Target Value Design is a disciplined design management system that turns the traditional design process upside down. Unlike traditional design processes where teams often design in silos and the final cost is not known until after the tender, target cost design is a dynamic process that involves the contractors that are going to be doing the work.
Target Value Design (TVD) can by itself reduce the cost of a project by 15%. It results in tighter simpler designs, smaller factors of safety, less redundancy, significantly less change notices and minimal delays due to poor or incomplete information.
It involves establishing a clear target, developing fully integrated design solutions with the whole team that meet the requirements and testing assumptions to the requirements and cost. Simple as that!
Understand why we can have higher performance at less cost
How to integrate the design to achieve project requirements to target cost
Methods and tools to lean up the design process
Participants will learn the Target Value Design system, how to establish collaborative work environments and how to facilitate a design to meet requirement to the target cost.
Multi-party agreements will be discussed as well as how to manage shared risk and reward contracts.
In this four-hour work shop, you will be trained on the TVD process, tools and participate in the design of a project. Through collaborative and the adoption of lean and more integrated practices we will develop a conceptual DESIGN to meet the TARGET requirements at or below a cost that represents VALUE for the Owner.
The TVD design workshop includes groups of 6 to 8 people organized around building systems collaborating to deliver a best value project.
1. The first round of the simulation will include an assessment of the Project Requirements document and a testing of assumptions with the Owner’s representative.
2. This will be followed by a short pull planning session to plan the afternoon, establish milestones and deliverables.
3. The groups will then proceed with 20 minute refinements of design, followed by report outs on cost verses project requirements.
4. Finally, we will assess the project designs and the process.
The work shop will include training on TVD, setting up collaborative work environments, benchmarking team performance, lean design tools (3p, VSM, CBA) and how to manage team performance.