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Value Management of Construction Projects
15 Jun 2002-
About: The article was published on 2002-06-15 and is currently open access. It has received 211 citations till now. The article focuses on the topics: Value (economics).
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TL;DR: In this article, the authors identify, categorize, and prioritize a general set of critical success factors for construction project briefing, which could be used by construction practitioners on all projects in the future.
Abstract: Construction project briefing is a complex and dynamic process which involves identifying and conveying clients’ actual needs and requirements accurately to the project team. The briefing process is critical to the successful delivery of a construction project and there are many limitations inhibiting its effectiveness. A study of factors which could contribute to a successful briefing (in this study referred to as critical success factors) will enable special attention to be paid to those areas which could improve its performance. The objectives of this study are to identify, categorize, and prioritize a general set of critical success factors for construction project briefing. This study is intended to complement the existing but limited research into the identification of such factors and to serve as a stepping stone to the identification and establishment of yardsticks which could be used by construction practitioners on all projects in the future. A questionnaire was used to collect opinions from exp...
140 citations
31 May 2013
TL;DR: In this paper, a multi-case study exploratory investigation into the earliest stages of projects and their management is presented, which is referred to as the "front-end" phase of the project life cycle.
Abstract: This paper is a multi-case study exploratory investigation into the earliest stages of projects and their management. We refer to this throughout the paper as the ‘front-end’. We provide a definition of this phase of the project life cycle and conduct a literature review of the various topics that would suggest themselves to be apposite to the front-end. This includes governance and strategy; requirements and technology; estimating; risk and value; people and learning and development. Following this review of literature, we set out the approach taken in the empirical study. The context for the study was the UK, although many of the organizations investigated had a global presence and some of their projects were multinational in nature. We detail the research methods, the multi-case study route taken and the nature of the in-depth interviews with senior project management representatives from nine extremely credible organizations experienced in managing projects. Our findings are presented so as to identif...
112 citations
TL;DR: Value management (VM) is presented as a methodological management style for enhancing value in projects as discussed by the authors, which draws together conceptual thinking on the project as a value chain with historical and international developments in value management and value engineering.
107 citations
TL;DR: In this article, the authors report the initial outcome of a joint research project between academics and practitioners, which aims to develop a practical workshop model that incorporates client values into the conceptual design of construction projects.
Abstract: If client values are not fully understood in a construction project it is likely to result in either low fulfilment of client expectations or multiple design alterations during the project process which lead to additional costs and frustration among the project participants. However, it is not a straightforward management task to operationalize client value in construction. Within this context, the client group comprises multiple stakeholders, which often have conflicting goals and values that may not be fully realized by the stakeholders themselves. The management challenge is further complicated by the fact that the delivery team, which is responsible for understanding and delivering client value, is made up of even more different parties. The article reports the initial outcome of a joint research project between academics and practitioners, which aims to develop a practical workshop model that incorporates client values into the conceptual design of construction projects. The workshop model d...
100 citations
TL;DR: In this article, the authors investigated the financial risk associated with highway infrastructure projects by identifying parameters such as traffic flow and project cost; and further models the risk by analysing real-world PPP based highway projects in India.
91 citations