Value Engineering. Contents are subject to change. For the latest updates visit Page 1 of 7

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1 Value Engineering Page 1 of 7

2 Why Attend Value Engineering (VE) is a conscious and explicit set of disciplined procedures designed to seek out optimum value for both initial and long-term investment. First utilized in the manufacturing industry over 70 years ago, it has since been widely used in other industries for many years. Value Engineering is not simply a design/peer review or a cost-cutting exercise. Rather, Value Engineering is a creative, organized effort, which analyzes the requirements of a project for achieving the essential functions at the lowest total costs (e.g. capital, staffing, energy, maintenance) over the life of the project. Through a group investigation, using experienced and multi-disciplinary teams, value and cost efficiency can be improved through the study of alternate design concepts, materials, and methods without compromising the functional and value objectives of the client/organization. Value Engineering can be applied at any point in a project, even in construction. Nevertheless, typically the earlier it is applied the higher the return on the time and effort invested. In most cases, Value Engineering identifies and removes unnecessary expenditures, thereby increasing the value for manufacturers and their customers. Course Methodology The course is interactive and is comprised of lectures, case studies, technical process learning and supplemental discussions related to various industries and the challenges of implementation. Course Objectives By the end of the course, participants will be able to: Implement Value Engineering in the workplace Increase asset reliability and availability to world class standards Reduce unscheduled downtime and production interruptions Reduce maintenance costs by 50-70% Learn global benchmarking standards Target Audience Engineering professionals who have at least three years of experience. Those include Maintenance Managers, Maintenance Supervisors, Maintenance Engineers, Operational Excellence Personnel, Reliability Engineers, Plant Managers, Engineering Managers, Manufacturing Managers, Production Managers, Operations Managers, Project Managers, Asset Managers and Quality Assurance Personnel. Target Competencies Value Techniques Budget Analysis Life Cycle Costing Project Management Course Outline Introduction to Value Engineering (VE) Objectives of Value Engineering When to apply Value Engineering Impact of Value Engineering Introduction to project scope Budget analysis Elements of the project budget Introduction to Value Engineering Value techniques The Total Value Management Concept VE phase relationships Value management in design Page 2 of 7

3 Classes of Value Types of Value When to apply Value Engineering Function evaluation Basic and secondary functions Function Analysis Systems Technique (FAST) FAST procedure FAST examples The Six-Step VE Job Plan Information Speculation Planning Execution Reporting Implementation Speculative Phase Creativity Brainstorming Nominal group technique Cause and effect analysis Pareto charts Total Cost concept Life Cycle Costing (LCC) Building on speculation The nature of information Elements of manufacturing cost VE Workshop Team Projects Review VE plan of attack Report format Page 3 of 7

4 Associations SMRP (Society of Maintenance and Reliability Professionals) : The Society for Maintenance & Reliability Professionals (SMRP) is a nonprofit professional society formed by practitioners to advance the reliability and physical asset management industry and to create leaders in the field. SMRP provides unparalleled value for individual practitioners looking to expand their knowledge and skills in maintenance and reliability and build more business connections with other practitioners. SMRP is the premier asset management resource for companies looking to improve their processes and procedures. As an SMRP Approved Provider, Meirc PLUS Specialty Training is recognized for best-in-class continuing education training courses in reliability and physical asset management. Location & Date Nov, 2018 Pullman Hotel JLT Mar, 2019 To be assigned Oct, 2019 To be assigned Fees: US$ (including coffee breaks and a buffet lunch daily) Per participant US$ 4200 Per participant US$ 4400 Fees + VAT as applicable UAE Tax Registration Number Page 4 of 7

5 Courses in Maintenance Planning and Asset Management Dates Course Name Nov, 2018 Certificate in Preventive and Predictive Maintenance US$ Dec, 2018 US$ Dec, 2018 Managing Shutdowns, Turnarounds and Outages US$ Dec, 2018 US$ Jan, 2019 Cost Effective Maintenance US$ Feb, 2019 Equipment Failure Analysis and Prevention Feb, 2019 Mastering Maintenance Audits 3-7 Mar, Mar, 2019 Reliability Engineering Excellence Mar, Apr, 2019 IAM Certificate in Asset Management Apr, 2019 Managing Shutdowns, Turnarounds and Outages Apr, 2019 Maintenance Planning, Scheduling and Control 28 Apr - 2 May, 2019 Certificate in Preventive and Predictive Maintenance Jun, Jun, 2019 Facility Planning and Management Jul, 2019 IAM Certificate in Asset Management 28 Jul - 1 Aug, 2019 Barcelona 1-5 Sep, 2019 Maintenance Planning, Scheduling and Control Sep, 2019 Equipment Failure Analysis and Prevention 6-10 Oct, 2019 Mastering Maintenance Audits Oct, 2019 Cost Effective Maintenance US$ Oct, 2019 Reliability Engineering Excellence 3-7 Nov, 2019 Managing Shutdowns, Turnarounds and Outages Nov, Nov, 2019 Facility Planning and Management Nov, 2019 IAM Certificate in Asset Management Nov, 2019 Language Location Fees Page 5 of 7

6 Courses in Maintenance Planning and Asset Management Dates Course Name 8-12 Dec, 2019 Certificate in Preventive and Predictive Maintenance Dec, 2019 Maintenance Planning, Scheduling and Control Language Location Fees Page 6 of 7

7 Courses in Maintenance Planning and Asset Management Dates Course Name Language Location Fees Page 7 of 7