Value and Risk Management Essay Example | Topics and Well Written Essays - 4000 words

Value and Risk Management - Essay Example This maximizes the potential use of the project. Value management focuses on the functions to provide maximum benefit. It aims for simplification without disregarding quality. Value engineering is synonymous with value management but the former focuses on the technical aspect. These two however could be interchanged. Value management (VM) is now a regular feature in the construction industry. A VM Team conducts a meticulous process of inspection and monitoring, brainstorming and analyzing the functions with respect to the entirety of the project. After that, it will provide the necessary recommendations to the client. The first part of the study focuses on value management which includes the four stages of the workshop. There are recommendations on the budget constraints of SBE Innovations, so that the amount could be maximised while reducing unnecessary costs. The VM study determines how construction can be simplified as quality remains. Functional analysis in value engineering aims to reduce the cost. Value engineering will be conducted to perform the following activities: Value engineering will focus on the engineering and technical aspects. Value management is more on the management and administrative side of the study, but both will be conducted simultaneously to attain greater results. In most cases, VM and VE are considered synonymous. Our consultancy firm has been in the forefront of value management in construction. We have conducted VM and VE for various clients, while our aim is to increase the value of any project. This new project with SBE Innovation is another major milestone and a challenge. Each and every part of the project is important, therefore, this should be given value by conducting a thorough analysis to determine whether a part is an important element of the whole. If it is not too important, the team will

Consumer Behavior Research Paper Example | Topics and Well Written Essays - 750 words - 1

Consumer Behavior - Research Paper Example It was primarily responsible for introducing smartphones to the public. This product made consumers realise that they could browse the web, communicate and do several other things on their mobile phones. It was after the Apple iPhone that the mobile app market rose to its current status. Apple was not the engineer or pioneer of mobile applications or smart phones; however, they were responsible for introducing it to the mass market. Through their elegant presentation, gracious store atmosphere, and well planned innovations, the company has garnered a loyal following from electronic and mobile enthusiasts alike (Sass 2). Every time Apple launches a new version of the IPhone, hoards of consumers will be waiting in line at any of their stores for the purchase of its products. Sometimes, buyers may camp outside their branches overnight. The organisation may get pre-orders for about 2 million iphones within the first hour of release. For the past five years, the same hype has been created around Apple’s products, and it looks like this trend will continue in the foreseeable future. As explained earlier, clanning is a phenomenon that takes place among consumers who share similar values and interests. Part of the reason why Apple products create a lot of excitement is the fact that they bring together persons with similar interests. When one consumer was asked why they would wait for hours in line in order to buy an iPhone, the person replied that it is an opportunity to meet people who have the same passion. The company has a community of enthusiasts who simply enjoy being part of something new and exciting. They thrive in the anticipation and suspense created around a new product launch. Apple is well aware of this consumer behaviour, thus explaining why it always creates a lot of secrecy around its launches (Vuong 6). The organisation never tells buyers how many phones it has stocked in order to create suspense.