Value Principles & Initiatives Flashcards
1
Q
Where do projects come from
A
A need/requirement from a client for something to be built/renovated
2
Q
What is value
A
Reflects the benefit of something in relation to our own values, attitudes and beliefs
3
Q
How can construction projects provide value
A
Effectiveness (definition of key stakeholder objectives and outcomes)
Efficiency (optimisation of delivery to deliver stakeholder value without resource waste)
4
Q
Concept of capitals
A
VM - beliefs - more qualitative
VE - purpose - more quantitative
5
Q
Types of capital
A
Natural (environment)
Social capital (shared understanding that enables cooperation)
Human (knowledge, skills and competencies)
Produced (human-made goods and financial assets)
6
Q
How is value focused
A
On outcomes (client mission/strategy/objectives)
