Faithful+Gould Present at 2014 CSVA Value Symposium

Courtney Grill
As a corporate member of the Canadian Society of Value Analysis (CSVA), we were a major participant at the CSVA Value Symposium 2014 on November 17-18, 2014.

Chief Value Manager Scot McClintock and Lead Value Manager Tom Wiggins delivered a presentation entitled, "Intentional Value Management – Prevention Versus Cure."

The presentation discussed how the vast majority of Faithful+Gould’s value management (VM) services in the Americas encompass value engineering (VE) workshops that are conducted to “cure” a project design of cost overruns, lack of consensus, poor performance, or other issues. The same is true for our competitors in the value field. While we are very successful in these endeavors, VE workshops conducted at the end of a design phase can lead to redesign cost and schedule implications. However, VM can be used early and often within the planning and design process to prevent ever needing a cure.

Chief Value Manager Scot McClintock and Lead Value Manager Tom Wiggins delivered a presentation entitled, "Intentional Value Management – Prevention Versus Cure."

A “prevention” approach integrates VM in the design process, encouraging and empowering the design team to use the VM process as a tool throughout design. This paradigm shift uses VM up front in the project life cycle to clarify project goals, objectives and functions; define critical success factors and key performance indicators for the project; and get the owner, stakeholders and all design disciplines on the same road to success.

The message of the presentation was very well received, especially by those involved in project management. While this VM approach is common in Europe, it is quite rare in the Americas. This provides an opportunity for project managers, including those in Faithful+Gould and Atkins, to use this VM approach as a differentiator from our competitors. Tom and Scot both believe this approach will lead to improved project management success, resulting in return engagements from our clients. To those asking who will pay for VM, the answer is that cost benefit of avoiding these common design pratfalls pays for itself.

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