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Managing Value

Published 13th February 2006 by Constructing Excellence

Whether you are regularly involved in construction projects or have a one-off need to commission construction work, you will be interested in securing a final product which offers value for money and satisfies owner and user needs, now and in the future.

Value Management is a powerful yet simple, structured, methodology.

  • It matches the delivered building to owner and user needs, improving performance and quality whilst reducing costs and eliminating waste.
  • It focuses on defining the client’s needs and priorities (for example, capital and/or life cycle costs, sustainability, speed) in simple terms, but precisely.
  • The whole team works together, under the guidance of an experienced Facilitator, to identify, to satisfy, and to exceed, the client’s expectations.

The methodology can be applied to any business or economic sector including industry, government, construction and service and at any point in the project from brief through operation to maintenance and repair.

Some functions of Value Management:

  • Increase Predictability
  • Increase Productivity
  • Increase Turnover
  • Increase Profit
  • Increase Output per employee
  • Exceed Expectations
  • Get it Right First Time
  • Reduce Capital Cost
  • Reduce Borrowings
  • Reduce Construction Time
  • Reduce Time to Market
  • Reduce Defects
  • Reduce Accidents
  • Reduce Maintenance Costs
  • Reduce Operational Costs
  • Reduce Staffing Costs

The success of Value Management lies in an experienced Facilitator bringing together and focusing the combined intellect of the whole project team, including the client, in a non-confrontational environment.

The Business Benefits summarises case studies that, by reference to the functions listed above, show just how Value Management has benefited construction projects.

Value Management Factsheet

Filed in: Business Processes