Value Engineering

McGill Value Engineering Workshop

McGill Value Engineering Workshop is a course where students work with companies on a company problem to develop innovative solutions that increase satisfaction and reduce cost.

The Workshop offers you ways to:

• Improve your product service life or reliability
• Have your products, processes or systems perform fully, yet cost less
• Make profits through real dollar savings
• Train your staff to be cost- and value-conscious

What is Value Engineering?

Value Engineering is a systematic analysis method which, when properly applied to a product, process, or service, will reduce costs and increase profit margins. It involves creativity and challenges existing procedures, revealing successful new strategies. It is also known as Value Analysis. The results and techniques are the same.

What is different about our approach?

The McGill University Value Engineering Workshop is the only university course where company representatives sit together with senior Mechanical Engineering students to solve their common problem: a real-life project selected by the company. At the end of the workshop, each company has one or more specific solutions which will improve the value of the process, product, or service that was studied. The results are presented to company management both at a group session and in the form of a bound report.

What benefits will result?

An impressive track record has been logged during the 45 years this course has been offered at McGill, where 240 projects have been evaluated. The financial return is customarily measured over a five-year period, and is compared to the necessary investment, including the cost of sponsoring the workshop. In the year 2000 session, the combined five-year return for six projects was $15 million, accomplished with a total investment of $500,000. This represents a return on investment of 30:1. Another benefit of the workshop is that participants who wish to become Certified Value Specialists earn credit for one of two training courses required by the Society of American Value Engineers in their CVS accreditation program.

How is the workshop organized?

The sessions are held on the McGill University campus five Monday afternoons and evenings. The five sessions total 40 hours; in addition, there is a practice session and a final presentation for each project. Instruction is provided by Lucie Parrot, M.Eng., a Certified Value Specialist, who is a member of the Canadian Value Analysis Society and the Society of American Value Engineers (SAVE). She is experienced in value analysis training and value engineering studies in manufacturing, construction and the service sector. Along with Professors Paul Zsombor-Murray  and Vince Thomson of the Department of Mechanical Engineering, they share their many years of industrial experience with the workshop teams to apply value engineering methods to company problems.

What are typical projects?

In the Workshop, existing products are redesigned for reduced cost, better manufacturability, and/or improved maintainability. New products or services are designed. As well, processes are modified to improve product quality, reduce make time or accommodate new products. There are many possibilities.

Projects done in the year 2021:

• Connector optimization
• PC board enclosure
• Conveyor optimization
• Condensate water recovery
• Incinerator auto-load
• Electro-cooker optimization

How much does the workshop cost?

As demonstrated above, the workshop doesn't cost; it pays! McGill does, however, require a $4,500 fee for each company project. This represents the share of total expenses for professional support, workshop space, pre-printed notes, graphic materials, and the evening meal during the workshop sessions.

How do you and your company get involved?

The McGill University Value Engineering Workshop is held only once each year. Only 6 projects are done each year; so, it is important to reserve your place early. For further information, contact Professors Paul Zsombor-Murray or Vince Thomson. Or, if you prefer, send a letter with a cheque or valid company purchase order for $4,500 to the address below. (Please make your cheque payable to McGill University.) Registrations will be confirmed by e-mail or telephone.

Make this the year to take advantage of the unique savings that Value Engineering can offer you.

Please address enquiries or payment to:

paul [at] cim.mcgill.ca (Professor Paul Zsombor-Murray)
Department of Mechanical Engineering
McGill University
817 Sherbrooke St. West
Montreal, QC, H3A 0C3
Telephone: (514) 398-6311
Fax: (514) 398-7365

What companies have participated?

Below are some of the one hundred or more companies that have previously sponsored projects: