The Value Management process includes:
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.
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.
All participants in workshop:
The Program, Region and Agency role is:
The Design consultant team:
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:
The Independent Expert’s role includes, but is not limited to:
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: