As being mentioned above, it can be understand that the Value Management play a significant role in Construction industries. Thus it create a question, “Why and what’s the impact of Value Management?”. Rahim Aminzadeha, Amirruddin Ismailb, Ishak Arshad (2011), mentioned that the basic purpose of Value Engineering is to reduce overall construction cost. The application of Value Engineering (VE) in the construction industry has been observed in a number of countries around the world, and is recognized as one of the most effective methodologies for achieving ‘best‐value‐for‐money’ (Shen and Liu, 2003). VE can be used to establish project scope, support effective decision making increase project performance and quality balance project objectives, and manage community expectation (Rahim Aminzadeha, Amirruddin Ismailb, Ishak Arshad, 2011).
After a lengthy discussion, we can conclude that the main purpose of value management is to pursue the best value-for-money for the project throughout its life cycle (Thiry, 2001). However, there still a factor that might destroy the promise given. Through an international benchmarking study, Male et al. (1998) has identified critical success factor that need
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Liu and Leung in 2002 stated that Value Management can be divide into soft and hard area where hard systems emphasize more on goal-seeking that involves scientific methods, e.g. mathematical models, techniques, etc. for solving/eliminating well-defined problems and the essential elements of a hard system include alternative techniques, costs or resources, mathematical model(s), and criterion for choosing the optimal alternative. They also added that the traditional Value Management approach for the hard system involving functional analysis technique, tree diagram, life cycle costing, trade-off method, and other mathematical models for
Case management refers to when a person or people in need require an environmental intervention. The Conrad Hilton Association defines case management as “one of the primary services offered to individuals and families who face multiple challenges, including severe mental illness, addiction, and homelessness.” Case management often helps those who are struggling or who are in need, however, the term tends to be used very loosely within organizations.
According to the Case Management Society of America, case management is "a collaborative process of assessment, planning, facilitation, care coordination, evaluation, and advocacy for options and services to meet an individual's and family's comprehensive health needs through communication and available resources to promote quality, cost effective outcomes" (Case Management Society of America [CMSA], 2010). As a method, case management has moved to the forefront of social work practice. The social work profession, along with other fields of study, recognizes the difficulty of locating and accessing comprehensive services to meet needs. Therefore, case managers work with these
In order to eliminate or reduce the material waste or non-value adding activities and improve the quality of construction works, a quantitative study approach will be adopted. The application of DMAIC methodology will be adopted to justify the research work. DMAIC acts as a road map to the project managers to identify and understand the various root causes and their effects. Therefore, providing necessary improvements and control measures. Thus the combination of Lean Six Sigma leads to the projects of superior quality at the right
Evolving since the 1980’s, case management, an essential part of quality assurance programs, promotes excellence and efficiency in consumer health care, while conserving costs for health care organizations. Effective case managers answer the demands of changing health in promoting and facilitating a patient’s progression of care (Scott 2014).
In a high competitive world market and with the increasing rational buyers a company can only win by creating and delivering the best customer value than the others competitors do. To succeed, a company needs to use the concepts of value chain.
Royal Caribbean Cruise Ltd (RCCL) has two distinct supply chains which create a unique challenge. Each supply chain is managed by a Provision Master. The first supply chain includes all food, beverage, and lodging inventories that needed for the trips. The second supply chain encompasses “corporate spend” materials, such as office supplies, printing services, hardware and software, printed materials, computer supplies, marine consumables (spare parts, fuel, lubricants, any and all services associated with the ship maintenance and etc).
Soman,D & Marand, S (2009). Managing Customer Value: One Stage at a Time.: World Scientific Publishing. p9-14.
Westerveld, E., The Project Excellence Model®: linking success criteria and critical success factors, International Journal of Project Management, Volume 21, Issue 6, August 2003, Pages 411-418. Science Direct [Accessed 10th February 2014]
This paper explores what it takes to be a construction manager and the responsibilities of being a construction manager and the skills that a construction manager should have. It also explores what good construction managers do to have success on their construction projects and the steps that a construction manager must follow to end a project and meet their deadlines at the same
During the project initiation stage the business problem or opportunity is outlined whilst simultaneously various TM techniques and tools can be adopted to enhance productivity and overall project success. Value engineering is a technique which can be adopted to seize the opportunity to add value in the early stages of the project. The value of a system’s outputs is optimized by crafting a mix of performance (function) and costs. Allocating time for this technique is crucial during the initiation phase, as it deals with the value process solely during the inception and conception of a new product.
Value has different aspects which include company values; which relates to new innovations, job growth, reducing costs, as well as long term production and so forth. Value must meet customers’ needs which they benefit from the product or service.
Explain how the company’s value-chain activities can be better linked to create value for the company.
What I would expect to be the same if two companies that use this approaches are the expectation of the outcome that they will get in terms of their sales and profit. What I would expect to be different between two companies who apply these concepts is the level of satisfaction of their costumers since the “Value approach” has a custumer oriented
Identify some core values of this organization as best as you can. What do they believe in (beyond organizational success or profitability)? How might their revealing these values to customers and employees create opportunities to exceed expectations? How can they translate core values into actions to produce A-plus value, thus strengthening relationships?
Project management is said to be completed within time when it completed within the “triple constraints”: cost, time and quality. And in a lot of causes, one them is sacrificed so as to meet the other two. Project managers prioritize which ones are the most important.