CO7003 Managing Risk and Uncertainty CW2 Assessment Brief | LMU

Essential Information

Learning Outcomes

The module learning outcomes relevant to this assessment (either assessed in part or in full) are listed below:

LO4. Distinguish between risk and uncertainty and understand their implications for value management

To perform the first task, you should join a group of students (a maximum of five) and act as a project stakeholder in the value engineering workshop to determine the optimum façade system for Block A of the Verdica Camden, which is near Chalk Farm underground station, one of the busiest areas in Camden Town. More details on the task are shown in the table below.

The second part of this coursework is a research-based task in which you should individually investigate the integration of the risk management system and the value management system. Consider a construction project to determine the most effective use of the integrated system throughout the project's lifecycle. The table below demonstrates the research aspects to consider.

First Case | Manufacturing Sector

Product Function Analysis: Smart Reusable Water Bottle

Your team is developing a smart reusable water bottle designed to promote hydration and reduce single-use plastic waste. The product includes smart features such as temperature control, a hydration reminder, and integration with a mobile app.

• Determine and Define Each Function. (In Table)
• Draw a Function Analysis System Technique for the Smart Water Bottle. (In Diagram)
• Discuss how the design could be improved using principles of value engineering or sustainable product design. (500 words)

Second Case | Construction Sector

Product Function Analysis: Prefabricated Wall Panel System

Your company is evaluating the use of a prefabricated wall panel system for mid-rise residential buildings. The system is designed to improve features such as on-site labour, improve thermal performance, and speed up construction.

• Determine and Define Each Function. (In Table)
• Draw a Function Analysis System Technique for the prefabricated wall panel. (In Diagram)
• Discuss how the FAST diagram could support value engineering efforts or off-site construction strategies in project planning. (500 words)

Format of the Submission

Each work package should be submitted in report format, with an introduction, main body of the document, conclusion, references and bibliography, and supporting materials in the appendices.