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Value management as a cost control approach to improve project with value for money during design stage

Value Management (VM) is a methodology that has been adopted to facilitate decision-making on construction projects to deliver ‘value for money’ for clients[1]. It provides various approach to meet project needs and functions as required by the clients. This paper aims to investigate the needs of VM...

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Main Authors: Yeo, Han Ming, Lee, Benny Hai Chim
Format: Article
Language:English
Published: INTI International University 2018
Subjects:
HD28 Management. Industrial Management
T Technology (General)
TH Building construction
Online Access:http://eprints.intimal.edu.my/1341/1/vol2_2018_9.pdf
http://eprints.intimal.edu.my/1341/
http://intijournal.newinti.edu.my
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id my-inti-eprints.1341
record_format eprints
spelling my-inti-eprints.13412019-11-27T02:46:28Z http://eprints.intimal.edu.my/1341/ Value management as a cost control approach to improve project with value for money during design stage Yeo, Han Ming Lee, Benny Hai Chim HD28 Management. Industrial Management T Technology (General) TH Building construction Value Management (VM) is a methodology that has been adopted to facilitate decision-making on construction projects to deliver ‘value for money’ for clients[1]. It provides various approach to meet project needs and functions as required by the clients. This paper aims to investigate the needs of VM practice in the Malaysian construction industry. This paper employs quantitative approach by distributing total 313 numbers of questionnaire to various construction firms. It is indicated that VM is a worthwhile practice to enhance value and achieve cost savings for construction project. However, design liability related issue and adversative attitude of original design team are the main problems of VM practice. It is also found that VM practice has great potential to impact life cycle costing and performance of construction projects. INTI International University 2018 Article PeerReviewed text en http://eprints.intimal.edu.my/1341/1/vol2_2018_9.pdf Yeo, Han Ming and Lee, Benny Hai Chim (2018) Value management as a cost control approach to improve project with value for money during design stage. INTI JOURNAL, 2 (9). ISSN e2600-7920 http://intijournal.newinti.edu.my
institution INTI International University
building INTI Library
collection Institutional Repository
continent Asia
country Malaysia
content_provider INTI International University
content_source INTI Institutional Repository
url_provider http://eprints.intimal.edu.my
language English
topic HD28 Management. Industrial Management
T Technology (General)
TH Building construction
spellingShingle HD28 Management. Industrial Management
T Technology (General)
TH Building construction
Yeo, Han Ming
Lee, Benny Hai Chim
Value management as a cost control approach to improve project with value for money during design stage
description Value Management (VM) is a methodology that has been adopted to facilitate decision-making on construction projects to deliver ‘value for money’ for clients[1]. It provides various approach to meet project needs and functions as required by the clients. This paper aims to investigate the needs of VM practice in the Malaysian construction industry. This paper employs quantitative approach by distributing total 313 numbers of questionnaire to various construction firms. It is indicated that VM is a worthwhile practice to enhance value and achieve cost savings for construction project. However, design liability related issue and adversative attitude of original design team are the main problems of VM practice. It is also found that VM practice has great potential to impact life cycle costing and performance of construction projects.
format Article
author Yeo, Han Ming
Lee, Benny Hai Chim
author_facet Yeo, Han Ming
Lee, Benny Hai Chim
author_sort Yeo, Han Ming
title Value management as a cost control approach to improve project with value for money during design stage
title_short Value management as a cost control approach to improve project with value for money during design stage
title_full Value management as a cost control approach to improve project with value for money during design stage
title_fullStr Value management as a cost control approach to improve project with value for money during design stage
title_full_unstemmed Value management as a cost control approach to improve project with value for money during design stage
title_sort value management as a cost control approach to improve project with value for money during design stage
publisher INTI International University
publishDate 2018
url http://eprints.intimal.edu.my/1341/1/vol2_2018_9.pdf
http://eprints.intimal.edu.my/1341/
http://intijournal.newinti.edu.my
_version_ 1651872661484077056
score 13.211869

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