This module comprises of the history, background, concepts, theories and principles of value management. It also introduces Value Management as a tool to eliminate unnecessary cost during the cost planning and control stage. However, it is known that Value Management should be conducted as early as the concept stage to maximise potential savings and there is no resistance to change. During the course of study, the key player in Value Management study has been introduced, a Facilitator. In order to achieve a successful outcome for a Value Management, a right attributes facilitator should be hired together with the correct selection of team members which also involves key decision takers. It is important for the facilitator to know his roles during the pre-workshop, workshop and post-workshop stage in order to facilitate the team to a success study. This module also covers on the problems and barriers of implementing Value Management which has caused developing country like Malaysia to refuse to undertake the study due to various misconception. Henceforth, recommendations to overcome such issues has been discussed throughout the course of study, in which Institution of Higher Learning, Private Bodies and Government plays an important role to encourage the use of Value Management in our construction industry. In order to encourage more clients/individuals to utilise the Value Management tool in Malaysia, Value Management must definitely bring more benefits then issues during the implementation whereby this has also been taught in this module.
TAYLOR'S GRADUATE CAPABILITIES ( TGC VALUES )
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In this module, it allows us to develop and reinforce our thinking and problem solving
skills by thinking critically to accomplish the task. For instance, we were required to
suggest relevant materials/ design to be replaced to the existing material/ design in
order to enhance the value and function of the building undertaking Value
Management study.
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In this module, we were required to put theories that we have learnt during the
lectures and tutorials into practice as we are required to understand and apply the
Value Management tools and technique such as FAST diagram, Priority Setting
Matrix and Weighted Option Evaluation for our assignment on Taylor's University
Library.
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