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February 2021
Introduction to Value Management - Fostering Innovation

Learn about VM and the link to innovation by watching Past President Mike Pearsall and Rakesh Shreewastav present an Introduction to Value Management: Fostering Innovation to the Canadian Society for Civil Engineering. 

The recording can be accessed at this link. https://drive.google.com/file/d/1roqPOB6sfVZdycK360Q8c6yDRbO1-A4W/view


About this Event
Value Methodology, also known as Value Engineering (VE) or Value Management (VM) is a systematic and function-based approach to improving the value of products, projects, or processes. It uses a combination of creative and analytical techniques to identify alternative ways to achieve objectives.

Value Management involves a team of people following a structured process. This process helps team members communicate across boundaries, understand different perspectives, innovate, and analyze.

THE BENEFITS FOR AN INDIVIDUAL USING VALUE MANAGEMENT INCLUDE:

• A systematic approach to solving problems.

• Self-satisfaction from contributing ideas towards solutions and participating in an energetic workshop.

• Improvements in knowledge and abilities through cross-disciplinary expertise sharing.

• Participation in a transparent process that results in more informative decisions.

THE BENEFITS FOR AN ORGANIZATION USING VALUE MANAGEMENT INCLUDE:

• A Return of Investment typically ranging from 20:1 to 100:1.

• Cost savings while achieving required functions.

• Improved understanding of the project and validation of costs.

• Improved stakeholder engagement.

• Objective selection among competing priorities or solutions.