Value Management is a rigious, systematic effort to improve the value and optimize the cost of projects, facilities and system. Value Management generates these costs improvements without scarifying the needed performance levels.
Among significant contributions and potentials of Value Management are:
- Value Management Promotes System Thinking
- Establishing Customer Needs
- Value Management Change Proposal (Incentive Clause)
- Staff Development
- Vehicle for Charge
- Return on Investment
- Identifying and Removing Unnecessary Costs
Asset Life Cycle Cost Management
Stephen J. Kirk & Alphonse J. Dell I’sola defines Life Cycle Costing as an economic assessment of an item, area, system of facility that considers all the significant costs of ownership over its economic life expensed in terms of equivalent dollars.
This LCC approach is effective in the decision making process in several main ways:
- It identifies the total cost undertaken in the acquisition of an asset.
- It facilitates an effective choice between alternative methods by taking account various options which display differing capital and running costs.
- LCC is a management tool that details all costs of capital, running and replacement cost associated with either a total building or components within that building.
Strategic Planning / Management
Strategic management process provides the thinking, analysis, planning and implementation of the strategic decisions to keep the organisations intact. Strategic management can be divided into three main elements i.e strategic analysis, strategic choice and strategic implementation.
Research & Development
Empirical and scientific research and development including ICT solutions in the area of construction economics and financial asset management.