Project Value Engineering

Over the past 50 years manufacturing businesses have been forced, through economic necessity, to constantly improve efficiency in their business operations. The methods and techniques that have evolved to deliver these improvements have been grouped under numerous headings such as lean manufacturing, six sigma, the Toyota system, total quality management and others. All these methods have the same basic goal; achieve process improvement by eliminating non value adding activities and reducing process variability.

We amalgamated these tools and methods into a holistic effective business focused approach which we call "Pcubed Value Engineering". Our approach can rapidly transform your organization into an agile, flexible and effective business capable to react quickly to customers constant changing demands, while increasing business profitability.

Pcubed Value Engineering is now regarded as a well proven methodology to deliver significant bottom line results in service and manufacturing operations. Our Value Engineering tools and techniques are already making their mark in non-manufacturing organizations by facilitating radical change and delivering significant benefits.

The tangible results of value engineering are well proven and measurable, and can be seen in areas such as:

  • Remove wasteful activities
  • Create a culture of transparency, efficiency and consistency
  • Optimize processes
  • Increase speed, productivity and quality
  • Accelerate change and growth in the organization
  • Improve ROI
  • Become a leaner and agile business
  • Higher customer satisfaction

Value Engineering : Pcubed's Approach To Accelerated Business Transformation

Based on the well established Pcubed Value Engineering methodology, we developed the Accelerated Business Transformation Approach. Our approach delivers results faster than any other existing method in the market today. To achieve Accelerated Business Transformation we identify the optimal value engineering method for engaging with clients, based on the individual needs of the client. The most commonly used approaches are:

  • Workouts : This is a focused activity which aims to make local process improvements or resolve specific problems / issues using value engineering techniques. Typically, this activity is undertaken in a few (3-6) weeks and results in quick wins for that specific area.
  • Business Area Optimisation : Applies value engineering techniques to a wider business area e.g. a department, a service or a product line. Value engineering tools are applied to the existing standard operating process without major re-engineering. Business Area Optimization can deliver significant benefits for the targeted areas over a period of several months duration.
  • Business Operations Transformation : Takes a broad view of a large slice of, or even the whole, organization, often part of a strategic transformation that results in a radical change to the organizations business processes and structures. The timescales involved are significant (12 to 24 months) but the organizational and business impact is substantial. Business Operations Transformation and Workout can be used in parallel to deliver strategic change in the long term and tactical 'quick wins'.

Accelerated Transformation Process

All the approaches mentioned previously, follow these key activities in order to achieve effective and measurable accelerated transformation:

  • Understand the business needs & customer expectations
  • Validate what is the actual situation and establish the base line
  • Carry out a GAP analysis and identify opportunities for improvement
  • Agree on realistic goals and develop a project plan to close the GAP
  • Estimate ROI and get project approval
  • Manage and Lead the Implementation
  • Confirm financial gains after the implementation phase
  • Sustain the gains and make change permanent

The following process steps are tried and tested and apply to Business Area Optimization and Business Operations Transformation to varying degrees.

Diagram : Pcubed Value Engineering

The Assessment Phase: determines the critical needs of the initiative and determines : the critical needs of the business; business sponsorship and support structures; goals and scope; success criteria and measurement; resource needs; potential road blocks and how to motivate people; risks; and benefits sustainability.

The Implementation Phase : prepares the organization for change, plans the deployment : and ensures that improvements are sustained.

Disciplined delivery is a vital aspect of implementing value engineering as many organizations have failed to realize the expected benefits. In many instances this is due to the lack of a disciplined approach to delivery and naturally leads to waste. Taking a structured and organized approach to the delivery of value engineering projects is a critical step to a sustainable initiative.

Whichever value engineering approach is used in the engagement Pcubed ensures that tangible and measurable results are delivered and sustained.