Modern Project Management

(ISSN: 2317-3963)

Utilizing crave framework for a better value engineering and risk management intergradation in construction projects

Kamal Jaafar
University of Wollongong in Dubai, United Arab Emirates
Bilal Maarouf
Project Manager, Heliopolis Contracting, Abu Dhabi, United Arab Emirates
Ahmed Elsayeh
Director of projects and quality at smartworld, United Arab Emirates


The construction industry in UAE, companies tend to take informal risk without calculated measures. Companies need to control risk in order to create value and maintain the quality of their services. To accomplish this, risk management team and value engineering team should be working as one team. Through Value Engineering and Risk Management, companies will be succeeded in delivering their project with low risk at a high value. In order to achieve better value for money and quality deliverables, the industry will require an effective management for the risk integrated in their project. Therefore, the integration of value engineering and risk management is essential to maximize the project value and will enrich the consequences of both processes. Furthermore, the integration of both procedures will improve the efficiency of the workshop activity and hereby it will provide a powerful tool management within the construction industry. There were different terminologies for the integration of value engineering and risk management that is described in this research. The CRAVE terminology which is a combination of Cost Risk Assessment and Value Engineering is one of the processes that integrate value engineering with risk management. Existing research revealed how the CRAVE process was used successfully in the infrastructure and transportation related projects. However, it is evident from the literature that the CRAVE process was not implemented for the construction of different types of buildings. This research will investigate the possibility of implementing the CRAVE process on a residential type building. The construction of high class villas will be used as a case study and will explore the effect of this integration on the value of the project. The author interviewed several engineers, who are the decision makers in the project to study the effect of CRAVE processes on the project and how it should be implemented. The research concluded the framework of the integration of VE and RM that can be used in the construction projects and showed the following benefits:

Keywords: CRAVE framework,, Value Engineering, Risk management.



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