The World of Innovation - Managing Value, Risk & Relationships

“The World of Innovation” has been adopted as the main title because for the first time this year, the highly successful Hong Kong Institute of Value Management (HKIVM) International Conference extends its remit to the Asia Pacific region and also aims to draw in new industries to participate in what promises to be a major business and educational event. Co-hosted by the Institute of Value Management Australia (IVMA), the Architectural Services Department (ASD) and the City University of Hong Kong (CityU), the Convention invites you to come along and stretch your perceptions and explore the potential of applying Value Management (VM), Risk Management (RM) and Partnering within your organization or business. Our conference covers all aspects of organizations, including hard and soft issues, ranging from premises, facilities, designs, systems, production, procurement, supply and delivery, and human resource management.

Aims

This conference aims at providing a timely forum for us to share our experiences and impart our valuable knowledge to different countries and sectors that can benefit from VM. VM provides a direct and highly efficient way to identify risks, solve problems, enhance relationships and keep the process on track in a fully encompassing and systematic manner.

• Value Management (VM) can be used to provide a direct and highly efficient way to solve problems, ratify solutions and keep business processes on track in a fully encompassing and systematic manner. More than this, it also invariably enables significant cost cutting, whilst at the same time adding value to outcomes as well as expediting processes and has become a highly successful change-management methodology across a wide range of businesses.

• Risk Management (RM) is the systematic application of management policies, procedures and practices to the tasks of establishing the context, identifying, analysing, evaluating, treating, monitoring and communicating risk. The HKSAR Government has recommended that all major construction projects should adopt a risk-managed approach as a way to improve budget certainty. Risk management allows both quantitative and qualitative methodologies to be applied to the culture, processes and structures that are directed towards the effective maximization of potential opportunities and minimization of adverse effects.

• Relationship Management is a term that covers the diverse range of interactions in practically any management process and one typical example of its use is in project partnering in the construction industry. Partnering is a set of collaborative processes rather than simply a form of relationship; it is a co-operative arrangement between two or more organisations based on mutual objectives and increased efficiency through shared resources, open communications and continuous improvement.