Value Management Flashcards
1
Q
Which two main areas do we gain information from analysis of past projects
A
Post occupancy (value of existing structures to business) Life cycle costing (whole of life, flexibility of design)
2
Q
What is the purpose of value management
A
The process of improved procurement fits into the beginning of the design/construction process. As it is this stage that changes have the maximum effect for minimum cost
3
Q
What is the Australian Standard for Value Management
A
AS 4183-2007 Value Management
4
Q
What is the Value Management Equation
A
VM = Cost + Worth + Function
5
Q
Where in the cycle does value management come in
A
Planning - The later implemented in the cycle the less value added
