T-264 - Basic Value Engineering
Introduction
The course explains what is involved in applying Value Engineering (VE) in practice on oil & gas development projects.
Value Engineering is a well-proven technique for optimising value in a wide range of industries. It is applied in Civil Construction, Naval Engineering, Manufacturing and Project Developments.
VE is one of the Value Improving Practices (VIP’s) recommended by benchmarking organisations such as IPA and it has demonstrably proved it can improve project performance in the Oil & Gas industry. VE is primarily used during the first few development phases (the Front-End Loading) of a project.
The course will cover the background and basic theory of Value Engineering including Functional Analysis System Techniques (FAST) as it is used in VE.
The basic workshop techniques used to apply VE in the Front-End phases of projects will be covered and some examples worked through.
Designed for
- Graduates from universities or technical colleges with up to 10 years work experience.
- A project team member who is likely to be engaged in a value improving exercise on a project.
- A Facilities, Process or Project Engineer, either a Graduate or a more experienced Technical Professional, looking to broaden your understanding of how Value Engineering is applied in project developments.
- A Project Manager who seeks an understanding of how Value Engineering can be used to improve project values.
- An Operations Engineer or Sub-Surface Engineer seeking to broaden your knowledge of advanced project development techniques.
Objectives
By the end of the course you will have seen how the technique of Value Engineering can be applied in the oil & gas industry.
You will appreciate how versatile the VE technique is and why it uses the term ‘Value’ rather than ‘Cost’.
You will see how important is the preparation work before a VE exercise, particularly getting the key project stakeholders to define what Value they wish to optimise.
You will have an understanding of what it takes to implement VE in a project workplace and what are the optimal stages to apply the technique in a project lifecycle.
Competences addressed
- The history of Value Engineering
- Functional Modelling
- The Value Engineering technique as applied in the Oil & Gas Industry
- Preparation for a Value Engineering exercise
- Conducting a Value Engineering exercise
- The Value Engineering Workshop
- Success Factors in Value Engineering
Duration
3 days
Notes
The course links theory to application. It reinforces this through real industry problems and examples which are solved by the participants as part of the sessions.
The course is highly interactive and participants are encouraged to share their own experiences and problems to the benefit of all.
This course can be arranged for delivery at the client’s location and can also be tailored to the client’s wishes if desired.
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