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TechWatt Value and Risk Management

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These are TechWatt’s presently known five requirements. First, fulfil the perception of value in making such a move. Second, provide enough space for 15 people working in a laboratory and light manufacturing. Third, provide enough office space for 12 managers and administrative staff. Fourth, provide space (e.g., a conference room) to accommodate visiting customers and prospects. Two conference rooms are preferable so when visitors use one, TechWatt employees have the other as needed. Fifth, TechWatt has 5 million to make a headquarters.
These pre-project objectives are an incomplete preferred solution. It’s an ‘initial brief’ with too little information to proceed to Strategic Briefing. TechWatt makes software-hardware products. Constructing a headquarters facility is new with many unknowns. TechWatt will rely strongly on its Architect to be the Lead Consultant (LC) responsible to apprise the company of occurring new developments at each step, and giving good advice. Using the LC’s experience is the smart approach to manage and try to optimise value and minimise risk, and do a Strategic Briefing.
TechWatt must more thoroughly define value. The Architect/LC is in the best position to help clearly and concisely define and communicate value priorities and measurable expectations. This joint-effort Study uses RIBA’s Plan of Work to clearly define value. Using RIBA methods, the LC shall guide TechWatt’s work to identify and develop requirements (value), as well as identify constraints possibly blocking development. This is ‘Work Stage A’ or the inception of the Headquarters Project (HQP). Stage A / Inception requires careful considerations, or appraisals of as many things as it is possible to see about the HQP.
The output of the Inception/Appraisal is a Strategic Briefing which is ‘Stage B’. The Strategic Briefing shall define measurable value for the HQP. To make these determinations TechWatt shall work in conjunction with the LC. For now, all parties are evaluating the initial brief.
Needed: Strategic Briefing with clarity – RIBA Work Stages A and B
TechWatt needs to clearly determine future goals and scope of the HQP. Between now and the future, there is a gap to bridge. Management perceives value of the HQP as a bridge across the gap. TechWatt management has a Business Case mindset to support the aim to make a new headquarters. Business factors must stay in focus. Emotions must not override them.
TechWatt’s executive management team and front-line management (hands-on software and hardware experts) are best suited to clarify ideas for a Strategic Briefing about headquarters. To successfully launch the HQP, management must clearly define but not be limited to:
– expected value added to TechWatt by the new headquarters,
– ‘must have’ resources (accommodations, capabilities, etc.) in the new headquarters,
– ‘nice to have’ resources (but possible to live without),
– people and machines to make headquarters run well into the future,
– trade-offs – pros and cons to of creating headquarters or not (cost of Doing nothing),
– actual costs (Quantity Surveyor with input of Production, Purchasing and Accounting), and
– opportunity costs (money lost by not doing certain opportunities. brainstormed largely by