Enhancing Value for Money and Business Performance in Road Construction
This module focuses on understanding the concept of value for money (VFM) in road construction projects, emphasizing quality assurance standards, setting Key Performance Indicators (KPIs), and evaluating output and outcomes. It explores the importance of delivering economy, quality, and timeliness, revisits VFM consciousness, and discusses the stakeholders involved in achieving VFM. Key performance indicators, quality assurance strategies, and group activities related to ensuring quality control without compromising profitability are also covered.
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Presentation Transcript
Module 3: Session 5 VALUE FOR MONEY AND BUSINESS PERFORMANCE Module 3: Session 5 1 3/18/2025
Session objectives To emphasize value for money issues in road construction; To create awareness of quality assurance standards; To set Key Performance Indicators (KPIs). Module 3: Session 5 2 3/18/2025
Value for money (VFM) revisited 1. Value for money consciousness / lifestyle 2. Strive to deliver Economy Quality Timeliness 3. Evaluate output and outcome Module 3: Session 5 3 3/18/2025
Value for money (VFM) Delivering of output and outcome for who? Community Shoddy work? Hazards of construction? Contractor Repeat jobs? Better profitability? Reputation? Government Specifications?; Popularity? Module 3: Session 5 4 3/18/2025
Key Performance Indicators 1) Production Works volume 2) On time Unit workload per day 3) On budget Standard Unit Cost 4) Equipment Output/day, consumption/Hr 5) Employees Output per person per day 6) Investment ROI 7) Solvency Liquidity and quick ratios Module 3: Session 5 5 3/18/2025
Quality assurance strategy Intended to ensuring best value for client in terms of processes and output. Quality standards should be set depending on nature of road works Module 3: Session 5 6 3/18/2025
Cont Such standards will include: Unit of output mix Customer service Process time Manpower skills Supervision and approval Inspection and testing Design and implementation planning Quality measurement Safety and health Equipment functionality Nature of technology Module 3: Session 5 7 3/18/2025
Group Activity Group Discussions 1. Identify stakeholders in road construction and state their perception of value for money; 2. List tactics you can use to ensure quality control without compromising profitability; 3. Identify quality assurance challenges in road construction and state how quality service impacts business growth; 4. Discuss advantages and disadvantages of a high quality business strategy; 5. Discuss the factors that lead to compromising value for money delivery. Module 3: Session 5 8 3/18/2025
