Value and Risk Management

Explanation of coursework: The individual assignment has two parts: value and risk report (based on Spire healthcare project ) and risk essay (general review paper based on literature). At this stage, you should be able to complete the value engineering section of the value and risk report. Your VE report ( which carries 40% of the mark) should include the following: - Introduction: explaining the project background / brief and assumptions. You can use the same assumptions as your group presentation but feel free to make any amendements you need. The introduction should also include an explanation of the report purpose and content. This introduction will be used for value and risk parts. - A brief explanation of type of study at RIBA PoW stage 4 and here you can mention briefly that the VM study has been conducted at previous stage and also present the client’s value system as the main outcome. - Identification and justification of the cost dominant elements to be used in each scenario. - Proposed alternative solutions for each scenario (scenarios are explained in the coursework brief). Here it is not required to present all the element function analysis steps you did as a group, just the solutions (alternative specifications) along with their impact on value system and the element’s main functions.