Value Management

Value Management can benefit an organisation wishing to improve the value of their products or services and hence improve their customer satisfaction and ultimately, profitability. Value Management is a very useful tool for driving the implementation of a continuous improvement philosophy.

Course Description

Working on the accepted principles that value is represented by the product or process functionality, divided by the cost of producing or performing the product or process; this course establishes the definition of function and cost. By the use of a case study and cross-functional teamwork, the delegates are taken through a systematic approach to maximising product or process value by identifying functions and their related costs, brainstorming potential value improvement opportunities and then evaluating the opportunities identified.

The Learning Gain

At the end of the course the delegates will be able to:-

	Understand the value formula: Value = Function Cost
	Be aware of and fully appreciate the definitions of value, function and cost
	Understand the need for a cross-functional team approach to successful value analysis projects
	Be aware of how to define and put a numerical weighting on product or process functions
	Understand the part played within Value Analysis of benchmarking and Supply Chain Analysis.
	Conduct a brainstorming session to identify value improvement opportunities
	Have an understanding of the processes used to evaluate value improvement opportunities.

Pre-Requisites

There are no pre-requisites for this course but a basic understanding of quality methodologies would be an advantage.

This course can also be run as an Application Workshop. Click here for details

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