Value Engineering Masterclass

Value engineering is a creative effort that mainly aims to increase the value for project owners and their clients, by analyzing project requirements and objectives, and striving to achieve them throughout the project’s time frame, besides identifying and removing unnecessary costs, which contributes Efficiently in reaching the greatest return on investment at the lowest possible cost, and achieving the required efficiency in decision-making processes. This training program is designed to provide participants with the relevant concepts on budgeting and cost control.

The training program highlights topics such as budgeting and cost analysis, Traditional vs. Advanced Techniques in Cost planning and control, and understanding the role of budgeting and cost planning in contemporary organizations. This training program will enable participants to master value engineering skills and implement them in their projects with a greater emphasis on the development of project scope, cost estimates, and budgets. Plus, this training program will enhance participants’ creative thinking, problem-solving, objective assessment, and decision-making skills to reach better management ability for their organization.

• Identify the essential concepts of accounting, budgets, and finance, and their role in setting budgets and controlling costs.
• Develop a budgeting process based on cost measurement.
• Master building and developing budgets according to the organization's nature. ✓ Master controlling the strategic costs.
• Master analyzing the relationship between cost, volume of production, and profits.
• Master the identification and development of cost management steps according to the organization's perspective.
• Integrate performance budgeting into the organization's budget formulation process.
• Gain a comprehensive understanding of the concepts of value engineering and its impact on effective project management.
• Assess and evaluate the relationships among key attributes such as cost, value, and function
• Gather and organize information and costs relevant to key elements of the project
• Report effectively to top management and project stakeholders in the context of proposing alternatives that improve the overall project value.
• Present a convincing case in support of certain project alternatives.