Assume you are working for a value management consultancy that has been asked to carry out a value review for the Citizen M Hotel project in London. The client aims to design and build a 6-story, 2-star hotel with a BREEAM rating of Excellent and external works, services, and drainage. The construction type is steel-framed. The hotel has 192 prefabricated bedroom pods, factory-installed fittings and finishes, 386 m2 meeting rooms, and a bar/cafe.

The project timeline is 11 months, starting on Dec 2023, with a total budget of 13,689,781. The contract is a design & build contract with a fixed price/unit. Prepare a report for the client team to demonstrate how a VM study can effectively improve value for money (VfM), which shall consider and include the following:

1. Strategic Value Study

Develop the client project value system for the scheme relevant to the early stages of the RIBA Plan of Work in the form of a pairs-comparison matrix to reflect the priorities and measures of success for the case study. You are considering project aim & objectives, project characteristics, as well as the categories of stakeholders that should be involved in the value study for the given scenario. An explanation on the relative importance of the nine dimensions of value is also required to ensure the design teams have a better understanding of the client's values as they develop the design solution.