Value Analysis in Action
Cost Risk Assessment
Management of Value, UK Cabinet Office Best Practice

This course will provide participants with an understanding of Value Analysis and an appreciation of how to benefit by VA and how to participate in Value Analysis. Value Analysis is a facilitated and creative process that generates alternative solutions to problems. The solutions maintain or improve function (what something does), while at the same time maximize value. The process involves six distinct phases or steps. The process of Value Analysis takes place in a workshop format. This course will demonstrate that everyone can benefit from Value Analysis.
Target Audience:
Anyone interested in improving value, quality and cost of a project, product or service.
This is an introductory level course. People who have taken SAVE Module 1 should not attend.
After completing this course you will be able to: Define Value Analysis, List and describe the phases of Value Analysis, Identify and describe Value Analysis techniques, List the benefits to project team members and organizations, Develop an action plan to apply principles on the job.
Instructor: Stephen Holmes P.Eng.,CVS
Stephen Holmes is a Professional Engineer with the Ontario the Ministry of Transportation with extensive experience in the planning, design and construction of highway infrastructure. Stephen has coordinated the Ministry of Transportation’s VE program since 1999. The VE program has grown to become the leading VE program in public infrastructure in Canada, responsible for over $900 M in cost savings/avoidance and many changes that improved value. Under Stephen’s leadership, Ontario’s VE program has won awards from the American Associate of State Highway and Transportation Officials, and the Canadian Society of Value Analysis.
Stephen is a member of the American Association of State Highway and Transportation Officials (AASHTO) VE technical committee and is a director of the Canadian Society of Value Analysis (CSVA). In 2009 Stephen received a presidential citation from SAVE International for Value Improvement in Government. Stephen also led the development of an innovative new approach to Value Analysis training, and the course was awarded a Gold award from the Canadian Society of Training and Development in 2009.
Stephen Holmes graduated from the University of Waterloo in Ontario, Canada, with a BASc in Civil Engineering in 1985.
  • $150.00
Note: Separate registration is required for this course. Training course is not included in conference registration fees.
Duration: 1 day, Tuesday, October 23, 2012.

Schedule: 8:00 AM - 5:00 PM, 1 hour lunch from 12:00 PM - 1:00 PM.

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This course will provide participants with an understanding of the principles of risk analysis and how to undertake a quantitative or cost risk analysis.
Engaging in proactive Risk Management as a means to effectively drive change and action to control costs and manage schedule offers a means to enhance project and program delivery when considering areas of Value improvement in any related project, process, product, or organization. Risk Management and analysis of risk can be conducted as qualitative or quantitative frameworks. In either framework, the principles of enhancing overall project and program Value and delivering desired functionality at the optimal function, cost, and time components is achieved through effective management and proactive risk response mechanisms.
In a world of uncertainties that constantly exists every day, knowing the effective means and measures to identify, evaluate, respond, and ultimately manage risks helps to demonstrate a whole new basis of adding Value to projects. Deploying effective Risk Management into project management practices or performing such studies on a standalone basis requires specific knowledge. Recognizing this need, this course specifically addresses the latest techniques and tools being used in broad-based industrial practice that can add yet another effective tool into any professional’s project and program management repertoire.
This single day, 8 hour course will cover facets of Risk Management that aid in enhancing participant’s management tools and techniques across all industries. Topics covered will range from integrating Risk Management as a management tool, developing an effective risk management framework, qualitatively and quantitatively analyzing risk, observing economic uncertainties, developing a Risk Management Plan, to implementing active risk monitoring and control measures. This comprehensive course offers effective techniques that can be incorporated into any professional’s toolbox, regardless of whether or not Risk Management is the participant’s primary focus.
Outline of Course:
  1. Introduction to Risk Management
        a. Principles of Risk Management
        b. Qualitative Risk Management
        c. Quantitative Risk Management
  2. Sources of Uncertainty
        a. Performance, Cost, and Time 
        b. External Sources
  3. The Risk Management Process
        a. Risk Identification
        b. Risk Analysis
        c. Risk Response Planning
        d. Risk Monitoring and Control
  4. The Risk Management Plan
        a. Development of Risk Response Strategies
        b. Execution of Risk Response Strategies
        c. Updating the Risk Management Plan
        d. Accepted Risk Management Strategies
  5. Risk Modeling
        a. Use of the Washington State Department of Transportation (WSDOT) model
        b. Sample model development
  6. Course Wrap-up
        a. Recap of Risk Management Principles
        b. Questions and Discussion
  1. Copy of applicable Risk Management Software that is "Freeware" that can be used – [Washington State Department of Transportation (WSDOT) Risk Based Estimating Software (RBES)].
  2. Copy of training material, inclusive of discussion topics, space for note and information capture, and practice examples.
Items attendees must bring:
  1. A computer that has Microsoft Excel 2003.
  2. Pen and paper for taking notes (based on personal preference).
  3. An open mind and a willingness to learn effective industrial tools for incorporation into professional practice.
Instructor: Gregory Brink CVS, PMI-RMP, PMP, CCE/A
Gregory Brink is the Principal Economist and Director of Risk Management for Value Management Strategies and is a Certified Value Specialist, Risk Management Professional, Project Management Professional, and Certified Cost Estimator/Analyst with 10 years experience. Mr. Brink has pioneered many unique and innovative analyses performing risk analysis, risk management, financial and life-cycle costing analysis, forecasting, value analysis, and economic impact analysis on projects of all scale and scope. Mr. Brink’s specializations through the use of Value Methodology include quantitative/qualitative risk and uncertainty modeling and analysis, risk management, project management, financial analysis, economic analysis, market analysis, and economic forecasting for both private sector and government organizations. Mr. Brink’s experience includes working on infrastructure (particularly transportation) and vertical construction projects of varying scale and scope, ranging from a million dollars to multibillion dollar engagements.
  • $350 for the one day seminar.
Note: Separate registration is required for this course. Training course is not included in conference registration fees.
Duration: 1 day, Friday, October 26, 2012
Time: 8:00 AM - 5:00 PM, 1 Hour Lunch from 12:00 PM - 1:00PM
Introducing the key elements of the Management of Value (MoV®) guidance commissioned by the UK Cabinet Office as part of their Best Management Practice portfolio. The guidance is specifically designed for application at Portfolio (business), Programme, Project and Operational levels for use in the Public and Private sectors. The training will introduce the key principles, processes, techniques and other aspects to enable organisations to introduce the method use it and improve delivery on their major programmes and projects. It will also touch on its relationship with other Value Management methods and how it is integrated into the other Best Management Practice methods in the Cabinet Office portfolio.
Target Audience:
All those interested in improving performance on major programmes and projects in any sector. Previous knowledge and experience in Value Analysis or Management is not required but may be useful.
Learning Points:
After completing this course you will be able to describe MoV, understand and explain to others how it may be useful in your business and how to obtain qualifications at Foundation and Practitioner levels.
Instructor: Michael Dallas, MA (Cantab), MICE, FIVM, MAPM, Director APM (Association for Project Management) Group, London, the UK
Michael Dallas is a non executive director of APM Group Ltd., official accreditors of the Cabinet Office qualifications. He led the development, embedding and delivery of Value Management within Davis Langdon (now an AECOM Company) between 1997 and 2011, following ten years with Hanscomb (now Faithful and Gould). He is Lead Author and Chief Examiner for Management of Value (MoV®). Michael led the development of the European and British Standards in Value Management and the development of the European Training and Certification System. His book, Value and Risk Management - a guide to best practice, was published in 2006. He is a qualified trainer in Value Management (TVM) and has provided training to numerous organisations including Davis Langdon.
  • $50 
Note: Separate registration is required for this course. Training course is not included in conference registration fees.
Duration: 1/2 Day, Friday, October 26, 2012
Time: 8:00 AM - 12:00 PM