Implementation of Value Management for the Project Success

Year : 2023 | Volume :01 | Issue : 02 | Page : 42-59
By

    ABINAYA . P*

  1. Selvendiran S.G

  2. Surya Raj Kumar

Abstract

Value management plays an important role in the quality, cost, and functionality of any construction project. The article examines the various applications of value management by examining the methods and techniques in the construction industry. This article examines the various factors involved in the strategies to increase the value of the project and the factors affecting project success. The analysis of the factors was listed according to the priority matrix, and major factors are highlighted based on value for money, quality, and functionality. A questionnaire survey was conducted to know the views of the construction professionals working on methods of value management in the construction industry.

Keywords: Value management, key factors, correlation matrix, success, construction industry

[This article belongs to International Journal of Architectural Design and Planning(ijadp)]

How to cite this article: ABINAYA . P*, Selvendiran S.G, Surya Raj Kumar , Implementation of Value Management for the Project Success ijadp 2023; 01:42-59
How to cite this URL: ABINAYA . P*, Selvendiran S.G, Surya Raj Kumar , Implementation of Value Management for the Project Success ijadp 2023 {cited 2023 May 23};01:42-59. Available from: https://journals.stmjournals.com/ijadp/article=2023/view=106855


Browse Figures

References

  1. Zhao R-J, Moh WH. Value management practices on major construction projects and green building. Front Eng Manag. 2016; 3 (2): 147–157.
  2. Newcombe, R. From client to project stakeholders: a stakeholder mapping approach. Constr Manag Econ. 2003; 21 (8): 841–848.
  3. Ahmed KAA, Pandey RK. Concept of value engineering in construction industry. Int J Sci Res. 2016; 5 (4): 1231–1237.
  4. Austin SA, Thomson DS. Construction value management revisited: the designer’s role. Glasgow, UK: Glasgow Caledonian University; 2001.
  5. Albert PC, Chan PM, Ho B. Value management in construction, J Build Econ. 1996;
  6. Department of Statistics. Central Bank Annual Report, Central Bank of Sri Lanka, Sri Lanka. Australia: AIQS; 2002.
  7. Department of Census & Statistic. (2002). National Account of Sri Lanka, Ministry of Finance & Planning, Sri Lanka.
  8. Institute of Civil Engineers. Creating value in engineering projects. London, England: Thomas Telford; 1996.
  9. British Research Establishment. Value from construction: getting started in value management. Watford, Herts, England: BRE; 1997.

Regular Issue Subscription Original Research
Volume 01
Issue 02
Received March 27, 2023
Accepted April 26, 2023
Published May 23, 2023