The Value Engineering training course by The British Academy For Training and Development develops practical skills for improving project value while maintaining required functionality, quality, performance, and compliance. The programme introduces systematic value analysis, functional analysis, engineering economics, and decision-making techniques used to evaluate project requirements, identify unnecessary costs, and improve resource utilisation.

Participants learn how to apply lifecycle costing, cost optimisation, and structured value-improvement techniques throughout project planning, design, procurement, and delivery. The course focuses on balancing cost, performance, quality, risk, and functionality to support better project decisions and measurable value outcomes. It is part of Project Management Training Courses under the Management category.

• Understand the principles, concepts, and applications of Value Engineering.
• Apply value analysis to identify opportunities for improving project performance.
• Understand the relationship between function, cost, quality, and project value.
• Use engineering economics to support project investment and design decisions.
• Apply lifecycle costing to evaluate long-term project costs and benefits.
• Identify opportunities for cost optimisation without compromising required functionality.
• Analyse project functions and distinguish essential costs from unnecessary expenditure.
• Develop alternative solutions that improve performance and resource efficiency.
• Evaluate design, procurement, materials, systems, and processes from a value perspective.
• Support multidisciplinary teams in structured Value Engineering studies.
• Improve project decision-making through systematic cost and functional analysis.

Target Audience

• Project Managers
• Project Engineers
• Value Engineers and Cost Engineers
• Design and Engineering Professionals
• Construction and Infrastructure Professionals
• Procurement and Contract Management Professionals
• Quantity Surveyors and Cost Consultants
• Project Controls Professionals
• Operations and Asset Management Professionals
• Technical Managers and Team Leaders
• Professionals involved in project planning, design, procurement, cost control, and optimisation

Module 1: Fundamentals of Value Engineering

• Principles of Value Engineering
• Purpose and objectives of value improvement
• Value, function, cost, and performance relationships
• Value Engineering versus traditional cost reduction
• Applications across project environments
• Principles of effective value improvement

Module 2: Value Analysis and Functional Thinking

• Value analysis
• Functional analysis concepts
• Identifying primary and secondary functions
• Function-cost relationships
• Function classification and evaluation
• Identifying unnecessary costs
• Developing functional improvement opportunities

Module 3: Value Engineering in Project Planning

• Value Engineering in project planning
• Defining project requirements
• Establishing value objectives
• Analysing project scope and specifications
• Early-stage value improvement
• Evaluating project alternatives
• Integrating value considerations into project decisions

Module 4: Engineering Economics for Value Decisions

• Engineering economics
• Economic decision-making principles
• Cost-benefit analysis
• Investment alternatives
• Present and future value concepts
• Economic evaluation of technical solutions
• Supporting project decisions with financial analysis

Module 5: Lifecycle Costing

• Lifecycle costing
• Capital costs and operating costs
• Maintenance and replacement costs
• Whole-life cost analysis
• Long-term performance considerations
• Lifecycle cost comparisons
• Evaluating total ownership costs

Module 6: Cost Optimisation Strategies

• Cost optimisation
• Identifying cost drivers
• Optimising materials, systems, and processes
• Cost-performance relationships
• Reducing unnecessary expenditure
• Balancing cost, quality, risk, and functionality
• Developing cost optimisation alternatives

Module 7: Value Engineering Workshop Methodology

• Value Engineering study process
• Information and preparation phase
• Functional analysis phase
• Creative alternative development
• Evaluation and selection
• Development of recommendations
• Implementation and follow-up

Module 8: Alternative Generation and Evaluation

• Value improvement alternatives
• Creative problem-solving techniques
• Generating alternative design solutions
• Technical and economic feasibility
• Risk and performance assessment
• Comparative evaluation of alternatives
• Selecting optimal value solutions

Module 9: Value Engineering in Design and Construction

• Value Engineering in design
• Design optimisation
• Materials and system selection
• Constructability considerations
• Construction methods and productivity
• Procurement and specification review
• Improving project functionality and performance

Module 10: Procurement and Contract Considerations

• Value Engineering in procurement
• Supplier and contractor involvement
• Value-based specifications
• Alternative materials and technologies
• Contractual considerations
• Evaluating supplier proposals
• Managing value improvement recommendations

Module 11: Measuring Project Value and Benefits

• Project value measurement
• Value performance indicators
• Cost and benefit measurement
• Quality and functionality assessment
• Risk and performance trade-offs
• Measuring realised value
• Monitoring value improvement outcomes

Module 12: Implementing Value Engineering for Project Success

• Value Engineering implementation
• Developing value improvement plans
• Prioritising recommendations
• Stakeholder approval and communication
• Implementation responsibilities
• Monitoring results and benefits
• Continuous project value improvement