Foundation in Value Management (VM)

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Course Overview

Value Management (VM), is a rigorous process of group based decision making based on value and function, achieving best value for a project or process by defining and controlling those functions required to achieve the value objectives, and delivering them at least cost.

VM, incorporating Value Engineering, is part of the APM's Body of Knowledge and a core tool for Project Managers of all disciplines.

The emphasis of the fopundation in Value Management course is on developing an overall understanding of the processes and techniques of Value Analysis through exercises, discussion and presentation; so that the participants will be enthusiastic about wanting to proceed further and confident in their ability to act, at least as a competent co-facilitators of a Value Management study.

Value Management gives confidence in the quality of management and decision making and improves project management by addressing all the potential pitfalls to effective project delivery.

Audience

This training appeals to a broad range of managers across the public and private sectors:

Including business managers, project managers, risk managers, construction cost managers, decision takers and architects. The Foundation Course is limited to 12 participants. Some people find this course is sufficient for their needs.

Skills Gained

By the end of the course, delegates will:

• Understand the basic history, concepts and methodology of Value Management;
• Have practised the basic Value skills and will understand their application to everyday management situations
• Be able to act at least as co-facilitators for a VM study
• Be able to proceed to the Advanced VM training to becoming qualified leaders of VM studies after which the Institute of Value Management's
• 'CVA' and 'PVM' qualifications may be applied for

Materials

Delegates will receive:

• Pre-course study pack
• Course manual

Course Outline

This highly interactive and participative course covers the following areas:

• Business processes and needs
• Value and the Value culture
• Value Management study processes
• Value Management methods and tools
• Function analysis
• Management of a VM study
• Facilitation of Value Management
• Team dynamics
• International and National practice