Value Management in Construction and Property

Topics: Creativity, Brainstorming, Project management Pages: 37 (9945 words) Published: April 21, 2013
BRE 533 Value Management in Construction and Property

Final Report

Propose Development of
The Hong Kong Polytechnic University
Phase 8 Development

30 April 2010

Executive Summary|
Background to the value management study|
Function of the value management workshop|
Project objectives|
Value management workshop objectives|
Information Phase|
Overview of presentations|
Q&A of the presentation|
Function Analysis Phase|
List of functions of FCLU|
Functional matrix|
FAST diagram|
Creativity Phase|
List of brainstormed ideas to satisfy selected functions of FCLU| |
Evaluation Phase|
Criteria for evaluation of brainstormed ideas|
List of P1, P2, P3 ideas|
Weighted evaluation technique|
Development Phase|
Action Plan|
Presentation Phase|
Summary and Conclusion|
Reflective journals|
Appendix A| List of roles of participants|
Appendix B| Workshop agenda|
Appendix C| Photo of VM Workshop|

Executive Summary

As Phase 8 development of Polytechnic University is proceeding actively. To ensure all stakeholders’ needs were accounted for, a one day value management workshop was held at Polytechnic University Room W610 to discuss the use of campus, at no. 15 Wylie Path. Representative of various interested groups, government departments and stakeholders were present.

The representatives were carefully selected by due process as the success of the value management workshop is dependent upon the input of participants.

The workshop followed the Lawrence Miles approach which was widely accepted in international standards and all groups, departments and stakeholders thus gone through all major stages:

1. Pre-workshop Phase namely information phase,
2. Workshop Phase - function analysis phase, creativity phase, evaluation phase and 3. Post workshop Phase - reporting/development phase to input new ideas and rule out any unnecessary functions

These three phases were worked by the team members in order to achieve better value for money for FCLU.

The information stage of the workshop comprised, in addition to the presentations by participants, a structured question and answer session and a functional analysis section, which identified forty areas or objectives to be idea generated in relation to option 5; the first ranked option. The idea generation produced which ultimately were converted into a series of working lists. This included seven design notations which represented stakeholders’ needs and were, by consensus, to be included as part of the preliminary concept design. A preliminary assessment of risk associated with the project was undertaken following the value management process. This will form an introduction to a full risk assessment which will be done when a preferred proposal is announced. The participants were well familiar with the issues surrounding the project and this step has provided preliminary information for that later During the workshops, all participants have expressed their ideas and all information are recorded through the interactive value management software. To enhance sustainable development concept of whole project scheme, evaluation criteria were identified, defined and rated. These evaluation criteria were applied to each agreed alternatives and were rated on the scale of 1 -10.

The idea generation stage of the job plan produced ideas for the refinement of sustainable design and were developed into action plans which are found in the body of the report.


1.1 Background to the value management study
The Phase 8 development is formerly design to be located at “former Livestock Depot”, northwest of the existing campus. The anticipated move in date is at the end of 2012. Upon completion, the development will provide approximately 25,600m2 net floor area for implementation of the new academic...
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