Preparation for Value Management Study designed for TechWatt Essay

Preparation for Value Management Study designed for TechWatt Corporation - Essay Example In preparation for the Value Management Study, TMK Services has determined the need for this preliminary report that will address the specific issues that should be evaluated during the first meeting of the project briefing stage. This report will include details of what should be contributed to the Value Management Study, and who will be involved in the process. In addition, TechWatt will need to provide certain information for the Study, which will be addressed. Finally, a proposed agenda will be submitted for approval. Top managers of TechWatt must be involved in every aspect of this process and, since the company is not large, they will be directly monitoring each feature of the process without exception. At the early stages of decision making, there is no need for any delegation of responsibility. As the process proceeds to the construction phase, At the outset, TMK Services has been informed that the funds allocated by TechWatt for the proposed HQ total approximately five million pounds. With that in mind, the first logical step in this process must be to determine a suitable location for building and determine what the cost of the land will be. While some locations may seem more desirable from a strictly logistical or geographical standpoint, consideration must be given to the relative cost of land in any given area being considered. We would suggest that TechWatt management not limit themselves to only one possible location at this stage. Going into the Value Management Study meeting, it would be beneficial to have at least two, if not three possible locations on the table. Considering what has been occurring with the price of land in recent years, it becomes imperative to make the proper decision on location. For example: From 1983 to 2002 the cost of one hectare of land in London went from 0.76m to 5.5m. However, in the South West, the price went from 0.18m to 1.7m. Finally, the lowest prices for land are found in Yorkshire with prices raising from 0.1m to only 0.87m per hectare. (UK Land Prices Rocket, 2003) Prices for land vary throughout additional areas of the country, and specific numbers can be provided upon request, however the purpose of providing these statistics is simply to provide the basis for TechWatt management to understand the importance of this part of the decision making process. Obviously, the cost of the land on which the HQ will be constructed will play a major roll in determining the amount of finances remaining for the building process. 3 Although a full hectare of land may not be necessary for this project - that is a determination that will be made at a later date - understanding the cost of land in various locations must be a vital part of the process for TechWatt management. Other factors will need to be considered regarding location, as well. These include: accessibility of location (is it close to majors thoroughfares and easily accessible from airport); quality of surrounding area