INDIAN VALUE ENGINEERING SOCIETY

(INVEST)

Manual for
INVEST Certification programs
on
‘Student Value Practitioner’ (SVP)
‘Senior Value Analyst’ (SVA)
‘Professional Value Analyst’ (PVA)

Guidelines - Policies - Procedures - Examples

1st Edition – Effective 14th Sept, 2021
Issued By: INVEST Certification Board (ICB)

Note:
The ‘SVP’ (Student Value Practitioner), ‘SVA’ (Sr. Value Analyst), ‘PVA’
(Professional Value Analyst’) are the certification programs offered by
INVEST, India. This certification can be used by those individuals only who
have successfully fulfilled the requirements of these certification programs
and maintain their certification as active on date. The manual will be
updated time to time for improvements and addition of other certification
programs.

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 Content

Topic Page Number

Certification Program Objectives 3 of 11

Overview 3 of 11

Certification Requirements 4 of 11

Course Objectives 5 of 11

Course Syllabus VMT1 5 of 11

Reference Material 7 of 11

INVEST Certification Program Details 9 of 11

Website of INVEST 11 of 11

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Certification Program Objectives:
The INVEST National Council has launched a certification program designed and administered by
the INVEST Certification Board with the following objectives:

1. To encourage and support dissemination of proper Value Methodology in colleges and

institutes in all disciplines.
2. To transfer knowledge of Value Methodology in the national context of Indian business
environment.
3. To establish, maintain and administer professional certification programs for promoting and
supporting the practice of the Value Methodology, at all levels, nationwide.
4. To establish, maintain and develop professional skills and competence in the Value
Methodology for the New-normal environment
5. To promote research, development and innovation in Value Methodology techniques and
applications by the Value practitioners.
6. Enforce standards for ethical practice as established by the INVEST National Council

All questions regarding Certification should be directed to the INVEST Certification Board
Administrator on E mail: invest@certificationboard.in

Overview
Based on the requirements set forth in this manual, individuals should decide which level of
certification is applicable to them. INVEST Certification Program offers three levels of
certification:

The level: ‘SVP’ (Student Value Practitioner).

SVP is a recognition designed for the students in various educational institutes, colleges &
universities and new to the Value Methodology. They should have clear understanding of VM
concepts, its importance and usage in practical life. One must be able to appreciate that only
‘Cost Reduction’ is not the objective of VM but to improve the ‘Value’. A ‘SVP’ is encouraged to
progress to higher level of certification.

The level: ‘SVA’ (Senior Value Analyst).

‘SVA’ should be able to understand the VM concepts and how to use them for various
applications. Individuals with this certification should be able to teach VM to students (after getting
Instructor License from ICB) and employees of an organization, practice & propagate VM. A ‘SVA’
is encouraged to progress to higher level of certification.

The level: ‘PVA’ (Professional Value Analyst)

‘PVA’ should be able to apply the concepts and techniques of VM to improve the products or
services of his/her company / client. Can speak on and propagate VM within and outside his /her
organization but not as an instructor / trainer for SAVE or INVEST approved Certification
Programs / workshops. A PVA is encouraged to progress to higher level of certification. i. e. CVA.

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As mentioned earlier, INVEST and its Certification Board is launching ‘SVA’, ‘SVP’, ‘PVA’
certification to begin with. Programs like CVA will be launched subsequently.

NOTE: All application and appropriate documentation once submitted become the property of
the INVEST Certification Board. It will be the policy of the INVEST Certification Board to not
return or share any application materials.

Certification Requirements
General: The quantifying experience and educational requirements for each level of
certification are given below:

1. Student Value Practitioner (SVP):

1. Must be a Student Member or Life Member of INVEST

2. Complete the INVEST Approved Training Course VMT-1 as part of the college curriculum.
3. Trainer should be an approved CVS or SVA.
4. Submit Application
5. Submit certification fee as mentioned in the application form
6. Submit Completed Project / Submissions on VM
7. Pass examinations as per college/university guidelines.

1.1 Student Value Practitioner (SVP) Certification Program Details:

This certification program is recommended for Diploma, Graduate and Post Graduate students,
as part of Production, Mechanical, Electrical, Civil, Computer Science, IT, Electronics and
Telecommunication, Textile or any other stream syllabus in Engineering, Non-Engineering
Colleges and Management Institutions. This could be taught in Semester 7 or 8 or final year of
diploma, degree or post -graduation as suits the college or Institute and interest of students.

University, College or Institute must sign a MOU with INVEST for inclusion of SVP Certification
program as part of Value Engineering subject in curriculum. Refer INVEST website or contact
ICB Administrator for more information and forms.

This Certification Program will be part of Value Analysis/ Value Engineering / Value
Methodology/ Value Management or VAVE as an Elective Subject or Compulsory subject.

No. of hours allocated: 40 (20 hrs learning, 20 hrs project work / Submission or as required).
Classroom sessions to be decided by Instructor and college to suit students and faculties.

1.1.1 Instructors / Teaching Faculties: CVS (Certified Value Specialist) or SVA (Senior Value
Analyst) having ICP (INVEST Certification Program) Instructor License can conduct this course

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and hold the exam. This CVS or SVA Instructor/faculty has to submit Declaration Form for
VMT-1, VMT-3, VMT-4 as applicable with ppt and other documents to ICB for formal approval,
in the prescribed Instructor License Application Form. And keep ICB informed on courses
planned, completed at various colleges, institutes, universities. ICB may depute representative
to such colleges, institutes, universities to discuss with trainer, faculties and students for getting
the feedback for further improvements.
1.1.2 Course Objectives:
Have clear understanding of VM concepts, its importance and usage in practical life. Will not
misunderstand and propagate cost reduction as VM in future. This technique is expected to
improve problem solving competency, improve job potential and can help throughout the
career, anywhere, in any field.

1.1.3 Expected Course Outcomes:

At the end of the course, the student shall be able to:
1. Discuss the concepts of Value, how to improve Value and its importance from
business point of view
2. Value Engineering definitions, terminologies, advantages and applications.
3. Discuss phases of Value Engineering Job Plan. Analyze and classify the functions.
Assign cost and determine the worth and value gap. Prepare Function Cost
Resource Matrix. Understand and prepare FAST diagram.
4. Identify potential areas for application of Value Engineering / projects.
5. Demonstrate use of Value Engineering thro’ a small project.

1.2 Course Syllabus (VMT-1)

Part-I: Value Methodology theory with exercises

Typical Classroom Sessions:

Classroom Session-1 Duration-3 Hrs.

a) Orientation:
History and origin of Value Engineering, User countries and companies. Terminology, Why,
How and When nomenclatures of VE, Application examples and benefits of using Value
Engineering. Definition of Value, Value Analysis, Value Engineering and Value Methodology.
Type of Value. Selection of Value Engineering Projects. Value Engineering Societies.
International VE Conferences. Value Engineering Certification Program.

b) Value Engineering Job Plan:

i) Value Engineering Job Plan:
Value Engineering Job Plan and its importance and variations
ii) Information Phase:
Importance of information collection for success of project, type of information and sources of
information.

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Classroom Session-2 Duration-3 Hrs.
i) Function Phase:
Function definition, function analysis examples and exercise. Function classification i.e. basic,
secondary, incidental and unnecessary functions.

Classroom Session-3 Duration-3 Hrs.

FAST diagramming:
FAST Diagram history, types, Critical path function, How, Why and When logic, supporting and
all-time functions, Ground rule for FAST Diagraming.

Classroom Session-4 Duration-3 Hrs.

i) Function Phase:
Understanding cost in Value Engineering. Function Cost Worth (FCW) Analysis, Function cost
resource, Exercises

Classroom Session-5 Duration-3 Hrs.

ii) Creative Phase: Team building, Creativity techniques, Brainstorming ground rules,
exercise
iii) Evaluation Phase: Need for evaluation of ideas. Evaluation methods, exercise.

Classroom Session-6 Duration-3 Hrs.

i) Development Phase:
How to develop ideas and prepare proposals, activities involved
ii) Presentation Phase:
Preparing presentation for examination or management, presentation skills
iii) Summary, difference between cost reduction and Value Engineering

Classroom Session-7 Duration-2 Hrs.

i) Illustrative case studies and discussion
ii) How to conduct Value Study and write project report
iii) Prepare for project
This completes theory part

1.3 Part-II: Project work / submission using Value Methodology

1.3.1 Instructions:
i) Project identification to be done by students as early as possible, typically after Session-1.
It is suggested to assign one student coordinator to compile the list of projects. This will be
screened by CVS faculty and college faculty/HOD and projects will be short listed. Selected
projects will be discussed and assigned to team of 5-7 students. Each team will be named by
students and approved by faculties. Project scope, exemptions and expected outcome will be
clearly defined. Project could be related to a product, process, system, procedure or anything
which will be useful to demonstrate application of Value Methodology and may be useful to
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students, college, management, industry or society at large. Early selection and allocation of
projects will help students how to apply Value Methodology to their own project as they keep
learning phases of VE Job Plan. Project should not be too complex and manageable within
short time available to students.
ii) Preference should be given to real life project which may be assigned or sponsored by an
external agency, industries or other institutes, schools or colleges.
iii) Team can select project of socio economic or environmental interest. Such project can be
divided or distributed amongst different teams.
iv) Selection of project and Team formation to be done in consultation with college and CVS /
SVA Instructor / faculties.
v) VM project to follow VM Job Plan.

1.3.2 Suggested Classroom sessions for project work:

These are indicative and not rigid, may vary from project to project and depend on convenience
of student, faculties and college/university guidelines. Information collection on projects may be
done by individual members but all remaining phases are to be completed as team.

Note: Attendance records to be kept for all sessions with name and signature of
students and faculties. To be shared with ICB by CVS faculty.

1.3.3 Part III: Exam:

50% Marks for viva with Project report presentation
50% Marks for written exam. Paper duration 60 min with 40 objective questions
These are broad guidelines. College may follow university guidelines for no of tests, duration,
questions and marks. Exam could be in presence or online based on pandemic or another
environmental situation.

Students will be issued VMT-1 course completion certificate by CVS / SVA Instructor or faculty.
Students with INVEST membership, having paid exam fees and passing the exam will be
awarded SVP (Student Value Practitioner) certificate by INVEST

1.3.4 Reference Material:

Reference Material for curriculum may be created and distributed by approved Instructor from
INVEST.

Text Book:
1. Anil Kumar Mukhopadhyaya, “Value Engineering: Concepts Techniques and
applications”, SAGE Publications 2010.

Reading material for more knowledge:

1. Miles, L.D., “Techniques of Value Engineering and Analysis”, McGraw Hill Book Co.
2nd Ed, 1972
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 2. Function Analysis System Technique-A Stimulating Tool, A K Mukhopadhyaya, I.K.
International Publishing House Pvt. Ltd.
3. Indian Value Engineering Society (1977 – 2017) Survey of Forty years and Selected
Essays- A K Mukhopadhyaya, I.K. International Publishing House Pvt. Ltd.
4. Cost Engineering - A K Mukhopadhyaya, I.K. International Publishing House Pvt. Ltd.
5. Getting More at Less Cost, G. Jagannathan, Tata McGraw-Hill Publishing Co. Ltd.
6. Iyer S.S. - Value Engineering, New Age Information, 1996.
7. Product Design & Value Engineering, Dr. M. A. Bulsara & Dr. H. R. Thakkar
8. Value engineering for cost reduction and product improvement - H S Mittal
9. Value Engineering Theory, Parker, D.E. Sundaram publishers, 1990.
10. Value Engineering A Practical Approach for Owners, Designers & Contractors, Larry W.
Zimmerman

Websites:
i) Indian Value Engineering Society: http://www.invest-in.org
ii) SAVE International: http://www.value-eng.org

SVP, SVA & PVA are trademark programs of INVEST and can’t be used without permission of
INVEST.

2.0 Senior Value Analyst (SVA):

1.Applicant must be a Life Member of INVEST.

2.Applicant from industries must be practicing VM for at least 4 years.
3.Complete the INVEST Approved Workshop VMT-3 of 24 hours (3 day).
4.Trainer should be an approved CVS and having ICP Instructor License.
5.The teaching professionals will submit 2 small VM projects or 1 big project, after completion
of VMT-3 course. Candidate from Industry to submit 2 completed VM projects before VMT-
3 course. Awarding of the SVA Certificate will be subject to acceptance of these VM
projects by ICB (INVEST Certification Board).
6. Submit Application
7. Submit certification fee as mentioned in the application form.
8. Pass the objective test consisting 2 papers of 100 marks each.

3.0 Professional Value Analyst (PVA):

1. Must be an individual or a Life Member of INVEST.
2. Complete the INVEST Approved Workshop VMT-4 of 32 hours (4 day).
3. Faculty should be an CVS / CVA in good standing and having ICP Trainer License.
4. Submit Application.
5. Submit certification fee as mentioned in the application form

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6. Pass 2 objective test papers of 100 marks each
7. PVA Examination may be taken any time after successful completion of VMT-4 Workshop.

ICP (INVEST Certification Program) Details Rev 6 on 14.09.2021

VMT is Value Methodology
The chart below classifies the level of VE certifications as follows and explains the
Training e.g. VMT-1, VMT-
role of each certified individual.
3, VMT-4

INVEST Certifiication Programs

Level College Students Experienced Entry Level
Launch Status Launched Dec 2020 Launched Dec 2020 Launched Dec 2020
SVP (Student Value PVA - Professional
Certification SVA (Sr. Value Analyst)
Practitioner) Value Analyst

Develop the pool of More suitable for

USP Catch them young for VM Instructors / Indian business
Trainers/Faculties for SVP environment
INVEST
Student Member Life Member One year / Life Member
Membership
INVEST
Membership Entry Rs. 500 Rs. 500 Rs. 500
Fees
INVEST Yearly
Membership Fees
Rs. 500 XX Rs. 500

INVEST Life
Rs. 1500 Rs.5,000 Rs. 5,000
Membership Fees

VMT-1 of 20 Hrs
VMT-4
INVEST Approved as part of College VMT-3
32 hrs (4 Day) VE
Training Course curriculum +20 Hrs Project 24 hrs (3 Day) VE Workshop
Workshop
Wok /Submission
Training Course
Certificate Issued Trainer / Instructor Trainer / Instructor Trainer / Instructor
By
Instructor License
2 Years 2 Years 2 Years
Validity
Submission of fees &
Instructor License Submission of fees & Submission of fees & License
License renewal
Renewal License renewal documents renewal documents
documents
Certification
Program Certificate INVEST INVEST INVEST
Issued By
Till studentship or first year
Certification Validity 4 years 4 years
of employment

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 No Renewal. Student to
Certification
keep ICB informed on
Renewal
status
Industry / practical
Nil
Experience
Project submission Nil
Test papers as per college
guidelines, Project
Qualifying Exam
submission, viva & written
exam
Certification Exam
Fees (GST extra as Rs. 1000
applicable)
Certification Exam
Rs. 1,180
with 18% GST
Have clear understanding of
VM concepts, it's
importance and usage in
Purpose practical life. Will not
misunderstand & propagate
cost reduction as VM in
future.
As VE Team Project work done with
Member Value Methodology
As VE educator
As VE Practitioner
Submission of fees &
recertification documents
Practicing VE for at least 4
years. No prequalification for
College, High School Teachers
SVA Certificate will be issued
based on 2 small or 1 big
projects submitted and
accepted before for Industrial
and after VMT-3 Training for
teaching professionals.
SVA objective 2 test papers -
100 marks each
Rs. 5,500
Rs. 6,490
Learn true VM concepts, how to
apply them for various purpose.
This course will help to teach,
propagate & practice true VM to
students and freshers.
Can apply the concepts and
techniques of VM to improve the
products or services of his/her
Institute/ company / client
Can perform as instructor for
SVP and JVA certification
programs only
Can lead VE projects or partly
facilitate, for improving /
developing design of the
products or services or solving
problems of his/her company /
client. Teaching faculties can
facilitate student projects.
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Submission of fees &
recertification documents
Nil
Nil
PVA objective 2 test
papers - 100 marks each
Rs. 7,000
Rs. 8,260
Learn true VM concepts in
depth, how to apply them
for various purpose.
Prequalification for higher
level certification in VM
Can apply the concepts
and techniques of VM to
improve the products or
services of his/her
company / client
Can speak on and
propagate VM within and
outside his /her
organization. But not as
trainer for SAVE or
INVEST approved
Certification Programs /
workshops like SVP, SVA,
PVA, VMA and CVS. But
allowed to conduct some
part of certification
workshop with licensed
trainer.
Can be part of VM project
team, may lead VE projects
for improving / developing
design of the products
process or services or
solving problems of his/her
company / client/ institution
Pl visit INVEST Website: www.invest-in.org for more information and announcements.

End of Manual

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