Value Management Report
This report has been prepared to do a Value Management study for the TechWatt Corporation for develop the brief and confirm the decision to build their new regional HQ.
TechWatt Corporation is a small but fast growing IT company producing both computer hard ware and soft ware systems. The company is considering investing in a regional HQ as part of an ambitious expansion plan, and are about to commission a major project for this. Funds of approximately £5 million have been allocated for this project. No major decisions have been made yet regarding a possible site or specific facilities to be provided.
TechWatt proposal scheme to have from the facility are:
- Provide an office accommodation for the management and Administrative employees for total of 12 staffs.
- Provide a work shop for hi-tech light manufacturing processes for total of 15 staffs.
- Provide the ability to receive visits from clients and potential clients for meetings and to tour facilities.
- Location of the Project: The Team has to look at the different sites available. The site should be easily accessible with good transport facility. It should be near to all the other offices of the TechWatt to have an easy link between all the offices.
- Design of the project: The design team has to decide upon the design of the project such as the type of building elements and components to be constructed, interiors and specifications for the materials etc.
- Accommodation: The accommodation should have a minimum capacity for 12 staffs and should also provide place for the visitors. All the required facilities has to be included such as dining area, bedrooms , kitchen, bath room, heating, good ventilation etc.
- Workshop: The work shop should have a capacity to easily accommodate 15 workers and should provide space to install all the machineries and other equipments. Therefore it is recommended to go for a little bigger building taking into consideration the future expansion.
- Ability to host visitors, meetings, conducts tours etc: To conduct all the above, the facilities such as meeting halls, conference rooms, additional office area etc is required.
- Budget: The budget allotted for the project is approximately £5 million. The quality of the building has to be good within the project budget.
- Additional facilities: Additional facilities such as car parking have to be provided for the employees and the customers. Facilities such as common cafeteria, recreation centre etc must be provided for the employees.
- Environmental Criteria: Environmental assessment such as air pollution, noise pollution etc has to considered and needed steps has to be taken to eliminate all these factors.
The stake holders involved in the value management study are Client, Project Manager, Value Manager, Quantity Surveyor, Architect, Structural Engineer, Service Engineer etc.
- Client: The client is the owner of the project. The client will be providing his requirements to the project team. Therefore his satisfaction with each of the proposals is very important.
- Project Manager: The Project Manager is the main representative from the client side who is responsible for the whole construction work. He calculates the time limit to finish the project and also looks in to the quality considerations.
- Value Manager: The Value Manager is the head of the value management study. He initiates the meeting with the client and submits the value management report to the client. He should conduct studies on the time frame, quality and the project plan.
- Quantity Surveyor: The quantity Surveyor is a main part and works on the cost aspect of the project. He will be responsible for selecting and delivering different materials for the construction. The estimates proposed by the QS will be very competitive.
- Architect: Architect works on the design of the building based on the requirements given by the client. He is responsible for the design and he has to make sure that the design is giving value for money.
- Structural Engineer: The structural Engineer proves the structural design of the project. He is responsible for the structural stability and the safety of the building. He can change the architect drawing if there is no structural feasibility in the design.
- Service Engineer: The service engineer is involved in the service provided in the building such as electrical, plumbing, air conditioning etc.
The client provides the requirements he expects from the study to the stake Holders such as Architect, Structural Engineer, Quantity Surveyor etc. the information client has to provide are;
- The aim and the objective of the project.
- Quality expectations:
Quality is an important factor and has to be considered for the project. All the materials used for the project should be of high quality and proper checking has to be done by the project manager.
- Allocated budget:
The budget allotted for the project has to be clearly defined. This will help in calculating the cost control techniques. The whole life cycle cost of the project and the cost certainties also has to be evaluated. Therefore a detailed value management study has to be carried out during the pre defining stage.
- Time limit:
The time limit to complete the project has to be finalised and should be finished in the calculated time since it adversely affect the project budget. Therefore the time required for the design and the execution of the project has to be calculated.
- The list of machineries going to be installed in the project. It is needed to fix the electrical connection.
- The value manager should be provided with the plans of future expansion if there is any.
- The list of stake holders involved in the discussion.
- Site Details:
The site consideration such as the size and shape of the site and the area in which the site is situated has to meet the project objective. The site is easily accessible to the city and proper transportation facility should be there.Proposed Draft Agenda for the Work Shop:
The proposal regarding the key issues are submitted to the client. The value management study is expected to have a big impact on improving the success of the project. It is recommended to take out further value management studies at the later stages to make sure that the project is progressing in a positive way.