| CODE | CNM5804 | ||||||
| TITLE | Project Systems 2 (Value and Risk Management) | ||||||
| UM LEVEL | 05 - Postgraduate Modular Diploma or Degree Course | ||||||
| MQF LEVEL | 7 | ||||||
| ECTS CREDITS | 5 | ||||||
| DEPARTMENT | Construction and Property Management | ||||||
| DESCRIPTION | The study-unit introduces the principles of value and risk management. The processes in which the financial benefits of a project are made explicit and appraised consistent with a value system determined by the client are explored in the context of a risk oriented approach. The study-unit provides information about the various steps which comprise the process of risk management so as to support those professionals tasked with undertaking the job in the real world. Study-unit Aims The aims of the study-unit are two fold. In the first part (4 weeks) the concept of value management and risk management are introduced. The second part is designed to assimilate issues and topics discussed in earlier semesters regarding project planning, contract law, project planning, legal issues regarding contracts and health and safety and, within the context of case studies explore value and risk aspects. Learning Outcomes 1. Knowledge & Understanding: By the end of the study-unit the student will be able to: 1. Within a case study scenario, identify the value aspects of a project and produce a management report identify the strengths and weaknesses of a project in this regard; 2. Within a case study scenario, identify the risk management aspects of a project and produce a risk analysis report; 3. Within a case study scenario appraise the combined risk and value aspects of a project and produce an executive report detailing the findings and proposing recommendations. 2. Skills: By the end of the study-unit the student will be able to: 1.Analyse a project's value characteristics within an established value management framework; 2. Ana lyse project risks within an established framework for risk analysis; 3. Produce an executive management project appraisal report featuring all the key strategic issues that should be addressed by senior decision- making management levels. Main Text/s and any supplementary readings Managing risk in construction projects. N J Smith (ISBN 0-632-04243-5) Risk management in project organizations. P. Edwards and Paul Bowen ( 075066 629 3) Risk Management in Projects. Martin Loosemore (0-415-26056-6) Best Value in construction. John Kelly ( 0-632-05611-8) Value Management of Construction Projects Steve Male et. ( 0-632-05143-4) |
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| STUDY-UNIT TYPE | Lecture, Seminar and Tutorial | ||||||
| METHOD OF ASSESSMENT |
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| LECTURER/S | Steven Male Joseph H. Spiteri |
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The University makes every effort to ensure that the published Courses Plans, Programmes of Study and Study-Unit information are complete and up-to-date at the time of publication. The University reserves the right to make changes in case errors are detected after publication.
The availability of optional units may be subject to timetabling constraints. Units not attracting a sufficient number of registrations may be withdrawn without notice. It should be noted that all the information in the description above applies to study-units available during the academic year 2024/5. It may be subject to change in subsequent years. |
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