Value Risk Management Case Study Example | Topics and Well Written Essays - 2500 words

Value Risk Management - Case Study Example TechWatt shall use it starting by doing our Value Study (this Study) during the Headquarters briefing stage preparations. Assuming the Value Study validates that it is a good idea to follow through and do our HQP, we shall carry out the Risk Management Study after awarding the architect-design contract, but before site set-up. The following advice is among RIBA guidelines. Architects (VRM professionals) and clients need to make and use a Plan of Work. They must work closely to form a good team for a successful project, and to be sure that all project team-mates know the information they must provide and their clearly-defined responsibilities. This VRM Study is our set of working ideas at TechWatt to use for a smart plan, to optimise value and minimise risk, to foresee some possible problems and consider ways to deal with them, and to lose no value to risks; or lose as little value as possible. Our business wants a new headquarters that is valuable to us now and in the future. First, we must consider many things including at least: future growth and financial stability, our company's needs, the location and costs of a new headquarters, and the monetary and non-monetary benefits we expect from moving into a new headquarters. To keep optimum value we must make and follow a Plan of Work with our architect. Our Plan must include and address negative situations or risks that can take away value. This Study leads to the following Plan of Work (in this order): - TechWatt's Strategic Briefing which states requirements for a Headquarters facility - a Project Briefing that has Outline Proposals by the Design Team (based on a review and further development of ideas in the Strategic Briefing) - Detailed Proposals that build on the ideas outlined in the Project Briefing Each step moves nearer to design and site development. The Risk Management part of this VRM Study suggests ways and back-up plans to minimise loss from risk. TechWatt's professional business is making hardware & software products. With no appreciable experience in facility construction, we will rely greatly on our architectural Design Team. Value Management We seek "value" at TechWatt, for the present and the future. We must clearly define what value is. RIBA makes clearly defining value a high priority in projects. It is the project vision so all on the project team work for the same goal. So, as early as possible and from the start, TechWatt must define "value" so the architect-design-construction team can work to achieve value. It becomes the centre of the Pre-Project Briefing, the Plan of Work and is designed into our headquarters. Value is the compass giving direction to all activity. Pre-Project Briefing: Do good appraisals (RIBA Work Stage A) We must carefully consider and appraise options to make Headquarters. We'll brainstorm the definition of value in the Pre-Project Briefing and put those ideas into our Strategic Brief to give to our architect-design team partners. Lacking experience in this area, we shall depend heavily on our design participants for expert advice during the Pre-Project Briefing (PPB). The PPB is a good starting point for all parties. TechWatt's key participants will include top management and other resident experts who should help appraise needs for a new facility and moving into it. We need similar participation by