An Implementation Framework of Value Management (VM) in the Construction Industry

Guest Speaker:
Dr Bruno Lot Tanko (School of the Built Environment, University of Reading Malaysia)
Subject Area:
Built Environment
Activity:
Internal Seminar
Date & Time:
Thu, 18. October 2018, 12:00 h - 13:00 h
Venue:
N3.04, University of Reading Malaysia - EduCity@Iskandar​

Abstract
Value management (VM) is an acknowledged technique used to optimise the performance of construction projects in most developed and developing countries. Research in the use of value-added techniques have continued to gain consideration worldwide as a result of the universal quest to reduce construction projects costs without sacrificing quality of construction ventures. The purpose of this paper is to develop a framework for value management (VM) implementation by establishing the barriers to VM application, and the effect of critical success factors of VM on the current value-added construction practices. Quantitative research approach was adopted for the study. A total of 465 questionnaires were distributed to five practicing construction professionals, and a response rate of 74% was achieved. Data analysis techniques employed include: cross-tabulation, mean scores and relative importance index; normality test; reliability test; validity test using Kaiser-Meyer-Olkin (KMO) and Barlett’s test of sphericity; factor analysis; and structural equation modelling. Findings reveal that at least 3 phases of value-added practices have been adopted in the construction processes. Findings also demonstrate that VM practices are hindered by lack of expertise, lack of awareness among clients, poor collaboration among stakeholders, inadequate facilitation skills, lack of active involvement of clients and stakeholders, and absence of local VM guidelines. Consequently, drivers including multidisciplinary team, competent facilitators, effective communication among VM participants, ability to conduct VM workshops, and commitment of all stakeholders to VM workshop would facilitate the successful implementation of VM. The framework established from the research results suggests four (4) requirements that necessitate the implementation of VM in the construction industry, namely “people-related factors”, “government-related factors”, “environment-related factors”, and “information/methodology-related factors”. The framework was validated by construction experts to confirm its suitability, usefulness, and applicability, and would form the basis to develop or enhance a VM manual or standard for the construction industry.

 

Photo Biography

Bruno Lot Tanko holds a Bachelor Degree in Quantity Surveying (First Class honors) from the Federal University of Technology, Minna, Niger State, Nigeria, and a Master Degree in Construction Management from University of Jos. Bruno has just completed his Ph.D. in Quantity Surveying at the Universiti Teknologi Malaysia (UTM), and has been involved in teaching and training in the fields of construction management and quantity surveying since 2009. He is currently a lecturer in the Built Environment, University of Reading, Malaysia (UoRM). His areas of interest are on construction management, value management/value engineering, procurement, project success, client’s satisfaction, health and safety, and project management. His doctoral research focussed on developing a road map for implementing value management in the construction industry.

  • This seminar is restricted to University of Reading staff and students.

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