Value Methodology Fundamentals Workshop

5 Days | 3.2 CEUs

Overview:

The SAVE International’s Value Methodology Fundamentals 1 (VMF1) course focuses on developing the initial basic Value Engineering skills. It is intended for people chosen to perpetuate facilitating future Value Analysis (VA)/Value Engineering (VE) Workshops within an organization.

The VMF1 is a 32-hour course delivered by a licensed Certified Value Specialist (CVS®) instructor, and contains lecture, discussion, practice and review to provide the core competencies aligning with basic value understanding.

What You Will Learn:

Upon completion of this course, the learner will be able to:

  • Identify what makes VA/VE different
  • Learn how to describe a design using functions
  • Build a logic map of functions, known as FAST Diagrams
  • Learn how to allocate cost to functions
  • Learn the systematic process to apply a formal VA/VE study
  • Understand the financial tools used in VA/VE
  • Learn to prevent the most common pitfalls in the application of the methodology
  • Learn how to prepare and gather information for a VA/VE study

Course Content

The course will cover the following topics:

  • Introduce SAVE International and PACE
  • VM Overview – The power of VA/VE
  • Value Methodology core competencies
  • Introduction to the Value Methodology
  • What is “Value”?
  • How VM and VEM (Lean, Six Sigma, Etc.) work together
  • Types of value
  • Reasons for unnecessary cost
  • History of the Value Methodology
  • Phase 1: Information Phase
    • Project Goals
    • Cost Model/ Costed BOM/ BOQ
    • Voice of the customer
    • Scope of Project and Constraints
  • Phase 2: Function Analysis Phase
    • Define functions and practice
    • Identify functions and practice
    • Classify functions
    • FAST Diagram and practice
    • Allocate resources to functions and practice
  • Phase 3: Creativity Phase
    • Ground rules for creativity
    • Brainstorming techniques
  • Phase 4: Evaluation Phase
    • Why do we need evaluation?
    • Evaluation techniques
  • Phase 5: Development Phase
    • Basic terms in financial analysis
    • How are proposals structured?
    • Life Cycle Cost Analysis (LCCA)
  • Phase 6: Presentation Phase
    • Propose and expected outcomes
    • Sample agendas
    • Guidelines for a successful presentation
  • STAGE 1 Pre Workshop
    • Planning the Workshop
    • Project Selection
    • Value Study Team
  • STAGE 3 Post Workshop
  • VM Job Plan Recap
  • SAVE International VM Certification

Certification

Professional certification for VM is administered by SAVE International®. Our instructors are licensed by the SAVE International® Certification Board to teach the Value Methodology Fundamentals 1 (VMF 1) and the Value Methodology Fundamentals 2 (VMF 2) courses.

Successful completion of this course allows you to sit for the SAVE International® Value Management Associate (VMASM) exam. There is an additional exam fee paid directly to SAVE International® to sit for the exam. You can learn more about the exam here.

CLASS CANCELLATION:

IISE reserves the right to cancel a class up to 15 business days prior to the scheduled start date

Registration Fee

Member: $1,400 Non-Member: $1,750

Course Schedule

Course ID: 4484 Mar 20 - 24, 2023 Norcross, GA Register

Course ID: 4485 Jul 10 - 14, 2023 Norcross, GA Register

Course ID: 4486 Oct 23 - 27, 2023 Norcross, GA Register