Martyn R Phillips

Value Methodology Fundamentals Martyn R Phillips

A comprehensive, easy-to-follow training manual for a powerful value improvement process. Based on the SAVE International basic certification training course. Today, more than ever, there is a complexity of factors to be addressed and, typically, many stakeholders to be consulted when undertaking projects of any size, in any field. Application of the Value Methodology (VM) process fast-tracks a common understanding of the problems, potential solutions and related implications, together with guiding the consensus-building and decision-making processes. This guide focuses on training in the basics of the theory and application of the VM. The VM is the process through which value management (sometimes referred to as value analysis and value engineering) is achieved. It is well recognized as a unique tool for optimizing value and improving the functionality /quality of projects, products and services. Originally developed for improving production efficiency of industrial processes, the VM is now applied in several countries for a variety of management, design, construction, operational and maintenance applications. Areas of application of the Value Methodology: - Business Process Refocusing - Strategic Choice - Team Alignment & Resource Development - Project/Product Concept Development - Project/Product Design Value Improvement - Project Rescue / Turnaround - In-Service Systems / Processes Optimization. The value methodology (VM) assists in providing clear project direction, significantly reduced development and decision-making time, together with balancing life-cycle impacts and addressing project risks. This directly enhances teamwork and communication, as well as increasing stakeholder satisfaction and maximizing return on investment. The VM is a well-established process for improving functionality, lifecycle cost, project delivery time and consensus building. The value methodology clearly shows the decision makers the functions of various aspects, and their respective costs, so they can decide what should be eliminated, modified, or improved to provide the greatest value. This guide book has been compiled by a practitioner with a wealth of international consulting and training experience. It is intended for reference by: - Participants in the value methodology basic training module and those wishing to pursue VM certification credentials - Persons initiating VM studies - Persons responsible for VM study results - Persons participating in a VM workshop - Persons supporting a VM workshop (e.g. resource allocation or data provision) - Persons making long-lasting decisions on issues that will have far-reaching effects.