The principles/processes you would adopt for value analysis and value engineering?
Why value management on construction projects?
Value analysis is effective in many areas of the construction industry, and it can be utilized at different stages in the life of a building namely; planning and design phase, construction phase and maintenance and operation phase. Discuss.
What are the principal obstacles to making value analysis integral with the overall project appraisal in construction client organizations in Nigeria?
In achieving the goal of value analysis, the importance of pre-workshop efforts cannot be over-emphasized. As a project manager, itemize your action plan for pre-workshop phase with reference to a construction project of your choice.
In achieving the goal of value analysis, the importance of post-workshop efforts cannot be over-emphasized. As a project manager, itemize your action plan for post-workshop phase with reference to a construction project of your choice.
As a project manager in the Ministry of Works and Housing, what approach will you propose for implementing value analysis in your organization?
List six fundamental requirements in the implementation of life cycle costing.
Within the context of life cycle costing/whole life costing, explain the term “period of study”. List and discuss four approaches proposed by the Royal Institute of Chartered Surveyors to the establishment of period of study.
The table 1 shows two design proposals for a replacement of cooling system with their cost profiles.
Table 1: Cost profile of design proposals for a replacement of cooling system
Option Installation cost
(USD) Expected life
(In year) Savings on existing cooling cost over expected life
Option 1 15,000,000.00 5 years 18,750,000.00
Option 2 25,000,000.00 12 years 50,000,000.00
Compute the payback period for the two options
Which option would you recommend? Give reasons to support your recommendation.