There are many challenges that must be overcome to ensure projects are successful in achieving the minimum cost to utilise the necessary resources in the success of the project. Some projects fail to be completed as planned by not ensuring that project value is maximised.
Value management is a structured approach to defining what value means to the organisation and the project. It is a framework that allows needs, problems or opportunities to be defined and then enables review of whether the initial project objectives can be improved to determine the optimal approach and solution.
This course discusses the successful factors in implementing value management through facilitation and documentation data gathering processes. As a result, it shows that practitioners of value analysis should consider these important factors as a catalyst for increasing the value of projects.
· Understanding value
· Defining the project objectives
· Understanding the project stakeholders value perception
· Understanding Requirements, Deliverables and Scope
· Satisfaction of needs versus use of resources
· The phases of the value management methodology
· Defining the functions of the project
· Exploring creative solutions
· Evaluating the value proposition
· Value management tools: Delphi, SWOT, Life Cycle costing
· Six sigma and LEAN
· Facilitating value management sessions
· Getting the most from your team
· Value improving practises