Value and Risk Management Report


Added on  2019-09-16

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2016/17 academic sessionD31VR Value and Risk Management ASSIGNMENT Value and Risk Management of hotel development projectPart 2 80% - Individual submission: Value and Risk report VALUE1Value review of project briefPrepare a representation of the client project value system for the hotel project relevant toRIBA PoW Stage 1 using a pairs-comparison matrix to reflect the priorities and measures ofsuccess for the project.2Value Engineering the designThe client has commissioned a review on options for value engineering the design based onthe following scenarios for a change to the budget:a)A cut in the budgetPrepare a report on the extent to which VE can achieve a cut to the budget in a waywhich minimises impact on the quality and integrity of the hotel project. Your reportshould include VE proposals which identify element(s) of the design to be targetedfrom the hotel cost plan explaining how the specification would be adjusted. Yourreport should highlight implications of the cost cut on the project value systemmatrixb)An increase in the budgetThe client is considering increasing the budget if they can be convinced that it wouldlead to substantial improvement in functionality and value of the project that wouldjustify the increased investment. Identify the element(s) where the specification andcost could be enhanced and explain how this would improve project functionalityand value. Your report should also highlight how this would be reflected in theproject value system matrix. RISK3Project risk profilePrepare a report for the client on the risk profile of the project based on the risk factorspresented in Table 3 of Baccarini, D and Archer, R. The risk ranking of projects: amethodology, International Journal of Project Management V19(2001) 139-145. (alsocovered in week 6 of the course). Making any necessary assumptions, your report shouldrate the range of risk factors identified and conclude with an assessment of the level ofmanagement and technical risk associated with the project.
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