Value Management

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Definitions

2. The Value Management Process

The Value Management process includes:

The Value Management Process
The Value Management Process

The method relies on a workshop for key stakeholders, with an independent facilitator and expert managing the proceedings.

Six weeks should be allowed in the program to conduct the study from the appointment of Facilitator and Independent Expert to the acceptance of the report by the Project Control Group. A minimum of one day should be allowed for the VM study for projects of less than $5 million and at least 2 days for projects of more than $10 million.

Roles of Participants

It is critical that the CEO fully supports the outcomes of the Value Management study and makes a commitment to do so prior to the study being completed. The CEO should also ensure that all facilities and people required for the study are available. The roles of the participants in the study are summarised as follows.

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All participants in workshop:

  • Contribute to the generation of alternatives without criticism of formative concepts
  • Advise in the evaluation of ideas
  • Assist in the preparation of the action plan
  • May call on any resource for data and/or clarification.

The Program, Region and Agency role is:

  • To provide an overview of the objectives of the project
  • To present and provide input relating to the Service and Business Planning perspective.

The Design consultant team:

  • Provides information
  • Develops selected ideas into a working solution.

The Facilitator and Independent Expert do not need a detailed knowledge of the type of facility. The Facilitator and the Independent Expert are often two separate individuals with very different specific roles. The Facilitator’s role covers the following areas:

  • Advises on the participants and agenda for the workshop
  • Establishes the agenda and environment for participation
  • Encourages creative and lateral thinking
  • Outlines the design and construction process
  • Leads the value management study
  • Prepares the report
  • Develops an action plan.

The Independent Expert’s role includes, but is not limited to:

  • Taking action to become adequately briefed on the project
  • Challenging the assumptions held
  • Providing alternative views
  • Providing technical input into the process
  • Ensuring that the outcomes represent the best value
  • Participating in the workshop to analyse and consider issues
  • Providing an independent view of the project

Action Plans

The PCG considers the action plans that are proposed as a result of the Value Management study (and is expected to do so before approving the relevant Phase of the project).

All, some or none of the recommendations may be accepted. The VM report should cover the following:

  • Executive Summary
  • Introduction and Background
  • Participants
  • Key Issues
  • Action List which should be categorised into “Immediate Actions” and “Follow Up /Review Items”
  • Recommendations
  • Checklist.
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For information relating to this page contact: Capital Projects and Service Planning, Ph: 61 3 9096 2030, capital@dhs.vic.gov.au
Site authorised by: Director, Capital Projects and Service Planning

Last Updated: 6 April, 2010
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