Value Management Unit

A graduate level course of study designed to develop competencies in the application of Value Management theory and practice.

What is Value Management?

Value Management is a way of working together to produce outcomes which demonstrate good value in programs, projects, systems, services or products. The process involves key stakeholders participating in structured, facilitated workshops and may be used to set objectives, develop strategies and plans or to evaluate current options. Value Management is used extensively both by governments and the private sector and has led to the achievement of substantial benefits.

Why Use Value Management?

The community demands value for money from government programs and projects. Customers seek value for money from their investments. Public and private sector organisations seek to maintain a competitive edge. Project Managers face increasing challenges in terms of project complexity, especially reflected in the need to consider a range of factors such as environment, culture and heritage. Value Management provides a structured way of addressing these and other challenges. It enables, for example, active participation of a wide range of stakeholders during strategic and conceptual planning.

Roles performed within Value Management

There are several roles performed under the banner of Value Management. For example, there is the role of managing the overall process of Value Management. Many organisations appoint one such person to manage their Value Management programs. Then there is the role of facilitating Value Management workshops. High-level facilitation skills are essential for this and a separate, additional course of study in Advanced Facilitation is offered for those aspiring to this role. Typically, an organisation will have one person at a very senior level who performs the role of "champion" of Value Management. Others play the role of independent technical experts. This course will be of benefit to those aspiring to any of these roles.

Learning Outcomes from this course

By the end of the course, it is intended that students will:

  • Gain an understanding of the Value Management process, its principles and techniques;
  • Gain an understanding of the roles and responsibilities of various value management participants and the inputs required from stakeholders;
  • Be able to recognise how Value Management can be applied to benefit their organisation;
  • Be able to develop organisational policy for the use of Value Management;
  • Be able to initiate, plan and participate more positively in a Value Management Study;
  • Be able to deliver a briefing session on the principles of Value Management to their organisationís senior management and clients.
  • Be ready to pursue further study in the theory and practice of Value Management facilitation (for those aspiring to become Value Management facilitators).

How does this course relate to other courses delivered by ACVM?

Each course of study may be taken as a stand-alone entity and has its own learning outcomes. There is, however, an overall program of Strategic Asset Management of which each separate course forms part. The award for this overall program is a Graduate Certificate and to qualify for this award, three courses of study must be completed. Those aspiring to Value Management practitioner status (as defined by the Institute of Value Management, Australia) are advised, in addition to this course in Value Management, to take the courses Advanced Facilitation and Major Application Project. Separate brochures are available for each course of study.

Who attends?

The course has been designed specifically for those aspiring to manage the process of Value Management and for those aspiring to facilitate Value Management workshops. The course to date has attracted students from wide ranging fields of employment and also from a wide range of employment positions from chief executives to relatively junior positions. Students come from federal, state and local government as well as from industry and commerce.

Presenters

  • Associate Professor Roy Barton, University of Canberra
  • Ross Prestipino, Australian Centre for Value Management.

Need More Information?

For more information contact ACVM

Strategic Asset Management