Introduction

This Value Solutions Ltd eLearning Value Management Foundation Course (in collaboration with Cyril Sweett and Impart Links) forms the first part of the Institute of Value Managements (IVM) requirements for becoming a Professional in Value Management (PVM). Learning objectives, as stated by the Institute of Value Management, are as follows.

At the conclusion of the course, participants should be able to:

• Fully participate in a Value Management study.
• Critically evaluate a study’s performance and results as part of a learning process.
• Identify areas of personal knowledge deficiency and plan corrective action.

Further learning objectives encompass:

• Human dynamics and team-working.
• Stakeholder management and communications.
• Value Management project initiation.
• Value Management methodology and standards.
• Value Management project participation.
• Value Management culture and its development.

The relationship of the Foundation Course in the overall IVM certification scheme is outlined below. For further information on the IVM certification process please see the IVM website.

The IVM certification process.

Course Structure

The eLearning Value Management Foundation Course has been structured to permit the self-learning of Value Management (VM) up to an awareness standard as stipulated by the IVM. The course is structured into modules which have to be completed in a sequential manner. Each module contains theory, examples and exercises for the student to study and complete.

This interactive learning document forms the first part of the course. The second part is a one day working session where students will experience first hand how Value Management tools and techniques are used in a workshop environment. The working day is structured around a comprehensive case study which serves to show how tools and techniques are used as well as highlighting team interactions and facilitation skills.

As part of this course the student will have to complete, prior to embarking upon the one day working session, a 1500 word assignment to demonstrate an appropriate knowledge of both Value Management theory and the case study which will be used during the working session.

This interactive learning document is structured into 3 sections and 10 modules as outlined below.

Module 1 is an introduction to the course which sets out the structure and explains how it is assessed. This module also covers eLearning and explains how it will be carried out.

Module 2 describes the development of Value Engineering (VE) and Value Management in construction and manufacturing as well as introducing national and international Value Management standards and the IVM certification system.

Section 1 – Value Engineering

Module 3 highlights the Job Plan, a fundamental part of Value Engineering and Value Management, as well as detailing Element Function Analysis.

Module 4 describes the Job Plan stages of Innovation, Evaluation and Development as well as some of their associated tools and techniques.

Section 2 – Value Management

Module 5 introduces how Value Management is carried out at a strategic level including detailing tools and techniques commonly applied at this level.

Module 6 details Strategic Function Analysis and how it is commonly carried out. Function Logic Diagramming is explained along with some other common techniques.

Module 7 covers the client’s value system and how to establish it as well as the reasons why it is crucial to get it right.

Module 8 investigates the most common intervention points for Value Management and Value Engineering on a project including outputs at each intervention point as well as the likely duration of workshops and participant number.

Section 3 – Facilitation and Team Dynamics

Module 9 highlights issues that affect facilitation including styles, environment, intervention points and project complexity.

Module 10 introduces teams and team dynamics and why Value Management tends to be carried out in a workshop format.

Section 1 is primarily concerned with Value Engineering i.e. the technical aspects of a project whereas Section 2 details Value Management i.e. the strategic aspects of a project. Section 3 prepares the students for the practitioner day session by looking at issues to do with teams and the facilitation of teams.

Note

To complete the course and receive the accredited Foundation Course Certificate students are required to complete a 1,500 word assignment as well as attend a 1 day workshop to experience the tools and techniques explained first hand. More detail on the 1 day session and the assignment can be found here.

Aide memoirs:

  Important information. Make sure you know this.

  Example that shows the theory in practice.

  Exercise - carry out the exercise before moving on.

The whole course can be read and printed out here.