News and information for Value Management professionals.
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President's Update

Welcome to the October issue of the IVMA Newsletter. As you will see in this newsletter, the decision has been taken to postpone the IVMA Annual Conference and there is a full explanation of the reasons behind this decision below. As the IVMA Annual General Meeting was to coincide with the Annual Conference, other arrangements will be made for the AGM and we will provide you with all the information once the details have been finalised.
In early October you would have received your copy of the Spring Edition of the relaunched Value Times e-magazine. We have received some very positive feedback about the edition and I encourage you to consider contributing to the next Value Times. To become a contributor please email the Editor to discuss your idea.  

As always I remind you of the opportunities you have to share your thoughts on subjects of interest with the ever expanding IVMA network - either by providing feedback here, on the IVMA website or in our LinkedIn group

Dr Roy Barton FIVMA

IVMA Annual Conference postponed until 2015
The IVMA Annual Conference scheduled for 12 November in Sydney is to be postponed until next year.
Despite all the positive feedback and encouragement, from many people, we have as yet been unable to secure major sponsors for the event during the current austere times for marketing budgets.
Several organisations have offered commitment in future, just not next month. Without sponsor money underwriting the event, a major event, is a risk IVMA cannot afford at this time. 
We did invite several high-profile figures to speak at the event, including the NSW Premier, and CEOs or senior managers from Infrastructure Australia & NSW, the Gold Coast Commonwealth Games, The City of Adelaide, Engineers Australia, several main contractors, AusGrid and from the Barangaroo project.
Although all were very supportive of IVMA, the relatively short-notice and changes across the political landscape in recent months became difficulties for their diaries.
Most have agreed to support us in future – diaries willing.  
We would like to thank all the other speakers who agreed to be involved in the Conference program and are pleased to hear that all are still keen to be involved in a 2015 Conference.  
IVMA has achieved a great deal in the last year or so. A newly focussed purpose and objectives, new constitution and business plan, new logo and identity, a freshly outsourced back-office with genuine systems capability to serve members, a new member tariff and set of benefits, with a new website, the relaunch of The Value Times and our monthly bulletins, and a new profile with many stakeholders.
These accomplishments have obviously placed a real strain on resources, so an Annual Conference has to be a significant 'money maker' for the Institute as well as a worthy event in its own right.
We also have to concentrate now on sales of our Associate Membership of $35 to fulfil the new IVMA strategy – so that is where our scarce resources should deploy for the next few months.
We shall host an Annual Conference early next year, after Easter, and have already commenced the process of formulating support for the event, off the back of our efforts these last few months .
The Board of the IVMA thanks all its stakeholders for their ongoing support.

The IVMA Board
"How do you calculate the value for money" - video
Roy Barton, President of IVMA and Accredited VM Facilitator, offers an introduction to VALUE MANAGEMENT and discusses the question of calculating VFM in this May 2014 video. Essential viewing as an introduction for anyone interested in increasing VALUE FOR MONEY. Go to the IVMA website home page and see the link in the 'Quick Access' panel.

With the IVMA relaunch, changes to membership grades and transition to a new database, renewing your membership and updating your details is vital for the growth of your Institute. Invite friends and colleagues to also join and be part of the organisation.
Act Now - visit the IVMA website to renew your membership or call our membership team on (02) 9431 8681 and they can assist you.

Value Management News

$3.7bn contracts signed for Sydney rail link

New South Wales Premier Mike Baird and Minister for Transport Gladys Berejiklian have recently signed the operations contract for Sydney’s North West Rail Link, said to be Australia’s largest public transport infrastructure project and first fully-automated, heavy rail, rapid transit rail system.
The project will link the north-western suburbs of Sydney connecting Rouse Hill to Epping via Castle Hill and is being managed by Transport for New South Wales.
Read more…

Rio’s CEO says it’s time “to meddle in the middle”

According to the Procurious website, at a recent conference in Sydney, Rio Tinto’s CEO Sam Walsh put a spotlight on the value that can be delivered by both the C-level and procurement shifting their focus from the top and bottom-line to the “middle line”.
In his speech “The golden age of procurement” Mr Walsh shared some of his thoughts about the importance of procurement from the perspective of a global chief executive.

East West Link design team named
A joint venture of Hyder and Parsons Brinckerhoff has been appointed as the design team for the Victorian Government’s East West Link.
Hyder, an advisory and design consultancy, and infrastructure firm Parsons Brinckerhoff will provide detailed design and construction phase support services for the first stage of the $6.8 billion road project.

Join the IVMA LinkedIn Group
IVMA has established a LinkedIn Group for members and supporters to share ideas and information. LinkedIn is a business-oriented social networking service for professionals to engage with like-minded people interested in all aspects of Value Management. Follow the link and join the group now.

Strategic Asset Management on LinkedIn
As well as joining the IVMA LinkedIn group you might also be interested in joining the Strategic Asset Management group for experienced and qualified professionals in Strategic Asset Management. This is a private group and requests for membership are reviewed by the group manager.
See the new IVMA website for more news and information.
Copyright © 2014 Institute of Value Management - Australia, All rights reserved.

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