Seminar 7: Successful VM applications in Australia

Value Analysis is a useful technique to accomplish functions required by customers at the lowest cost through shifting the focus from the product or service components to its functions, no matter what these functions are. Through this seminar, Dr. Barton has introduced the concept that value management is not only an approach for cost and time saving, but also a useful technique for information communicating and knowledge sharing. Shared knowledge and understanding of purposes, benefits and important characteristics of the project among key stakeholders may probably be one of the most important benefits of value management, as it will establish agreement among stakeholders and make them work towards the same ends. At the end of the seminar, Dr. Barton concluded the essential elements for success implementation of value management study and some examples of value management applications.

Facilitator
Dr. Roy Barton  
Principal consultant, ACVM
Adjunct Professor, Institute for Regional Community Development, University of Canberra
Dr. Barton is a chairperson of the Australian standards committee on VM and a past president of the Institute of Value Management, Australian. He has extensive experiences as a senior academic, facilitator and organizational mentor for value management, risk management and partnering for both public & private projects nationally & internationally. During the seminar, he introduced the basic information of Value Management.

Summary of Content View Video

• Introduction
• A brief history of Value Management
• Value Analysis was introduced to Australia in the mid 1960’s.
• The Value Management in Australia (from 1960’s to the present).
• Function /cost principles
• All cost is for function.
• The concept of “value” and “value for money” as defined in the new Australian Standard on Value Management
• Multi-stakeholders for every project – multiple perspectives.
• Value of a product, process, service or system base on the purpose, benefits and importance in multiple perceptions.
• Workshop practical session – How to establish “value factors” in complex projects with multiple stakeholders
• Value Management success factors including the work plan
• Benefits of Value Management
• Some examples of successful VM applications
• A prescribed work plan;
• The mix and commitment of group members;
• Management of Value Management Studies;
• Senior management commitment and support; and
• Effective facilitation.
• A prescribed work plan;
• The mix and commitment of group members;
• Management of Value Management Studies
• Senior management commitment and support; and
• Effective facilitation.
  
• Conclusions

Useful linkage:
HK Gover’t: http://www.cedb.gov.hk/citb/ehtml/home.html
HKIVM: http://www.hkivm.com.hk
BCM: http://bcm.cityu.edu.hk
IVMA: http://www.value-management.com.au/a_profile/a3.htm
HKIS: http://www.hkis.org.hk/hkis/html/professional_cpd.jsp

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    Events Achieved:

Seminar Workshop Conference Seminar 12   Novel VM Applications in Europe Seminar 11   VM Trends in the United States Seminar 10   Information Analysis for Complex Projects Seminar 9   Innovative Application of the VM for Large, Complex Projects Seminar 8   Innovative VM Techniques in Complex Projects Seminar 7   Successful VM applications in Australia Seminar 6   Enhancing Value in Facilities by VM - Attracting Investment in China (in Xian) Seminar 5   Enhancing Value in Facilities by VM - Attracting Investment in South China (in Beijing) Seminar 4   Extending Your VM Business in China (in Shenzhen) Seminar 3   Sustainability/ LEED & Life Cycle Costing -Their Role in Value-based Design Decision-making (VM) (in HK) Seminar 2   Is Value Engineering successfully internationally? (in HK) Seminar 1   How can the value Management work in the HK construction industry? (in HK) Workshop 8   Formal VM Training Workshops (modeules I and II) for Construction Workshop 7   Key VM phase: Evaluation Analysis Workshop 6   Key VM phase: Creativity Techniques Workshop 5   Key VM phase: Function Analysis Workshop 4   Value Management for Design & Construction methodology & Application Module I - Training workshop (in Beijing) Workshop 3   Value Management for Design & Construction methodology & Application Module I - Training workshop (in HK) Workshop 2   A Key VM Technique: Function Identification (in HK) Workshop 1   VE "CMethodology & Application Module I" CTraining workshop (in HK) International Conference 2   Value Engineering for Construction Projects (VECP05) (in Korea) International Conference 1   Why Re-Invent the Wheel? (in HK)

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