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Bassioni, H A, Price, A D F and Hassan, T M (2005) Building a conceptual framework for measuring business performance in construction: an empirical evaluation. Construction Management and Economics, 23(05), 495-507.

Chan, J K W, Tam, C M and Cheung, R (2005) Monitoring financial health of contractors at the aftermath of the Asian economic turmoil: a case study in Hong Kong. Construction Management and Economics, 23(05), 451-8.

Ellis, R C T, Wood, G D and Keel, D A (2005) Value management practices of leading UK cost consultants. Construction Management and Economics, 23(05), 483-93.

  • Type: Journal Article
  • Keywords: Quantity surveying practice; risk management; value management
  • ISBN/ISSN: 0144-6193
  • URL: https://doi.org/10.1080/01446190500040711
  • Abstract:

    Value management (VM) is widely accepted as an important tool in the management of projects. Through a series of semi-structured interviews, this paper attempts to add to the qualitative exploration of VM, by investigating the attitudes and experiences of VM facilitators within major UK cost consultancies. Clients cut across all sectors, but relatively few subscribe to a formal VM process. Despite the acknowledged importance of early interventions, the focus for many VM studies tends to be at spaces and element levels, rather than at the earlier concept level. VM continues to be used as a cost-cutting exercise, particularly so on projects which are experiencing problems. Formal VM rarely extends beyond tender stage. Workshops remain the common format, but these are often compressed, due to commercial pressures, into a half-day. Techniques are adapted to suit the needs of the project, team and client rather than being rigidly applied according to the theoretical approaches outlined in the literature. The potential to integrate VM and risk management (RM) services is recognized by all, although such integration is yet to be fully developed and implemented.

Kirkham, R J and Boussabaine, A H (2005) Forecasting the residual service life of NHS hospital buildings: a stochastic approach. Construction Management and Economics, 23(05), 521-9.

Lee, S-H, Thomas, S R and Tucker, R L (2005) The relative impacts of selected practices on project cost and schedule. Construction Management and Economics, 23(05), 545-53.

Li, B, Akintoye, A, Edwards, P J and Hardcastle, C (2005) Critical success factors for PPP/PFI projects in the UK construction industry. Construction Management and Economics, 23(05), 459-71.

Ling, F Y Y, Ibbs, C W and Cuervo, J C (2005) Entry and business strategies used by international architectural, engineering and construction firms in China. Construction Management and Economics, 23(05), 509-20.

Nyström, J (2005) The definition of partnering as a Wittgenstein family-resemblance concept. Construction Management and Economics, 23(05), 473-81.

Zayed, T M and Halpin, D W (2005) Deterministic models for assessing productivity and cost of bored piles. Construction Management and Economics, 23(05), 531-43.