Tab Article
Value management (VM) is a structured, team-oriented approach to problem solving that can be applied to the concept, design, construction and on-going management phases of a project. The primary reasons for any client or consultant to commission a VM study is to achieve value improvements and/or monetary savings.
The Framework document
This has been developed from an international benchmarking exercise of VM processes, procedures, tools and techniques used in construction and manufacturing. It presents clear, step-by-step procedures for undertaking the VM process on construction projects and highlights the requirements at specific 'value opportunity' points in the project life cycle. Practitioners and clients can use this framework to develop specific agendas and procedures to ensure they will receive the maximum benefit from the tools and techniques presented.
See also related publications The Value Management Benchmark: The Research results and The Value Management Benchmark CD.
