StudentShare
Contact Us
Sign In / Sign Up for FREE
Search
Go to advanced search...

Application of Value and Risk Management in United Arab Emirates Construction Sector - Term Paper Example

Comments (1) Cite this document
Summary
This paper provides a comprehensive analysis and relevant assessment of value and risk management and its application in the UAE’s construction sector. It also presents a brief overview of the concepts of value management risk management and then applies these concepts in the UAE’s construction sector’s context…
Download full paperFile format: .doc, available for editing
GRAB THE BEST PAPER98.4% of users find it useful
Application of Value and Risk Management in United Arab Emirates Construction Sector
Read TextPreview

Extract of sample "Application of Value and Risk Management in United Arab Emirates Construction Sector"

Download file to see previous pages According to Barton (2002), Value management is an integrated process which involves decision makers, stakeholders, specialists, planners, and other works men to bring value in systems, processes and respective products and services of a firm (Kazi, 2005, p. 254).
Application of integrated value management process depends upon the value of a project. This may also include the level of risk involved in its system. A value persistently hides market excellence within its norms and so as the risk which needs to be covered up for achieving the market and business objectives (Kazi, 2005).
Risk management is a submerged process of value management which entirely goes side by side with the overall value management system. In any project like a construction or architecture project, there are certainly some risks and hazards involved. Risk management is an assessment, evaluation, and control of such hazards to vitally achieve the value-based targets of the project. The sub-objectives of a value-based risk management system are cost and time, which are definite to be achieved to meet the overall value objective (Edwards, 1995).
Today both Value and Risk Management are tools of modern application. Whether it is a service organization or an engineering manufacturing organization like construction builder, identify such effective tools to give direction to their systems, projects and working elements (Edwards, 1995). With grounds of engineering, such organizations also include value and risk assessment as part of their technique, because without such tools they are unable to meet desired business objectives (Kamara et al., 2006). Today there are many construction organizations like in UAE which identify Value and Risk management as drivers of their business. ...Download file to see next pagesRead More
Cite this document
  • APA
  • MLA
  • CHICAGO
(Application of Value and Risk Management in United Arab Emirates Term Paper, n.d.)
Application of Value and Risk Management in United Arab Emirates Term Paper. Retrieved from https://studentshare.org/management/1605218-an-evaluation-of-current-and-potential-future-application-of-value-and-risk-management-into-qscpmfmbs-professional-services-in-the-construction-sector-in-united-arab-emirates
(Application of Value and Risk Management in United Arab Emirates Term Paper)
Application of Value and Risk Management in United Arab Emirates Term Paper. https://studentshare.org/management/1605218-an-evaluation-of-current-and-potential-future-application-of-value-and-risk-management-into-qscpmfmbs-professional-services-in-the-construction-sector-in-united-arab-emirates.
“Application of Value and Risk Management in United Arab Emirates Term Paper”, n.d. https://studentshare.org/management/1605218-an-evaluation-of-current-and-potential-future-application-of-value-and-risk-management-into-qscpmfmbs-professional-services-in-the-construction-sector-in-united-arab-emirates.
  • Cited: 0 times
Comments (1)
Click to create a comment or rate a document
ti
tiana77 added comment 1 year ago
Student rated this paper as
I didn’t know how to start my text. "An evaluation of current and potential future application of Value and Risk Management into [QS/CPM/FM/BS ] professional services in the construction sector in United arab emirates" helped me out a lot! Especially the list of closing part was valuable.

CHECK THESE SAMPLES OF Application of Value and Risk Management in United Arab Emirates Construction Sector

An analysis of the United Arab Emirates banking sector

...? Islamic Banking Introduction The recent global financial recession of 2008 is widely considered as one of the most impactful financial depressions witnessed by the global economy which has drastically influenced the global market. During the financial depression of the world economy, the profitability of UAE banking sector was observed to continuously decline fundamentally because of the massive reductions in the funding programs. The banking sector also had to undergo significant pressure on investment and security portfolios, tumbling real estate market and non-availability of adequate funds to allocate loans as per the market requirements. Since the year 2005 to 2007, the banking...
12 Pages(3000 words)Research Paper

The justice in United Arab Emirates

...?The justice in United Arab Emirates Introduction The structure and the rules of a country’s legal system can highly affect the country’s performancein regard to all its sectors, including its positioning as a member of the international community. In any case, the legal framework of each country needs necessarily to be aligned with the rules of international law. Still, potentials exist for differentiation of national law from the international legal rules, especially in the case of national security or other similar condition. Moreover, the culture and the ethics of certain countries have increased power in influencing the content and the scope of national legal system....
18 Pages(4500 words)Research Paper

United Arab Emirates

...income with the service industry leading to a substantial reduction on reliance on the oil, falling to 25 percent (est.). The estimated Gross Domestic Product in 2012 is $ 271.2 billion with a projected growth rate of up to four percent. The economy is majorly dependent on the industrial sectors and the service sector commanding 56.1 and 43.1 percent respectively. Nevertheless, the agricultural sector contributes merely less than 0.8 percent to the national economy. The harsh climatic conditions in the country such as high temperatures, extreme aridity has led to consistent poor performance by the agricultural sector, however, they dates are produced in high quantities...
8 Pages(2000 words)Essay

Value and Risk Management in Construction

.... Risk is also considered as a weighted criterion which is generally present in any evaluation phase. The alternatives here are the risks that are analysed during the development process. For the presentation phase, all the qualitative risk assessments were presented with the mitigations along with the costs and the schedule risk analysis with modern cost plans and better planning. (Mootanah , 1998) Construction risk management basically emphasizes on the main applications of the risk management particularly in the construction industry. It also focused...
10 Pages(2500 words)Essay

Value and Risk Management in Construction

...Running Head: Value & Risk Management in Construction Value & Risk Management in Construction of Value & Risk Management in Construction Case Scenario of Research: TW Corporation is a small but fast growing IT company producing both computer hardware and software systems. The company is considering investing in a new regional HQ as part of an ambitious expansion plan, and are about to commission a major project for this. Funds of approximately 5M have been allocated for this purpose. No major decisions have been made yet regarding a...
10 Pages(2500 words)Case Study

Divorce in united arab emirates

...for divorce if she is abandoned by him for a period of not less than three months i.e. if he has not been providing for her and the children. Also, the law allows a woman to get a khula if she returns back the entire dowry to the husband (Goldschmidt, Puller & Darraj, 2008). In case the applicants of the divorce are both Muslims who emanates from different countries but are residents of United Arab Emirates, they can be divorced using the administrative laws in the country of residence or even United Arab Emirates laws. In case both parties are non-Muslim who are seeking a divorce, they can be granted a divorce...
2 Pages(500 words)Essay

DHL in United Arab Emirates

...DHL in United Arab Emirates a. History DHL’s history in UAE dates back to 1977 when the mother company began shifting from pure delivery of documents to small parcels. In UAE, logistics services were essential given the presence of oil exports and the region’s geographic interface with Asia and Europe. In this regard DHL has continued to develop huge logistics impact in the region since then. The choice for Dubai as a logistics hub by DHL was also as a result of areas world’s largest habors, large free-trade zone, and the presence of freight airport. As a rule, international companies have to partner with local companies to offer their services in UAE and Postal service of Dubai was the...
4 Pages(1000 words)Essay

U.A.E United Arab Emirates

...and place, leading to rapid transformation of the country. Studies have shown that the UAE was in existence even in the 3rd millennium BC with its history being characterized by tribes that practiced fishing, herding, and nomadism. These constituted the primary economic activities in the region during the periods near the 3rd millennium. Bedouins were definitely the main building blocks and pillars of the UAE community. The term Bedouin refers to a desert dweller. Thus, Bedouins took the active part in the construction of the United Arab Emirates. These early desert dwellers moved between the desert, ocean and the oasis. The three environments were critical for their...
12 Pages(3000 words)Essay

Future of United Arab Emirates

...Table of Contents Executive Summary 2 Introduction 1 Historic Economy 1 Argument 2 Overview 2 Dubai 3 Abu Dhabi 3 UAE 4 Financial Corporations 5 Social Development 5 Transport 6 Automobile Industry 7 Education 7 Health Services 8 Population and Employment 9 Tourism Industry 10 Airline Industry 11 Manufacturing Industry 12 Construction Industry 13 Al Ain 2030 14 Hotels Industry 15 conclusion 16 References & bibliography 17 Executive Summary This report is intended to give an analysis for the United Arab Emirates, in terms of economics. Various major sectors that have been and still contribute to economic development of UAE have been highlighted,...
19 Pages(4750 words)Coursework

Economy of United Arab Emirates

...rises in ranks of aluminum majors. Retrieved from: http://www.thenational.ae/business/economy/uae-rises-in-ranks-of-aluminium-majors Geronimo, A. (2014). DC forecasts strong growth in UAE tourism sector. Retrieved from: http://www.tradeandexportme.com/2014/05/dc-forecasts-strong-growth-in-uae-tourism-sector/ International Monetary Fund. (2014). United Arab Emirates—2014 article IV consultation concluding statement of the IMF mission. Retrieved from: http://www.imf.org/external/np/ms/2014/052714a.htm John, I. (2014). International monetary fund sees strong growth for UAE. Retrieved from:...
20 Pages(5000 words)Research Paper
sponsored ads
We use cookies to create the best experience for you. Keep on browsing if you are OK with that, or find out how to manage cookies.

Let us find you another Term Paper on topic Application of Value and Risk Management in United Arab Emirates Construction Sector for FREE!

Contact Us