University of Twente Student Theses
Value management principles applied to opportunity and risk management processes : a case study for Rijkswaterstaat
Geerdink, Nikos (2021) Value management principles applied to opportunity and risk management processes : a case study for Rijkswaterstaat.
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| Abstract: | In the construction industry, managing risks is of great importance to cope with uncertainties. However, the construction industry is characterised by high complexity and dynamics, resulting in high uncertainty and risk-levels. Currently, methods for managing risks are still developing. Additionally, the concept of risk has evolved from one focussing on the likelihood of a negative outcome, to a focus on both negative and positive outcomes, meaning that opportunities are involved too. Several studies show that there are problems with the assessment of opportunities and risks. Rijkswaterstaat encounters similar problems, so a case study has been performed for this company. Rijkswaterstaat is the executive agency of the Dutch Ministry of Infrastructure and Water Management. Just as previous studies describe, they experience problems with the assessment of opportunities and risks. Specifically, they experience loss of value because for assessing opportunities and risks, the focus is too much on quantitative assessment, rather than qualitative assessment. Alongside this problem, Rijkswaterstaat has no view on how to increase value of the entire opportunity and risk management process. To address this problem, value management principles were applied to increase value of the opportunity and risk management process of Rijkswaterstaat. Value management is a systematic and structured approach for improving projects, products, processes, services and organizations. The value management principles were applied as part of the methodology, meaning that certain aspects of the value management methodology are used for the methodology of this study. Also, value management principles were integrated in the redesign. To address both aspects, this study follows four phases. The aim of the first phase is to determine aspects in the current opportunity and risk management process to increase value of. For this, current guidelines for opportunity and risk management at Rijkswaterstaat were analysed and seven semi-structured interviews with experts of Rijkswaterstaat were conducted. Based on this, three aspects were determined to increase value of. Based on the interviews; awareness, consensus and information exchange appear to be the most important aspects to increase value of in the opportunity and risk management process. |
| Item Type: | Essay (Master) |
| Faculty: | ET: Engineering Technology |
| Programme: | Civil Engineering and Management MSc (60026) |
| Link to this item: | https://purl.utwente.nl/essays/88895 |
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