VALUE ENGINEERING – COST REDUCTION AND QUALITY IMPROVEMENT

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
• VALUE ENGINEERING – COST REDUCTION AND QUALITY IMPROVEMENT