Value Management Strategies

VMS’ Doug Leo Elected President of AACE

In AACE’s recent election, VMS Senior Cost Estimator Doug Leo was elected for a three-year commitment as President of the Board of Directors. Formerly known as the American Association of Cost Engineers, AACE is a professional society serving the total cost management community since 1956. Doug currently maintains several important total cost management certifications and designations, including Certified Cost Professional (CCP),  Certified Estimating Professional (CEP), and Honorary Life AACE Fellow (FAACE). He himself was part of the AACE task force to develop and streamline the CEP certification.

Doug has more than 30 years of total cost management, professional estimating, and project consulting experience. At VMS, Doug has been responsible for preparation, review, and validation of conceptual and detailed estimates for domestic and international capital projects ranging from $200,000 to over $10 billion in size. He specializes in capital projects of strategic importance, utilizing new technologies and innovating in parametric estimating methodologies.

Join us in congratulating Doug Leo. At VMS, we regularly see the benefits of Doug’s involvement in AACE for our Project Controls Group and look forward to many more years of his guidance, mentorship, and innovation in total cost management.

VMSPro® launches with fanfare from clients and consultants alike

VMSProIt comes as no surprise that VMS’ clients welcomed our latest innovation in value management, VMSPro®. The easy-to-use, comprehensive software was rolled out in recent VA/VE and decision analysis studies to resounding success. But more surprising, VMSPro® is piquing interest in business consultants from around the world. In fact, requests for demos have doubled as they discover how powerful VMSPro® can be in helping their own clients with custom business solutions.

To see the power of VMSPro® for yourself, visit vms-pro.com.

VMS primary contributor in VE/Risk Analysis Research for Project Delivery

VMS recently contributed to the National Cooperative Highway Research Program (NCHRP) Research Report 850, which investigated methods, techniques, and tools for the application of Value Engineering, Risk Analysis/Risk Management, Constructability Review to improve project delivery for transportation projects. This study included a set of seven training videos which provide instruction the VMS-developed Value Management System Tool. To read the report, visit the Transportation Research Board website.

VMS President Rob Stewart on the intersection of Project Management and Value

Rob Stewart was recently invited to discuss value management and its role in project management for an episode of the PM Point of View Podcast, produced by the Washington DC Chapter of PMI®. In it, he talks about his impressions of the pressures imposed on project managers to deliver projects while juggling various project constraints.

Rob describes how project managers drive value, but aren’t always the ultimate decision-maker. “Project managers tend to be champions of projects, but they may not always be in the right position to challenge the basic premise of a project,” he says. “We don’t ask why enough; we assume we understand why, when we really don’t.”

Value management – including value engineering, risk management, and performance management – offers a bridge between competing elements and stakeholders to deliver projects.

“You need a balanced platform to make informed decisions and to get the various stakeholders in alignment,” Rob says, “and that’s where value management plays a central role.”

Click to listen to the full PM Point of View Podcast episode, and contact us if you’d like to continue the discussion on how value management is critical to overall project management.

VMS launching VMSPro® Total Value Management System

VMS is pleased to announce the development of its new Total Value Management System, VMSPro®, launching in March 2016. VMSPro® is designed to help organizations manage their internal Value Management (VM) programs by managing the performance, cost, schedule and risks of their projects, products, and services and supporting Continuous Process Improvement (CPI) efforts. VMSPro® offers a suite of invaluable tools, including powerful decision modeling and options analysis; function analysis; risk analysis; creativity tools; VM alternative development; and implementation tracking and reporting. The web-based platform supports both live and virtual teams, perfect for large organizations that are geographically dispersed.

Stay tuned for a more detailed look into VMSPro™, or contact us for more information about VMS’s innovations in optimizing value for your organization.

VMS welcomes new Value Experts

VMS is starting 2016 with a rather big bang. We’ve added to our team several new team leaders, facilitators, and value experts to offer our clients specialized service covering an even more diverse spectrum of applications.

We’re pleased to welcome Jeff Rude, CVS®. Jeff has worked as a consultant, facilitator, and Value Specialist since 2003 helping public sector and private organizations manage and improve the value of their projects and ongoing operations. He is experienced in design and construction, product and service innovation, strategic investments, and cash flow optimization.

In addition, one of our long-time support staff members, April Hiller, has also recently been certified as a Value Specialist and will bring her 7 years experience at VMS to bear as a Value Manager.

VMS is also happy to welcome a new Assistant Value Manager, Allegra Keith. Allegra is currently pursuing a Masters in Organization Development and possesses several years experience at a former OD firm.

VMS looks forward to what will surely be a banner year of providing world-class service to our current clients and reaching out to new ones.

VMS Utilizes @RISK to Offer Clients a Roadmap to Managing Risk on Projects and Programs

Palisade, creator of the risk software and decision analysis software, recently interviewed Greg Brink, VMS’s Director of Risk Management and Economics, in a case study about how we’ve used @RISK software to guide clients in systematically identifying, qualifying, and quantifying risks while effectively communicating their potential impact on the project performance, budget, and schedule.

“Many of VMS’ clients are looking to deliver projects, implement processes or produce innovative products in specific verticals in a volatile and uncertain world. To successfully complete such projects, they turn to VMS to analyze the uncertainty and risk that exists in various projects and to develop risk response strategies and action plans that maximize opportunities and minimize threats. In this capacity, the VMS’ utilization of Monte Carlo simulation through @RISK helps to support the decision-making process, as well as offer a more granular understanding of the nature of uncertainties being characterized. Clarity of the likelihood and exposures of risks can help to minimize delays and maximize efficient deployment of capital resources.”

Click here to read the full case study and see how VMS is innovating in the realm of risk management.

VMS President Rob Stewart lends his voice in new video on Value Engineering

Rob Stewart, President at VMS, was asked to contribute to SAVE Internationals® short video presentation on the history of Value Engineering and how it can be utilized to create better projects, products, and business processes. “It focuses on the concept of functions. So rather than thinking about what things are, we think about what things do.” This is the core of VMS’s business practice and something we incorporate into our services for every one of our clients, whether in the public sector or the private sector. “That’s where the opportunity is:  to find ways to deliver the basic functions in a more efficient and effective manner.”

Rob also spoke on the value of membership in SAVE International®, which certifies each of VMS’s Certified Value Specialists (CVS®) and Designated Value Associates (DVA®). “[It] is the preeminent organization in the world that… establishes standards for practice, provides educational training, provides a forum for practitioners and organizations that engage in Value Engineering activities to exchange information, to share information and knowledge, and to find ways to enhance the methodology and enhance the profession.”

VMS leads VE study to reduce water utility energy costs in the US-Mexico border region

The Border Environment Cooperation Commission (BECC) has become a key promoter of efforts to reduce water utility energy costs in the US-Mexico border region. In the September 2014 issue of Water Utility Management International, BECC, Tetra Tech, and VMS look at how energy auditing of treatment facilities can help identify opportunities to make cost savings. Read the full article here.

Learn more about VMS and #ValueEngineering at #IMTS2014 in Chicago at Booth E3141

VMS Chairman Terry Hays & CEO/President Rob Stewart at IMTS 2014

VMS is proud to share 1.5 million square feet of floor space with some of the best, brightest, and most advanced innovators at the largest Manufacturing Technology convention in the western hemisphere  – IMTS 2014. We’re here to show all in attendance how Value Analysis and Value Engineering can improve business processes, design processes, and of course, the products and services offered by manufacturers, job shops, and suppliers of all types, sizes, and industries. Come by Booth E-3141  to find out we can help you improve your business.