INTEGRATION OF VALUE MANAGEMENT AND RISK ANALYSIS IN THE CONSTRUCTION PROJECT

Document Type : Research articles

Authors

1 Plot 01, Block 03, Area 9, Nasr City, Cairo, Egypt

2 Teacher Assistant in Department of Architecture Future Higher Institute of Engineering and Technology, Fayoum, Egypt

Abstract

The study aims to integrate value engineering and risk management, to simulate the best relations between the 
efficiency of functional performance, quality level and the building cost. Those frameworks have been used 
separately on the projects for many years. There is an ideal proposal to integrating those frameworks to be an 
efficient technique to development the project performance. The study methodology will integrate elements 
between value engineering and risk management, which is the restructuring of the management system of projects, 
for consensus and exchange between different stages of design and implementation of the project. There is an ideal 
proposal to integrating those frameworks to be an efficient technique to development the project performance. The 
application of integrated risk and value methodologies makes the final cost of quality issues is more accurate results 
and analysis. The integration is applied to luxurious social housing in the new administrative capital in Egypt. It 
will apply the measuring tools for each methodology at the value analysis and risk approach. In addition, it identifies 
the unnecessary cost elements and finds effective alternatives. It is analysis through the indicator of the risk factors 
and providing the creative value ideas. Finally, the research outlines what it covered and presents its conclusions.

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