QS Practices

Building QS Practices

Building QS Practices

Q.1

Discuss the relationship between value management, risk management and change management. How they create value for money in a project?

Introduction:

The study is generated to understand the relationship between value management, risk management and change management and how the combined effect of all these factors can influence a project that needs to deliver good value for money. It will examine the awareness and understanding of Value management in collaboration with risk and change management. Since value management is consider being problem solving tool, it is a creative and proactive service having a structure and team oriented approach which will help in delivering good value in the projects. There are several risks involved in managing any kind of project. Therefore risk and value management go hand-in-hand in order to provide quality and good value for money.

Change management in an organization is used for a broader perspective and aligns different policies and strategies which will provide guidelines to the workers. It also helps an organization to improve the overall system to develop the required content knowledge which is needed to be implemented. Change management also comes under the umbrella of value management because it is an approach to create value in the projects it is needed when you want to change the whole concept of the project. Change management is an approach, whereas Value management is technique. When there is a need for change is felt and observed that's where the risks start. If that change is not handled correctly then eventually risks are not minimized. Hence, the combine effort of risk management and change management helps value management to bridge the gap between the needs and demands, to eliminate the extra cost and waste , to improve the communication network, and to maintain the standard, and overall to create value for money. Therefore, assessing these three aspects carefully in any project will definitely help in minimizing the commercial risks associated with in and produce improved and good value for money.

Discussion

Providing client satisfaction is considered to be one of the most important aspects and challenge that every organization is facing. Customers are most likely to be satisfied on two conditions, one is when they get what was required by them, and the kind of a design that fulfills meets their requirement in terms of quality, standard and technical characteristics. Secondly, by delivering their project before the given time and it is cost effective. In today's dynamic world and uncertain environment, there is a pressure and a need to improve the quality of making decisions in all the organizations. There are various techniques that have been developed in order to address these types of concerns.

Three of the most important of them are Value management and Risk management and Change Management. Since Value management and Risk management are the techniques and are used to make quality decisions for project management therefore, both of them go hand-in-hand. Whereas, managing the change in an organization is ...