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Value Methodology Fundamentals 1 (VMF 1) Course Overview

Value Methodology Fundamentals 1 (VMF 1) Course Overview

The Value Methodology Fundamentals 1 (VMF 1) course provides an introduction and foundational overview of the ‘Value Methodology’, also known as Value Engineering. This approach focuses on improving the functionality, performance, and quality of a project, product, or system, while minimizing costs.
The course includes learning how to identify the essential functions of any product or system, determining its cost, and evaluating possible alternatives for achieving that function more cost-effectively without sacrificing quality, reliability, performance, or safety. It aims to equip participants with the tools to drive value in their organizations, increase innovation, and make strategic cost-saving decisions.
Users of VMF 1 could be individuals working in project management, engineering, construction, manufacturing, process design, consulting, and other fields concerned with optimizing value and reducing costs.
This course would help those professionals to:
1. Analyze any product or service from a functional perspective.
2. Identify and prioritize areas where cost reductions can be made.
3. Develop innovative alternatives that meet required performance and quality standards.
4. Make informed, value-based decisions.
5. Enhance their capabilities in project management and resource allocation.
6. Create value for clients by delivering higher quality projects and services at lower costs.
7. Obtain a recognized certification in Value Engineering.
8. Ultimately, this methodology can lead to higher profitability and competitiveness for organizations.

This is a Rare Course and it can be take up to 3 weeks to arrange the training.

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  • Live Online Training (Duration : 32 Hours)
  • Per Participant

♱ Excluding VAT/GST

Classroom Training price is on request

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Course Prerequisites

There are no specific prerequisites for the Value Methodology Fundamentals 1 (VMF 1) Training. However, it's recommended that participants have a basic understanding of project management, engineering, or construction, since the course covers how to implement value methodology in these fields. Technical knowledge is a plus, but not mandatory. Also, keep in mind that requirements might vary depending on the institution offering the training.

Target Audience

The ideal target audience for value methodology fundamentals 1 (VMF 1) training includes project managers, cost estimators, engineers, architects, and other professionals involved in project or product planning and development across diverse industries such as construction, manufacturing, technology, and others
It is also beneficial for financial and operational professionals who are keen on maximizing value and cost-effectiveness in their organizations
This course would also be valuable for individuals aiming for a Certified Value Specialist (CVS) certification
Further, consultants looking to enhance their strategic decision-making skills, facilitate value improvement, and implement innovative solutions for their clients can also profit from this training
Additionally, it can prove beneficial to individuals just starting their career in these fields to understand the fundamental concepts and value methodology and its application in real-world scenarios

Learning Objectives of Value Methodology Fundamentals 1 (VMF 1)

The VMF 1 Training provides a comprehensive understanding of the Value Methodology. During this training, participants will recognize the application of VM in managing costs, improving products, processes, and services. Learners will gain the ability to employ the job plan to achieve project objectives and make effective decisions. They will also understand how to utilize function analysis to identify functions and develop creative approaches. By the end of the training, they will be able to use the evaluation phase to select ideas and develop them into workable solutions. An important objective is developing skills in preparing and presenting a VM recommendation, to promote maximum utilization of resources for achieving optimal value. It also enhances critical thinking and collaborative problem-solving skills.