Value and risk management of proposed hotel development

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Reference no: EM13892950 , Length: 5332 Words

Value and Risk Management of proposed hotel development

Scenario

Your client is developing a high end hotel, of 4 or 5 star quality, providing 400 bedrooms. The City centre site (Dubai) has been identified and purchased and the client has selected RIBA PoW 2013 framework to manage and deliver the project.

The client is seeking innovative scheme proposals to become market leader in exploiting the growing business and leisure market opportunities that a high-end hotel will service. Your VRM consultancy has been hired to provide value, cost and risk services to the client and design team at the stages of RIBA PoW 2013 identified below. The purpose of hiring your consultancy services is to ensure the existing design team develop innovative and cost efficient scheme proposals befitting a high profile and prestigious development that can be delivered on time and to budget.

RIBA PoW Stage 0 - Strategic project overview

Prepare a report for the design team explaining the relative importance to the client of each of the six categories of value identified in the CABE value driver categorisation, and suggest how these might influence the design. This will help ensure the design team understand the client's values as they develop the design solution. " It's Attached as CABE VALUE DRIVERS"

RIBA PoW Stage 1 - The project budget

Advise the client on how much they should budget for the hotel development (exclude external works) based on cost models (BCIS) "you will choose a file (breackdown example) and the BCIS not in the information it is attached in the reference file, you will choose a random breakdown structure and compare it to our hotel and do similar one. of hotel projects and propose an outline cost plan for the project. Then also find and compare 4 hotels in Dubai city which also have the same budget as our hotel (Ex: Sheraton, Hilton, Rotana), its about (5000 - 6000 DHS/sqm). The BCIS example attached is in Euro Currency You must change it to (DHS/AED) UAE Currency.

So ,You must do similar to the BCIS example but for our Hotel.

RIBA PoW Stage 3 - Developing the design

It is nine months on from Stage 0 and the client is facing some financial difficulties. They are demanding a 10% cut in the budget.

It is nine months on from Stage 0 and the client is facing some financial difficulties. They are demanding a 10% cut in the budget from the design team. Prepare a report on how this can be achieved by proposing elements of your cost plan to be targeted for a VE study and explaining why they have greatest potential for achieving the saving whilst minimising impact on the quality and integrity of the development. You are encouraged to make radical value engineering proposals which go beyond traditional cost cutting. " So you will cut 10% from the SAME BCIS you did in Stage 1 - The project budget" , You will use the file "HotelCostModel" attached. You can also use other HW University Library Journals.

RISK

RIBA PoW Stage 0 - Strategic risk assessment

The site has been identified, the project team assembled and the project is now nearing the end of Stage 0. However, before the client commits to proceeding with the project they want to carry out a strategic risk assessment on which they will base their go/no-go decision.

Prepare a report on the major internal and external strategic risks facing the client from the project, and outline recommendations for dealing with these. Conclude your report by recommending whether or not the client should commit their investment to the project and proceed.

Your Reference will be from HERIOT WATT UNIVERSITY library Books OR Journals "http://www.hw.ac.uk/is/find-resources.htm
OR http://www.hw.ac.uk/is/resources/journals.htm".

RIBA PoW Stage 5 - Risk control and construction

Assume the project has proceeded to this stage.

Prepare a risk register of the top 5 risks facing the project team and contractor. This should outline the associated control measures that will deal with these risks.

Indicative word count : 4500-5000 words

1- Your are required to make a Harvard Referencing / End Note for ALL References

2- YOU are strictly prohibited to take any information from any websites on the internet other than Heriot-Watt Library, and For PoW Stage 1 to find Hotels in Dubai.

3- Detailed marking on the project is attached check it and get an idea on how the Project will be Marked.

4- Referencing should be under each part/question.

5- 20 references are required for the (4725 words) which will be (15 Journals and 5 Books) From the University Library ONLY http://www.hw.ac.uk/is/find-resources.htm.

6- If you want to add to the cost budget extra information and you exceed the 5000 words then make an appendix and add the extra information on it.

Verified Expert

Reference no: EM13892950

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