation and implementation.
- Advanced value engineering case analyses
- Case study 1 - corporate office building
- Case study 2 - hospital and case study complex
- Case study 3 - refinery facility
- Case study 4 - master planning competition
- Case study 5 - application to design review government/headquarters complex
- Case study 6 - highway project: south interchange
- Case study 7 - wastewater treatment plant.