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
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
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
- 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
- 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.
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.
- Associate Professor Roy Barton, University
- Ross Prestipino, Australian Centre for Value
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