Overview:

The SAVE International’s Value Methodology Fundamentals 1 (VMF1) course focuses on developing the initial basic Value Engineering skills. It is intended for people chosen to perpetuate facilitating future Value Analysis (VA)/Value Engineering (VE) Workshops within an organization.

The VMF1 is a 32-hour course delivered by a licensed Certified Value Specialist (CVS®) instructor, and contains lecture, discussion, practice and review to provide the core competencies aligning with basic value understanding.

What You Will Learn:

Upon completion of this course, the learner will be able to:

• Identify what makes VA/VE different
• Learn how to describe a design using functions
• Build a logic map of functions, known as FAST Diagrams
• Learn how to allocate cost to functions
• Learn the systematic process to apply a formal VA/VE study
• Understand the financial tools used in VA/VE
• Learn to prevent the most common pitfalls in the application of the methodology
• Learn how to prepare and gather information for a VA/VE study
  
  

Course Content

The course will cover the following topics:

• Introduce SAVE International and PACE
• VM Overview – The power of VA/VE
• Value Methodology core competencies
• Introduction to the Value Methodology
• What is “Value”?
• How VM and VEM (Lean, Six Sigma, Etc.) work together
• Types of value
• Reasons for unnecessary cost
• History of the Value Methodology
• Phase 1: Information Phase
• Project Goals
• Cost Model/ Costed BOM/ BOQ
• Voice of the customer
• Scope of Project and Constraints
• Phase 2: Function Analysis Phase
• Define functions and practice
• Identify functions and practice
• Classify functions
• FAST Diagram and practice
• Allocate resources to functions and practice
  
• Phase 3: Creativity Phase
• Ground rules for creativity
• Brainstorming techniques
• Phase 4: Evaluation Phase
• Why do we need evaluation?
• Evaluation techniques
• Phase 5: Development Phase
• Basic terms in financial analysis
• How are proposals structured?
• Life Cycle Cost Analysis (LCCA)
• Phase 6: Presentation Phase
• Propose and expected outcomes
• Sample agendas
• Guidelines for a successful presentation
• STAGE 1 Pre Workshop
• Planning the Workshop
• Project Selection
• Value Study Team
• STAGE 3 Post Workshop
• VM Job Plan Recap
• SAVE International VM Certification
  
  

Certification

Professional certification for VM is administered by SAVE International®. Our instructors are licensed by the SAVE International® Certification Board to teach the Value Methodology Fundamentals 1 (VMF 1) and the Value Methodology Fundamentals 2 (VMF 2) courses.

Successful completion of this course allows you to sit for the SAVE International® Value Management Associate (VMASM) exam. There is an additional exam fee paid directly to SAVE International® to sit for the exam. You can learn more about the exam here.