Workshop 7: Key VM phase: Evaluation Analysis

Evaluation is one of the key techniques and is the central activity in Value Management (VM). The aim of evaluation is to determine or estimate the value of issues. It occurs at many stages and takes different forms within a value study. During the workshop, Mr. Scott has introduced and gone into details the various key contextual factors towards evaluations, including different decision models, assumptions of rationality, intuition and the adaptive unconscious, monetary assumptions and measurement rigour, impact of culture, personal preferences, importance of teams, types of evaluation in the value creation process, the impact of time horizon, the politics and so on. The participants were also able to get involved in exercises and case studies in which they can have more and deeper understanding on evaluation in VM.

Mr. Ken Scott
(B.Soc, MBA, CVS, PVM, TVM, FIVM)

Dr. Leung has more than fifteen years of practical / teaching experience in the construction industry /education and has participated in a number of prestigious construction projects in Hong Kong. Dr. Leung is a Chartered Quantity Surveyor in the RICS in the UK and the HKIS in HK and a Chartered Builder in the CIOB in the UK and AIB in Australia. Currently, she is a vice president of the HKIVM, a Qualified Facilitator for facilitating governmental ‘VM workshop' in HK and a Certified Value Specialist for VM workshops recognized by the SAVE in USA.

• Introduction
• What is evaluation?
• The Value Management context
• Basic concepts on VM
• Evaluation in VM
• Value profiling
• Evaluation and project governance
• Value and performance management
• Team profiling
• Function evaluation
• Idea evaluation (VE job plan and evaluation stage)
• Proposal selection techniques
• An integrated approach
• Evaluation of the day
• Conclusions

 

  

  

  

Useful linkage:
HK Gover’t: http://www.cedb.gov.hk/citb/ehtml/home.html
HKIVM: http://www.hkivm.com.hk
BCM: http://bcm.cityu.edu.hk
HKIS: http://www.hkis.org.hk/hkis/html/professional_cpd.jsp

  VM Activities

    Project Team

    Events Achieved:

Seminar Workshop Conference Seminar 12   Novel VM Applications in Europe Seminar 11   VM Trends in the United States Seminar 10   Information Analysis for Complex Projects Seminar 9   Innovative Application of the VM for Large, Complex Projects Seminar 8   Innovative VM Techniques in Complex Projects Seminar 7   Successful VM applications in Australia Seminar 6   Enhancing Value in Facilities by VM - Attracting Investment in China (in Xian) Seminar 5   Enhancing Value in Facilities by VM - Attracting Investment in South China (in Beijing) Seminar 4   Extending Your VM Business in China (in Shenzhen) Seminar 3   Sustainability/ LEED & Life Cycle Costing -Their Role in Value-based Design Decision-making (VM) (in HK) Seminar 2   Is Value Engineering successfully internationally? (in HK) Seminar 1   How can the value Management work in the HK construction industry? (in HK) Workshop 8   Formal VM Training Workshops (modeules I and II) for Construction Workshop 7   Key VM phase: Evaluation Analysis Workshop 6   Key VM phase: Creativity Techniques Workshop 5   Key VM phase: Function Analysis Workshop 4   Value Management for Design & Construction methodology & Application Module I - Training workshop (in Beijing) Workshop 3   Value Management for Design & Construction methodology & Application Module I - Training workshop (in HK) Workshop 2   A Key VM Technique: Function Identification (in HK) Workshop 1   VE "CMethodology & Application Module I" CTraining workshop (in HK) International Conference 2   Value Engineering for Construction Projects (VECP05) (in Korea) International Conference 1   Why Re-Invent the Wheel? (in HK)

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