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Engineering and Construction
Pages 18 (4518 words)
VALUE AND RISK MANAGEMENT Name University Professor Date of Submission Table of Contents Table of Contents 1 VALUE MANAGEMENT 2 Effective project management 3 Financial targets 5 Minimising operation, maintenance costs and environmental impact 6 Third party requirements 8 VALUE MANAGEMENT STUDY 9 Information gathering stage 10 Back to basic stage 11 Evaluation and development stage 11 Action planning stage 12 PROJECT FUNCTIONAL DIAGRAM 12 ACCOMMODATING BUDGET CUTS 13 RISK MANAGEMENT 14 Establishing context 15 Risk identification 16 Risk assessment 17 Key stages for risk study 19 RISK REGISTER 19 REFERENCES 21 VALUE MANAGEMENT Value management can be defined as the utilisation of value analysi
Value drivers can be defined as elements within a project which improve the product quality, and also minimise costs. These drivers become essential during project management as they provide assistance to auditors on possible value adding elements. The utilisation of value drivers remains fundamental to successful completion of many development projects, within the construction industry. These elements remain fundamental towards ensuring projects remain within their allocated budgetary requirements, and produce satisfactory outcomes. ...
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