Annual Workshop on Value Enhancement through Value Engineering

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Annual Workshop
on
Value Enhancement through Value Engineering
6 – 7th July 2018 at The Bengal Chamber
(Royal Exchange, 6, Netaji Subhas Road, Kolkata – 700001)

Introduction:

Value Engineering (VE) is a systematic approach aimed to achieve the desired function(s) of a product(s)/good(s), process(es), system(s) or service(s) at a minimum overall cost, without in any way affecting the quality, reliability, performance and safety. The Systematic applications of Value Engineering reduces up to 25 percent cost of manufacturing a product/good, constructing a project or providing a service. There are companies that have saved cost equal to 3% of their Sales Turnover through the Application of Value Engineering. 

Value Engineering is a versatile technique, developed and well used all over the world. It was developed during World War II by Lawrence D Miles, Executive – Purchase, General Electric Company (GEC) based in United States of America (USA). While many large industries have been using Value Engineering techniques for quite some time, the techniques could be equally used by Micro, Small and Medium Enterprises (MSMEs) in manufacturing and service sectors. 

With this perspective in view, The Bengal Chamber partnering Indian Value Engineering Society (INVEST) is organizing its eighth edition of the two full day Annual Manufacturing Workshop on “Value Enhancement through Value Engineering” between 6 – 7th July 2018 at 10.00 a.m. at The Bengal Chamber (Royal Exchange, 6, Netaji Subhas Road, Kolkata – 700001). The workshop is organized for industry professionals to enable them to have a detailed understanding on “Value Engineering and its various applications to industry” which would help them to excel in their respective functional domains resulting in further developments and growth of industry in the days ahead.

Towards organizing the above mentioned workshop, the Chamber would have the privilege of having senior faculty from INVEST, who are Practitioners of Value Engineering and Certified Value Specialists (CVS) from Society of American Value Engineers (SAVE), USA. Besides, they have proven academic record, rich industry exposure, expertise in teaching, consultancy, research and training, etc in the field of “Value Engineering and its Applications”. The brief profiles of the faculty are enclosed herewith along with the details of the workshop. The workshop would comprise of specific sessions, case-based real life problems, classroom exercises using laptops, etc for giving a detailed understanding/Knowledge on “Value Engineering and its various Industrial Applications”to the participants.  

Novelty of the workshop:

The workshop is designed for the participants to receive theoretical knowledge as well as practical applications/hands on training on Value Engineering – its techniques/practices, methodology, etc by using examples from their respective organizations.

The sessions on Value Engineering would be interactive and participants would be involved in different type of exercises during the sessions starting from “Understanding of Value”,“Identification of Functions through experiential Learnings and how to achieve the function with lesser cost”, “Creating out of box ideas for a given problem”,“Estimating Life Cycle Costing”, etc. All these would involve out of the box thinking and thus result in meaningful sessions. Besides, there would be “Case Study Presentations” on Value Engineering for providing better exposure to the participants.

Focus:

The focus of the workshop is to provide sufficient knowledge to the participants on Value Engineering - its techniques/practices and about its methodology, as well as its   real use practically in an organization, so that, an individual or an organization as a whole would be able to develop the imagination and achieve the function of a product/good, process, system or service with much lesser cost in their respective organizations.

Objectives:

The Objectives of the workshop are as follows:-

• Introduction and awareness of “Value Engineering Techniques” to the participants.

• To provide proper understanding to the participants on “How Successful Implementation of Value Engineering could benefit their organizations immensely” resulting in better efficiency, resource optimization, increased productivity, etc of their organizations.

The workshop gives the participants an unique opportunity to interact and get to know first-hand, how to systematically reduce cost and increase the value in their own organizations, there-by creating competitive advantage.

Methodology:

Value Engineering is a Step by Step organized effort by a multi-disciplinary team to identify the function of a Product(s)/Good(s) and /or service(s), then establish a monetary value for that function and finally meet the functional requirements through creative ways at lowest overall cost. It follows six steps namely Information, Function, Creativity, Evaluation, Development and Implementation.

This would be a two full day workshop with one hour of lunch break each day. The workshop would comprise of Presentations, Lecture sessions, Discussions, Group exercises and presentations, Case study presentations followed by other multi-media tools such as videos, animations, etc and an overall interaction amongst the faculty and participants.

The workshop would be conducted by eminent faculty from INVEST and they would give an in-depth knowledge on Value Engineering, especially towards its practices/techniques (applicable to Manufacturing and Service organizations), implementation of these practices/techniques, using step by step methodology, towards introduction and applications of Value Engineering to the participants which would result in successful implementation and improve competitiveness of their respective organizations. Besides and to give better exposure to the participants, the workshop would share the “Applications of Value Engineering” followed in different organizations which would help the participants to explore practicability of using Value Engineering in their respective organizations. As mentioned above, the faculty profiles are attached herewith for your kind perusal and better understanding.

Topics to be covered:

-      Historical Mile Stones 

-      The Value Methodology

-      Evolution of Value Analysis Methods and its Global widespread

-      Value Analysis, Value Engineering or Value Management 

-      Value as a “Basic Concept” 

-      Types of Value 

-      Types of Function

-      Function, Analysis, System, Technique (FAST) Diagram, F-C-W Analysis

-      Creativity, Rules, Blocks

-      Case excercises

-      Evaluation, Types of Evaluation, etc.

-      Presentation skills

-      Recommendations

-      Assessment of Results

-      Case Study Presentations 

Target Participants:

Since the workshop is on Value Engineering and its various applications, the target participants of the workshop would be from Manufacturing and Service sectors and it comprises ofSenior/Mid level Business Executives / Managers and Value Practitioners from Government, Private & Public Sector organizations, large scale organizations and Micro, Small and Medium Enterprises (MSMEs), Consultants and others relevant to the workshop. This workshop would help them to gain knowledge on Value Engineering and understand emerging trends in Value Engineering. This workshop would also help the participants to know the Strategies for Implementing Value Engineering in their organizations, then to interact, share and learn from the experiences of faculty and participants present in the workshop. 

Workshop deliverables:

-The workshop would help the participants to have a detailed understanding on Value Engineering (including the methodology to implement Value Engineering in an organization) which would really help the participants to successfully implement the techniques/practices of Value Engineering in their respective organizations.

- The participants could explore and get to know the benefits through successful   implementation of Value Engineering in an organization.

- The workshop would help the participants to Identify Potential Areas for Applications of Value Engineering in an organization.

- Last but not the least, the participants would get “Best in Class Value Engineering Concept” to be used for applying Value Engineering Practices/Techniques in their organizations.

Overall, the workshop would help the participants to learn the keys which would help in “Successful Applications of Value Engineering in Industry”resulting in further improvement of efficiency, increase in value of products/goods, processes, systems or services, increase in productivity, etc leading to further developments and growth of industry.

Registration:

Members and select non members are requested to attend this valuable workshop and provide significant inputs for the same. For registration purposes, we request you to confirm your registration through the enclosed “Ready Reply Form” or over email at ramit@bengalchamber.com;
arnab.roy@bengalchamber.com;
mriganka@bengalchamber.com  and ashok@bengalchamber.com  followed by a Cheque/Demand Draft of (Rs 20000/- all inclusive) per participant in favour of “The Bengal Chamber of Commerce and Industry, payable at Kolkata”. There would be a “discount of 10% on the total delegate fees for organizations nominating minimum 3(three) participants per organization”.

The draft programme structure, faculty profiles, a brief hand-out on Value Engineering, a brief on “About INVEST”, Letter to the Participants, Workshop Pre – requisites and ready reply form are enclosed herewith for your kind perusal and participation at the workshop.

Please note that the workshop is reserved for 30 participants only and participation would be considered only on “First cum First Serve” basis.

Kindly note that the Chamber would be giving a “Certificate of Participation” to the attending participants at the end of the workshop.

For any further clarification(s), please feel free to contact Mr Ramit Sircar, Assistant Director, BCC&I at +91-9830468951/+91-33-22130395(D)/+91-22303711/3733 or email atramit@bengalchamber.com, Mr Arnab Roy at +91- 8420747260/+91 - 9038620293) or email at arnab.roy@bengalchamber.com, Mr Mriganka Sekhar Gupta at +91 – 8981368323 or email at mriganka@bengalchamber.com and Mr Ashok Maity at +91 – 9903141144 or email at ashok@bengalchamber.com.

Looking forward to having you and your colleagues with us between 6 – 7th July 2018.

Yours faithfully,

Mr Debkumar Basu

Chairperson

Manufacturing & MSME Committee

The Bengal Chamber