Value Management module is a module introduced in semester 6 which introduces students the concept in the construction industry that aims to improve value without drawbacks in cost or quality through the removal of unnecessary costs and replacement of functional components that leads to improvements.We also learnt about the types of unnecessary costs and way to eliminate them. Some techniques in value management include FAST diagram (Function Analysis System Technique) used to identify the purpose of an action taken in VM. Another method is priority setting matrix, which is used to identify the most suitable choice based on an identified set of requirements. TThis modules include a mid-term test, a group report & presentation and a final exam.
The group assignment required 6-7 people to conduct a Value Management study as a team to a project to prepare a Case Study Report. The Group assignment is good coverage of what has been taught throughout the semester. Group members have good relationship between each other and it has allowed me to complete it with a sense of fulfilment and satisfaction.
All in all, I have learnt much from this module regarding value management. I feel that this module is well organised in a way that allows better understanding to a fairly new concept to students or at least myself. I would like to thanks Sr Loo Seong King for his dedication in lecturing us for this module. I feel that the knowledge concept that I would fully support as a Quantity Surveyor to achieve maximum value allowing for efficient construction costs.
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