Advanced Estimating and Value Engineering Skills

Why Attend

Value, in its broadest sense, is the benefit to the client, offered by a project. Value Engineering (VE) is a creative, organized approach that enables providers of a product, service, or project to engage proactively with stakeholders to ensure that project value is optimized, life-cycle costs are reduced, and unnecessary costs are eliminated. The VE methodology emphasizes the return-on-investment aspect of decision-making in terms of benefits management during project planning, procurement, and execution. It enables design teams and organizations to identify and evaluate alternative ideas and solutions at any project phase avoiding wasted design and investment effort and delivering the best value solutions that meet client requirements. VE is not about selecting the cheapest option; rather, it is about realizing the best value for money and improving the productivity, competitiveness, and effectiveness of organizations in addition to stimulating innovation.

Overview

Course Outline

Schedule & Fees

Course Methodology

Instructor-led training that uses interactive learning methods, including class discussion, small group activities, and role-playing

Course Objectives

Understand the fundamental concepts of value engineering and how it supports effective project management by providing a continuous thread of good practice throughout the project development process; Gather and organize information and cost relevant to key elements of the project; Learn how to capture and incorporate stakeholders’ input in the development of the project charter and plan; Critically assess and evaluate the relationships among key attributes such as cost, value, and function; Report effectively to top management and project stakeholders in the context of proposing alternatives that improve the overall project value; and; Objectively present a convincing case in support of certain project alternatives

Target Audience

Target Competencies

n/a

Day 1

Framework for Applying Value Engineering in Projects

What is Value?
What is Value Engineering? Why is it important?
Defining Value Engineering concepts and principles
How and when is Value Engineering applied?
Project stakeholders analysis and management
Understanding teamwork and cross-functional Project Teams and team player styles

Day 2

The Function Analysis Phase - Expressing Project Functional Needs and Constraints

Overview of Different Value Engineering Phases / Job Plan
The Information Phase – steps and procedures
The need for Function Analysis in projects
Developing FAST Diagrams to identify critical project components and perform project value analysis
Defining project constraints – relationships and trade-offs
Aspects of Cost Estimating

Day 3

The Creative Phase - Inspiring Creativity in Your Project Team

Risk Management
Relationships between Value, Cost, and Worth
Facilitation skills
Creativity and Creative thinking within the project environment
Creativity techniques as applied to optimize project value
Blocks to creativity within the project team

Day 4

The Evaluation Phase - Making Informed Project Decisions

Reaching consensus and leveraging the power of project team collaboration
Idea selection
Evaluation methods and value criteria
Development phase
Techniques in problem-solving
Life-cycle costing analysis

Day 5

The Planning and Reporting Phases - Getting Results Through Effective Communication

Effective Decision-making in a project environment
Develop action plans and assign project roles and responsibilities
Reporting VE findings to Senior Management and project stakeholders
Integrating VE into the project process and Continuous Improvement and application at project initiation

$2875

Sharm El-Sheikh

Country: Egypt

Duration: One week

Date: 15–19 Sep 2025

$4475

Amsterdam

Advanced Estimating and Value Engineering Skills

Overview

Course Outline

Schedule & Fees

Course Methodology

Course Objectives

Target Audience

Target Competencies

$2875

Country: Egypt

Duration: One week

Date: 15–19 Sep 2025

$4475

Country: Neatherlands

Duration: One week

Date: 11–15 May 2026