BQS668 Value Management UITM Assignment Sample Malaysia

BQS668 Value Management course provides a comprehensive overview of the implementation, value analysis, and total management systems that are utilized in many successful organizations. This course will equip students with a deep understanding of the cost-benefit methodology underlying the system, as well as methods for identifying and monitoring sources of value throughout their business operations.

Moreover, participants will develop tools to help them better capture marked changes in costs and identify opportunities for greater efficiency. After completing this course, students’ knowledge of how to evaluate value through an organization’s entire life cycle should be greatly enhanced and ensure they can effectively manage values within any organization.

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In this section, we’ll discuss several ideas for assignment activities. These include:

Assignment Activity 1: Describe various value management methodologies and techniques for achieving better value for money for a construction project.

Value management is an array of methodologies and techniques which are designed to deliver better value for money from a construction project. These techniques include processes such as budget control, value engineering, the generic risk assessment model and several others. Value engineering seeks to identify elements in a construction project that may be under-delivering on specifications or are too costly in comparison to the benefits they bring.

The principle behind it is that substitutions can be made without having to compromise on quality or cost efficiency. Budget control involves evaluating the components and labor costs of the project in order to reduce the overall expenditure while still delivering expected outcomes. Lastly, there is the generic risk assessment model which has become an increasingly popular technique used by organizations due to its ability to accurately measure foreseeable risks within a construction project with justifiable financial repercussions factored into the equation. All in all, these methodologies offer valuable tools for controlling expenditure during construction projects and help build toward successful execution and advantageous results.

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Assignment Activity 2: Evaluate the most appropriate value management tools and techniques to achieve the best value for money for a construction project.

Value management tools and techniques are essential for ensuring the best value for money on any construction project. One of the most common tools used for this purpose is value engineering, which enables stakeholders to identify scenarios that bring together different elements into an effective package at a low cost. Encompassing a range of strategies such as cost-benefit analysis and life cycle costing, this tool can help reveal unexpected opportunities that may have otherwise been overlooked.

Other useful techniques include value management workshops, in which experts analyze the tender documents collected from potential contractors and select the best one. Additionally, independent evaluation can be employed to ensure that all options have been carefully compared and evaluated before making a final decision. When used correctly and with thoughtfulness, these different tools and techniques can help make sure that the project achieves exceptional value for its money.

Assignment Activity 3: Present information clearly and appropriately well to the targeted audience.

Presenting information is an essential skill in the modern workplace. There are many different situations where one may need to provide key facts effectively and efficiently, such as during team meetings, project development, and sales proposals. A successful presentation always takes into account the targeted audience: adjusting language, tone, and visuals based on their needs to ensure the information gets across clearly.

Some audiences require more technical understanding while others will benefit from capturing stories that communicate why data points are significant. Taking the time both to size up your audience and plan accordingly ensures your presentations will be well received and help drive desired outcomes.

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