Value and Risk Management - MSc Civil Engineering and Construction Assignment

Value and Risk Management - MSc Civil Engineering and Construction Management - Assignment Example Our aim at present is to provide a brief background of our consultancy firm. We have been in this business for years, delivering professional service and expertise to companies and organisations in improving their strategic plans and in the conduct of value management and value engineering studies as we have vast knowledge of concepts and methodologies on this area. SBE Innovations Ltd., a partnership of private and public sectors, is a valued client. This paper is an initial report on the study that our VM/VE team conducted on the proposed recreation and commercial centre. The first part is a study on value management with a focus on the site inspection, the objectives for the conduct of VM/VE, the workshop, discussions and brainstorming, and other tools our team has conducted. Functional analysis provided the needs of SBE Innovations through recommendations to minimize unnecessary costs and maximize the potential benefits of the different functions of the project. The second part deals on value engineering involving imaginative and creative efforts, and methods and means to provide substitute materials, tools and processes which can give a valuing ‘map’ for the project. Value management is the first activity that we will apply at the early stage of the project. This is a step-by-step analysis, employing scientific methods, discussions, brainstorming, and all possible logical means to arrive at a low-cost with high value for the client’s project. This study will be a collaboration of the different stakeholders including department heads and key employees of SBE Innovations and our very own team. They will carry out a workshop to undertake value management and value engineering. The team will conduct functional analysis and provide suggestions, including inputs from the different stakeholders and the people in the field in order to provide the greatest