Global Learning for Operational Leaders
Course ME-004
Value Engineering
Value Engineering (VE) is a conscious and explicit set of disciplined procedures designed to seek out optimum value for... The outline covers Introduction to Value Engineering (VE), Introduction to Value Engineering, Fun...
Introduction
Course overview
Why Attend
Value Engineering (VE) is a conscious and explicit set of disciplined procedures designed to seek out optimum value for both initial and long-term investment. First utilized in the manufacturing industry over 70 years ago, it has since been widely used in other industries for many years.
Value Engineering is not simply a design/peer review or a cost-cutting exercise. Rather, Value Engineering is a creative, organized effort, which analyzes the requirements of a project for achieving the essential functions at the lowest total costs (e.g. capital, staffing, energy, maintenance) over the life of the project. Through a group investigation, using experienced and multi-disciplinary teams, value and cost efficiency can be improved through the study of alternate design concepts, materials, and methods without compromising the functional and value objectives of the client/organization.
Value Engineering can be applied at any point in a project, even in construction. Nevertheless, typically the earlier it is applied the higher the return on the time and effort invested.
In most cases, Value Engineering identifies and removes unnecessary expenditures, thereby increasing the value for manufacturers and their customers.
Course MethodologyThe course is interactive and is comprised of lectures, case studies, technical process learning and supplemental discussions related to various industries and the challenges of implementation.
Course ObjectivesBy the end of the course, participants will be able to:
- 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
Engineering professionals who have at least three years of experience. Those include 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.
Target Competencies- Value Techniques
- Budget Analysis
- Life Cycle Costing
- Project Management
What you will achieve
Learning objectives
- 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
Who should attend
Target audience
- Engineering professionals who have at least three years of experience. Those include 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.
- Target Competencies
- Value Techniques
- Budget Analysis
- Life Cycle Costing
- Project Management
Methodology
Learning approach
- The course is interactive and is comprised of lectures, case studies, technical process learning and supplemental discussions related to various industries and the challenges of implementation.
Course content
Course outline and key learning areas
Module 1
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
Module 2
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
Module 3
Function evaluation
- Basic and secondary functions
Module 4
Function Analysis Systems Technique (FAST)
- FAST procedure
- FAST examples
Module 5
The Six-Step VE Job Plan
- Information
- Speculation
- Planning
- Execution
- Reporting
- Implementation
FAQ
Frequently asked questions
What does Value Engineering (ME-004) cover?
This course covers Maintenance and Engineering through a structured five-day outline focused on practical application, discussion, and implementation planning.
When is the next available session?
The next scheduled session starts on 15 - 19 June 2026, with additional classroom dates and mirrored Online / Live options listed in the course schedules section.
Who should attend this course?
Engineering professionals who have at least three years of experience. Those include 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., Target Competencies, Value Techniques
How can I register for a session?
Use any Register button next to the available course dates to open the participant registration page and submit your booking request for the selected session.
Is this course available online as well as classroom-based?
Yes. The course detail page includes both classroom sessions and Online / Live sessions, with online options aligned to the same course dates for easier planning.
Where are classroom sessions delivered?
Current classroom venues include Vienna, Barcelona, Paris, Frankfurt, Rome.
Still Have Questions?
Contact the academy team for course details, delivery options, and delegate guidance.
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