Value Engineering – Cost Reduction and Quality Improvement

Course Code: EM12

Course Objective

  • 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

  • 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.

 

Course Outline

  • 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


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Date & Location

Date : 26 May 2019

Duration : 5 days

Place : Madrid

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Date : 15 September 2019

Duration : 5 days

Place : Kuala Lumpur

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Date : 17 November 2019

Duration : days

Place : London

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