VALUE & RISK APPRAISAL

SHE Level 4
SCQF Credit Points 20.00
ECTS Credit Points 10.00
Module Code MHN325349
Module Leader David Manase
School School for Work Based Education
Subject SCWBE
Trimesters
  • A (September start)
  • B (January start)
  • C (May start)

Summary of Content

Introduction to Risk Management Risk Management cycle Evaluation of risk analysis and management systems Project framework risk management Procurement and risk Value Management- Introduction to value management. Value management in practice- Analysis of value management systems The percentage of Work Based Learning for this module, as represented by the Independent Learning "Activity Type", is 82 %. The percentage of Work Based Assessment for this module is 35%, which is represented by Coursework 1

Syllabus

Risk Management Introduction to risk management - uncertainty, risk, sources of uncertainty, risk categorization and classification Risk management cycle - identification, analysis and response strategies Quantitative and qualitative methods of management Financial risk management and Public Private Partnerships. Procurement and risk Advances in risk analysis software (e.g. @ Risk) Project selection and evaluation techniques Risk Management software Value Management Introduction to Value management Leadership, construction project briefing and Group Skills - Designing to function/creativity Evaluation of alternatives Format of VM studies/relationship with other techniques - VM in UK, USA and Japan Value management workshop Best value requirements Presentation of VM study Integration of value management and risk management processes

Learning Outcomes

On completion of this module the apprentice should be able to:- 1. Critically examine and appraise investment options2. Analyse and synthesise risk related information3. Offer professional insights and interpretation in isolating factors, constraints and uncertainty involved in decision making processes of a project4.Critically define and evaluate functions of a project5. Evaluate and make judgements of alternative client options in a project6. Demonstrate professional insights and interpretation in isolating factors and constraints in the production of a value management report.[A2, A4, A6, A7, B1-B4, B7]

Teaching / Learning Strategy

In consideration of the teaching & learning strategy of this module is to provide the student with the time and space to develop an understanding of the context and principles of investment and risk appraisal generally and project specific. In the context of a work based ethos, teaching and learning methods use authentic work based scenarios to promote action learning, inquiry based learning, problem based learning and peer learning. In addition, at this academic level students are expected to take a critical stance as they draw on academic theories and techniques in order to frame, analyse and solve actual work-based problems. These approaches directly involve the apprentice in the process of learning and also encourage collaborative learning. The module will begin with 2 days of introductory seminars to provide the apprentices with a clear understanding of the curriculum and assessment requirements of the module and to engage in question / answers sessions. The remainder of the module is delivered online via GCULearn. The online component is structured using a week by week template and guides the apprentice through the subject learning and assessment requirements of the module. A range of resources such as PowerPoint, Camtasia, video clips, web links and other tailored learning relevant to the module topics are used.. Learners will be supported throughout by the module team. This includes the lecturers, work based / industrial mentors and Academic Development Tutors. Clear sign posting will ensure that module learning outcomes are progressed, reinforced though a carefully mapped formative assessment of concepts / strategies and the application of critical subject matter. This facilitates an evaluation of the level of comprehension attained by the apprentice and also enables the module team to provide support and guidance as required through email, GCULearn announcements, blogs, skype of Collaborate discussions. Summative assessments are compulsory. A mark of 35% must be achieved for each summative assessment and an overall / aggregate mark of 40% must be achieved.

Indicative Reading

Essential-5 Texts Flanagan,-1 Roger -1 and -1 Norman, George (2011)-1 2nd -1 Ed -1 Risk Management-1 and -1 Construction, John Wiley-1 & Sons : ISBN 9781405131490. -1 DellUIsola, Alphonse-1 (1988) -4 Value -1 engineering -1 in the-1 construction-1 industry (3rd Ed) Smith,Hinchman-1 & Grylls Burtonshaw-Gunn,-1 S. A. (2009)-1 Risk -1 and Financial-1 Management-1 in -1 Construction, Gower-1 Publishing-1 Ltd: ISBN 9780566088471. Kelly,-1 J., Morledge,-1 R., Wilkinson, S. J. (2008) Best -4 Value -1 in -1 Construction (1st Ed) Wiley-1 Blackwell : ISBN 9780632056118. Kelly,-1 J., Male, S., Graham, -1 D. (2014)-1 2nd -1 ed -4 Value Management-1 of -1 Construction Projects, Blackwell: ISBN 9781118351239. -1 Recommended-4 -5 Texts -1 Raftery, John-1 (2003) -1 Risk-10 Analysis -1 in Project-1 Management, -1 Routledge: ISBN 9780203474556. Flanagan,-1 Roger -1 and Stevens, Susan, -1 edited -1 by Brandon,-1 P. S. (1992) -1 Risk-10 Analysis -1 in Quantity-1 Surveying-5 -3 Techniques - -1 New -1 Direction, Blackwell-1 Scientific-1 Publication-1 - -1 Chapter -1 5, -1 pp -1 121-138 Thompson,-1 Peter -1 and Perry, John (Edts) (1992) 2 nd Ed:-1 Engineering-1 construction risks: A-10 -1 guide to -1 project risk -1 analysis -1 and management Thomas-5 -4 Telford ICE-1 Publishing: ISBN 9780727716651. Sawczuk,-1 Basil-1 (1996) -1 Risk-10 -1 Avoidance for-1 the-1 Building-5 -4 Team, -1 Routledge: ISBN 9780419208105. Byrne, Peter (1996)-1 Risk, -1 Uncertainty -1 and -1 Decision-Making -1 in Property -1 Development (2nd-1 Ed) -4 Taylor & Francis : ISBN 9780419119500. Smith, -1 N. J., Merna, T., Jobling,-1 P. (2013)-1 Managing risk -1 in -1 Construction Projects (3rd Ed) Wiley-1 Blackwell : ISBN 9781118347232. -1 Chicken, J. (1994)-1 Managing-1 Risk -1 and -1 Decisions -1 in Major Projects, -1 Cengage -1 Learning EMEA: ISBN 9780412587306. -1 Murray-Webster, -1 R. (2010)-1 Management-1 of -1 Risk; Guidance-1 for-1 Practitioners (3rd Ed) Stationery-1 Office : ISBN 9780113312740. -1 Loosemore, M. (2005)-1 Risk Management -1 in Projects-1 (2nd-1 Ed) -1 Routledge: ISBN 9780415260565. Flyvbjerg,-1 B. -1 et -1 al (2014) Mega-1 Projects-1 and -1 Risk, -1 Cambridge Press; ISBN 9781107050891. -1 Cartlidge, -1 D. (2006)-1 Public-1 Private Partnerships-1 in -1 Construction, -4 Taylor Francis: ISBN 9781134224951. -1 Dallas, M. F. -3 (2011) -4 Value -1 and -1 Risk Management: a -1 guide to -1 best -1 practice (1st Ed) Blackwell: ISBN 9781405120692. -1 Ngwira, M., Manase,-1 D. (2015) Public-1 Sector Property-10 Asset Management, Wiley-1 - Blackwell: ISBN 9781119085768.

Transferrable Skills

Application of IT in Risk Management activities Teamwork, written and oral presentation [C1, C2, C3-C5, D1, D3-D6, E1, E5, E6, E7]

Module Structure

Activity Total Hours
Seminars (FT) 12.00
Independent Learning (FT) 163.00
Assessment (FT) 25.00

Assessment Methods

Component Duration Weighting Threshold Description
Course Work 01 n/a 35.00 35% Assignment on Risk Management (2000 words)
Exam (Exams Office) 3.00 65.00 35% Examination on Value Management and Financial risk management & Public Private Partnerships.